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Information about Solana (SOL)
Solana is a blockchain platform that supports high-performance decentralized applications and smart contracts. The Solana platform is designed to facilitate the creation of decentralized applications (DApps) to make decentralized finance accessible on a larger scale. Solana improves scalability by using the Proof of History consensus method, combined with the underlying blockchain’s Proof of Stake consensus method.
SOL is a token that operates on the Solana blockchain platform. The SOL token has the typical uses of a platform token such as:
News
RockawayX has launched an early-stage venture capital fund of 125 million USD, designed to support projects on the Solana blockchain. This comes at a time when user engagement with the network is waning, making this investment particularly significant.
The firm plans to enhance the Solana ecosystem by financing promising projects and has collaborated with over 15 initiatives since its initial investment in 2018. CEO Viktor Fischer highlights the importance of building applications directly on Solana rather than exploring other Layer 1 options.
The DeFi Development Corporation has appointed Fei Han, a former Binance executive, as Chief Financial Officer (CFO) and Dan Kang as Head of Investor Relations. These appointments aim to strengthen the firm’s financial leadership as it enhances its crypto-focused treasury strategy.
The company has purchased approximately 65,305 SOL tokens, bringing its total holdings to about 317,273 SOL tokens, valued at approximately 48.2 million USD. This acquisition reflects the firm’s commitment to optimizing its treasury within the Solana ecosystem.
Shaquille O’Neal’s settlement with investors over his FTX promotion remains confidential until court approval. Plaintiffs claim losses exceeding 21 billion USD, separate from estimated available funds of 9.2 billion USD through bankruptcy.
Serving O’Neal with legal papers for the FTX case was notably difficult, with efforts to reach him failing multiple times. He was ultimately served during an NBA game in April 2023.
This settlement follows O’Neal’s involvement in another class-action lawsuit regarding his Solana-based NFT project, Astrals, which resulted in an 11 million USD settlement.
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