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Cake day: October 19th, 2023

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  • jawni@alien.topBtoSolanaWhy will Solana appreciate, ELI5 please?
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    10 months ago

    Supply is defined by blocks every 10 minutes, supply is cut in half every 4 years

    Solana is similar, but with different figures. New blocks every 400ms (.4 seconds). Inflation started at 8% and gets reduced by 15% every year and 10 years after launch(2030) it will hit 1.5% and stay there indefinitely.

    Are SOL like bitcoin, to trade for goods and services? store of value? why would a SOL be worth 50 today and the same one 5000 a few years later?

    Yes, Solana is a great network to use for payments because transaction fees are a fraction of a penny and transactions only take a fraction of a second. You can use SOL to pay for things but there is also native USDC on Solana which will likely be the most popular option for payments.

    Store of value? I think that’s kind of a nebulous term. I think the value of SOL will rise in the long term because many projects are choosing to build on Solana due to the performance it offers.


  • Can someone explain in layman terms how yield is produced when staking on coinbase?

    Should be the same way yield is produced for all staking, from protocol level emissions (inflation).

    Are they gambling with my Solana?

    Any custodial service could be doing that, but Coinbase is very reputable and it would be unlikely.

    Is my solana at risk?

    Yes, but risk will always be present and staking with Coinbase is a pretty low risk custodial option.

    Where does the extra Solana come from that they are paying me every few days?

    Same as my first answer.