Solana loses ETH and MATIC to DeGods and y00ts NFT projects

Top Solana-Based NFTs DeGods and y00ts Are Saying Goodbye and Migrating to the Blockchain Ethereum and polygons.

gods and y00ts have been told apart announcements That they will go to their homes in the first quarter of 2023 after the test. Meanwhile, an official roadmap from NFT is expected in January 2023.

Meanwhile, a Reddit post is accused that the gods and y00ts asked solana Millions of foundations to survive on the blockchain. User u/real_mooshi also claimed that Polygon allegedly paid y00ts $5 million to bridge. The user also said that the amount paid in Ethereum is unknown.

DeGods and y00ts rank in top 3

Both collections rank in the top three Solana NFTs Quantity But open sea market. In the past, degods hit around 2.2M Fifth note of musical scale In total volume, while y00ts recorded 1.7M SOL. Therefore, the departure will be heavy on Solana.

Solana collection data from OpenSea
from Solana archive data open sea

But DeFiLlama, Solana has already dropped out of the top ten series. It has 91 protocols with a Value Locked (TVL) of $218.4M, which ranks 11th. In contrast, both Ethereum and Polygon dominate the top five ranks. Ethereum has over 600 protocols with a TVL of $23.38B and is the largest DeFi Chain.

Polygon is at the fifth position supporting 352 protocols with a TVL of $993.41M. On a chain-to-chain comparison, Ethereum controls approximately 60% of the total value locked in the decentralized universe. The polygon dominates about 2.5% of the space.

TVL of Chains Chart by DeFiLlama
TVL of blockchain data by DeFiLlama

BeInCrypto recently reported that Solana is maintaining a high NFT sales volume on its ecosystem despite a weak market. In fact, according to CryptoSlam data, it is second only to Ethereum. According to the December data, the ranking is behind.

Solana outage still a concern for the industry

recently podcast, Solana co-founder Anatoly Yakovenko addressed the issue of the Solana outage. While Yakovenko said that the network shutdown is the biggest challenge and priority for developers, the industry is worried about how 2023 will play out.

Outages that have caused transaction settlement delays have affected the network more than once in 2022. Eight times since its launch in March 2020, Solana has crashed Either due to memory overflow, glitches or power outages. Back in May, Solana was taken offline for several hours. Another defect reported in June. Another validator issue brought down the network in October. Ethereum and Polygon have not yet reported similar problems with their chains.

However, the team behind Solana promised that its new validator network reliability for the coming year. Something that would put Solana on par with Ethereum. While questions remain about the network’s stability, Solana has released its 2023 roadmap,

In its release, Solana explained that with the launch of Firedancer, the second validator client from Jump Crypto, the network is expected to get even better. If adopted, a new validator client will create this highly unlikely Bringing Solana Networks Down, Raising It for a Single Issue security and stability. It also noted, “Firedancer will make Solana the only other blockchain network besides Ethereum to have more than one validator client.”

This would be a significant upgrade for the network considering it is expected to fuel the next phase of NFTs. consumer brand Conversation in 2023.

In terms of price action, the market is down after the FTX collapse. The market capitalization of Ethereum, Polygon and Solana places the chains in second, tenth and eighteenth place, respectively.


BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

#Solana #loses #ETH #MATIC #DeGods #y00ts #NFT #projects



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