📍 DePIN The World | Mad News #48
Backpack’s billion dollar days are the new normal, Mad Mintify has a nice ring to it, Mad Lads and Backpack partnership strategy, DeGods migrate back to Solana
Welcome to the Mad News!
Backpack’s billion dollar days are the new normal 🎒
Mad Mintify has a nice ring to it 💍
Mad Lads and Backpack have track record of long lasting relationships 🤝
Crypto brands increase visibility by aligning token airdrops with Backpack 🪂
Mad anniversary celebration in Tokyo 🎉
DeGods migrate NFT collection back to Solana 🖥️
…and much more!
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Backpack’s billion dollar days are the new normal 🎒
The biggest indicator of popularity for a cryptocurrency exchange is Trading Volume.
Backpack has routinely posted “billion dollar days” trading volumes since launching last November and there are no signs of that slowing down.
This level of activity does make Backpack one of the largest Solana-based centralized trading platforms but is still chasing the established exchange hierarchy.
Backpack casually doing $1b a day in volume. Spot only btw!
Brick by brick 🧱
Backpack has one thing that most of the leading Exchanges do not: a robust wallet product which can be used for every step of the crypto users lifecycle.
Some of them have launched integrated wallets but they pale in comparison to the powerful standalone Backpack Wallet.
Backpack Wallet is feature-laden and it’s easy to forget about all of it’s capabilities, luckily we have Armani Ferrante to remind us.
What makes Backpack wallet special.
1) Backpack can stay open when you use dapps. Either with the sidebar or with popout mode. This has a huge effect when you are signing a lot of transactions on a dapp. If you're a DeFi or NFT power user, you will care a lot abou tthis.
2) Backpack multi-chain UX. We don't try to shoe-horn every chain into a single UI…
He continues for another seven points, read the full thread here.
Mad Mintify has a nice ring to it 💍
Mintify caused a stir with a fresh Mad Lads teaser in a move that is clearly taken from the now-infamous Backpack partnership playbook.
The NFT infra provider started their journey as a multichain data aggregator and has expanded their services with a multitude of trading tools.
Mintify provides modular NFT infrastructure and services. Their products include a trading terminal, upcoming drops discovery, and API & SDK for accessing data and building applications.
The trading terminal allows users to trade NFTs across public and private marketplaces, while the discovery tool helps users find and set reminders for upcoming drops. The API & SDK enables developers to integrate Mintify's data and build customized applications.
As you may have noticed from the photo above - Mintify is not natively aligned with the Solana blockchain.
What can this partnership mean for the Mad Lads?
Phase III Quest comes to a close 🧙♂️
Trading has closed for the Phase III trading Quest.
The snapshot for Phase III has been taken. Further details on the io.net drop will be released this coming week.
Mad Lads and Backpack have track record of long lasting relationships 🤝
Armani Ferrante and Tristan Yver have placed a value on relationships and community building since the earliest days of Backpack.
Zeta Markets launched a Mad Lads xNFT trading competition called “Mad Wars” shortly after the collection minted.
That relationship continues to this day with a 10% Z-Score boost for Backpack users on the Zeta Markets decentralized trading platform.
Wormhole is another prime example of a long term partnership which will benefit both Mad Lads holders and Backpack users for years to come.
Crypto brands increase visibility by aligning token airdrops with Backpack 🪂
Whether official or unofficial, targeting Mad Lads holders and Backpack users for token airdrops is a significant marketing move during this cycle.
This comes in the form of memecoins airdropped to Mad Lads holders.
It also arrives with streamlined token allocation checks and claims.
In some cases these claim processes coincide with a trading release on the Backpack Exchange.
Backpack Exchange takes it to another level with trading Quests that coincide with initial coin offerings.
The Quests rewards traders from an allocation pool which are set aside specifically for Backpack users.
Community is the driver of all these initiatives 🎤
Tristan Yver hit the stage at TOKEN2049 Dubai and changed the way which web3 views community building in just ten minutes.
tldr: I deeply care about the Mad Lads and Backpack community and you should care about your community too
Mad anniversary celebration in Tokyo 🎉
Dozens of Mad Lads maxis met up in Tokyo to celebrate the one year launch anniversary.
Backpack moved its headquarters to Tokyo last year and numerous team members were in attendance.
If you look hard enough you just might find some Mad Lads sticker breadcrumbs.
LAD OF THE WEEK: saryu 🔵
Our LOTW stands on business and makes a life long commitment to the Lads.
saryu joins the very short list of humans who boast Mad Lads inspired ink on their skin.
saryu is a crucial part of that core community which deserves credit for helping the Mad Lads become a massive success.
He officially joined the the Mad Lads family last October and has been an ardent, vocal supporter of the brand ever since.
Follow saryu IMMEDIATELY, Lads follow Lads 🫡
DeGods migrate NFT collection back to Solana, following XPUNKS 🖥️
DeGods has returned to Solana after an eighteen month sabbatical where they explored the tumultuous waters of Ethereum.
117 degods & y00ts bridged to solana in the first 5 minutes.
Along the way they announced a handful of powerhouse partnerships with respected Solana brands Phantom, (Sol)Sniper and more.
Public sentiment about the DeGods return was divided but largely positive.
DeGods dominated the headlines however they were not the only collection to migrate blockchains to Solana.
XPUNKS is the most notable project on XRP Ledger and commands a significant community of blockchain builders.
They began their bridge to Solana last week and have a lot planned for the future, learn more here.
Solana Ecosystem Call: May 2024 Edition ☎️
Solana Ecosystem Calls are an opportunity for the entire blockchain community to come together and celebrate big wins from the last month.
Each call is livestreamed on Twitter and features guests from the most popular builders on Solana.
Signup here to get reminded of the next event.
Jito reaches $1.4 billion in TVL despite crypto markets struggle 🪙
SOL usage on Jito represents nearly 40% of Solana’s entire TVL.
TVL is a modern term that stands for ‘total value locked’ and in this case represents how much the USD value of controlled SOL is worth.
TL;DR Jito is on top.
Backpack is deeply integrated with the platform on both Wallet and Exchange fronts.
JITO, the networks governance token, is listed on the Exchange
Staking of SOL in the Mad Validator is powered by Jito and accessible via the Wallet
Bonkathon competition live with 100+ teams registered already 📈
Bonkathon is a six week long event with a focus on consumer products that utilize the BONK token.
Using BONK provides an extremely low barrier of entry that anyone with access to a blockchain wallet can access.
Like all great Solana hackathons there are numerous pathways to enter and winning is directly correlated with how much work you put into the development and presentation.
See more details and sign up for the first ever Bonkathon today!
PODCAST CORNER 🎙️
Raoul Paul | The Journey Man
Real Vision co-founder and CEO Raoul Pal sits down with Joe McCann, founder, CEO, and CIO of the hedge fund Asymmetric.
They discuss Joe's story and background, his thesis on the rise of Solana, nailing the meme coin cycle, and where the whole crypto space is going next.
Validated Podcast
In this episode, Austin chats with Rushi Manche (Movement Labs) about bringing the Move programming language to Solana and other blockchains. They discuss some of the hype behind Move, such as its "built-in" security, and the inherent trade-offs that every programming language has.
Rushi further explains topics like the difference between the Sui and Aptos versions of Move, how Movement Labs' parallelization works, and more.
According to Rushi, the intuitiveness and flexibility of programming in Move will serve as an effective bridge for web2 developers to step into web3.
Lightspeed Podcast
This week we're back with another weekly roundup.
After a crazy couple of weeks for Solana & crypto more broadly, we deep dive into Stripe's crypto announcement, Solana MEV, EigenLayer's token launch, Kamino + Drift Airdrops & more!
Logan Jastremski Podcast
The end game of commoditized Data Availability Layers with Avail Founder, Anurag Arjun.