My First Attempt to Check Out Solana...

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(Edited)

Going through a new ecosystem, even briefly, for the first time is tiring. I can imagine the same experience must be felt by someone looking at Hive for the first time...

That happened to me, and I am not new to the crypto space or checking out other ecosystems. Think about what someone completely new must be exposed to (although if they don't have to move funds between ecosystems, but on the route fiat -> CEX -> ecosystem, paradoxically, it might be easier in some cases). And we are wondering why crypto hasn't reached mass adoption... It's generally too complicated for mass adoption, with a few pockets of simplicity here and there. The problem is we haven't found yet a solution where simplicity and ease of use don't come with a high degree of centralization at a package.

So, I decided to give Solana a first look... I'm not stupid to invest in SOL at these prices, although it might pump harder than others at the end of the bull market, but this is not a time to change plans. But can be a time to look around that ecosystem to see how it works, like I was doing with others in the previous bull market.

So, the first thing I did was to check out what was the most popular wallet on Solana, since this is not an EVM chain, so there's no Metamask there. I looks to be a clear choice: Phantom. I installed the browser extension for Firefox, which worked perfectly, despite a few 1-star reviews saying it's far worse than the Chrome one. Maybe they updated it.

Now my issue was that Phantom only supported Solana, Ethereum, and Polygon, and I wanted to send a minimum amount of funds from BSC.

After some looking around, I found Allbridge, but that moved only stablecoins across chains. I took it even though I knew I wouldn't have funds for my first transaction on Solana.

I did say a minimum amount of funds, right? 😂

So, I still don't have SOL, but I guess I'll have to move something on Polygon and send it from there. But I don't feel like it now.

I did check out some games on Solana, without playing them of course, but nothing seemed extraordinary. I would have liked the Monopoly idea, but I'm not sure if that game still exists (or ever did). I didn't seem to find a website for it.

I still wonder why board games aren't implemented more often in the crypto space. They certainly have a huge player base. And earnings could be just for tournaments, and otherwise play for pleasure and for receiving some NFTs associated with achievements.

Assuming tomorrow I'm in the mood to send the SOL for my initial transactions on Solana, is there something (dApps, defi, game, etc.) I should check out among the first things? Keep in mind I'll only have around 10$ worth of funds, lol.


Want to check out my collection of posts?

It's a good way to pick what interests you.

Posted Using InLeo Alpha



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31 comments
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I'm not sure you can do too much with $10, but Jupiter swap works well.

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(Edited)

Thanks. Well, I'm not looking to invest in Solana, only to see what tools are around, how to use them, how good they are, if there are things I haven't seen yet in the crypto space, etc.

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Good luck on your journey. It seems to be sucking in everything from ETH and more.

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Hmm, we've heard of many Ethereum killers. Solana was one of them, in the previous bull market, and yet ETH remained on top. Maybe this bull market...

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On chain activity for ETH is at new lows.. but maybe things will pick up.

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I think activity in crypto follows what's "hot", and Ethereum doesn't help with the high fees. And Solana is "hot". But I've seen Ethereum had a few upgrades in a short while, which is news for them. And Uniswap is preparing v4 for Q3, and I'm pretty sure that will stir a lot of interest.

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Don't know what to suggest to you on Solana for $10... lol... I suppose there are some games, but I'm not too much into it...

Jupiter - exchange
Orca - DeFi, concentrated LPs
Drift, Zeta markets - trading

and I don't know about other things... lol...

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Yep, as I was telling Steve, $10 is enough to check out a few dApps I guess. Not interested in investing in Solana at this point.

I was interested in games because I saw some posts on Hive regarding games on Solana and wanted to see what's so special about them.

Do you make profits with concentrated LPs? I know how they work, but I'm kind of turned off by the fact you need to constantly tweak them.

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The thing with concentrated LPs is that you have to find a good token pair that has volatility, but moves in the "range"... Also, you know my strategy is that I like to pick tokens that I like, so when it goes out of range, I'm fine with the tokens that I have...

Tbh, I began to use concentrated LPs as a way to take profits from some tokens... If I like the token and the price drops, I will accumulate it at X price... If it goes up, I will take profits at Y price...

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Thanks. Great tips! I think I've become a little lazy. Or maybe too distracted by the things in real life. But I'll need to start using them at some point.

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I 100% get you! Recently, I have noticed that I'm doing so many routine things for Liotes and with my personal posts, that I lost the time for research, and with crypto, research is everything!

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they are having some airdrops related to ETH activity, check JUP airdrop, maybe you get some to swap with SOL and get a jumpstart.

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That would be nice, but I have zero ETH activity...

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Thank you for your post on Solana @gadrian. When I first started seriously working to understand hive it was very overwhelming to me. The more you do on Hive the easier it gets to make sense 😅 Have a good rest of the week! Barb !BBH !CTP #ctp

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I understand that, Barb. And we should all do. It's easier to understand that once we check out a different ecosystem we are not familiar with. Have a great week too!

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I'm backing #usedcar to make me a few dollars. Just a memecoin can be traded on birdseye dex but trading shitcoins is all i do over there. Have about $1000 in that one and a few more smaller bits as well.

Solana is all hype but nothing good.

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Interesting. Thanks for your feedback! I was aware of the hype, but wasn't aware it was related to trading meme coins...

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I never knew that there are games on Solana
This is my first time hearing about that
Nice one!

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I heard about them from some people on Hive. Otherwise, I wouldn't have checked them out. But the one I heard about needs an investment, and I don't want to pay.

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I tried Phantom before when I was helping a friend. I haven't really explored Solana myself, but the token price movement is really intriguing. I think the reason why there aren't much boardgames being created is because they aren't that popular as an online game. They usually require longer playtime, and they aren't as addictive as normal mobile games. Add to that the royalty fees for using popular brands.

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I think the reason why there aren't much boardgames being created is because they aren't that popular as an online game. They usually require longer playtime, and they aren't as addictive as normal mobile games.

Are you sure? There are many people bored and who don't like the "normal" video games but love board games. I know some of them personally, lol.

Sure, they are better in person, but when you are alone and bored, does it matter?

Add to that the royalty fees for using popular brands.

There are ways around that... Like not using the brand and maybe changing the rules a bit to make it a new game.

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Are you sure?

I am actually one of those that love board games. We used to have monthly sessions and bring our own games. We tried online versions like boardgamearena.com and played a few times. But like I said, it usually requires a lot of free time. Mobile games that are popular are usually something that you can pick up and drop quickly.

I know some of them personally, lol.

What boardgame mobile games do they play? I haven't tried one that was adapted well to mobile.

Sure, they are better in person, but when you are alone and bored, does it matter?

For me, the beauty of board games is the interaction. If it is coop, the strategies you discuss while playing, if it is competitive, it is the trash talk and seeing your opponent's reactions to what's happening.

There are ways around that... Like not using the brand and maybe changing the rules a bit to make it a new game.

This is possible, but sometimes a few rule changes affects the game a lot. And me personally, I wouldn't support a copycat. The boardgame industry is a bit niche, so they need all the support they can get.

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Well, I think testing the waters before going in hard is a good idea but I wonder if $10 will do much given transaction fees.

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Their fees seem to be quite low. About twice the fees on Polygon. Now around 0.005$ or lower in SOL it appears.

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I strongly believe this is the year for solana actually

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There surely is a lot of hype around it.

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I personally believe solana is a great project for everyone to actually look out for. It has huge potential

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