🗓️ This Week In Solana (4/11)

Hey there 👋,

Welcome to This Week In Solana, bringing you all the top news and airdrops in the Solana ecosystem.

I’m unfortunately no longer a Tensorian post the $TNSR token launch. I originally bought the NFT at over 80 SOL, and used their price lock feature several times to “profit” from the price dropping down to 40 SOL on token launch day. But with the spread and fees I could only capture about 50% of this fall.

I then grabbed a further short price lock at 20 SOL as a hedge post token drop which I never expected to hit. But the collection fell below and I sold into a “profit” which meant I only lost an additional ~19 SOL on the NFT! However, I did make more SOL than that back with the value of the $TNSR I received.

I still love the Tensor platform, but can’t see myself buying another NFT that people use to farm, it’s too volatile and often what you receive doesn’t make up for what you lose holding.

Ok lets get to this week’s action.

Cheers!

Richard (@richardpatey)

SNAPSHOT

Over the last 7 days:

$SOL Price: $173 (-4.5%)

NFT Volume: $65.4M (-14.4%)

Total Value Locked: $4.3B (-4.5%)

TOP NEWS

• The $TNSR token launches and hits a $2B fully diluted market cap, now down to $1.4B (trading at $1.4 USDC). Farmers believed the drop would be linear, but ended up being tiered (which helped me as I only organically traded on the platform):

• Zeta Markets announces the $Z token which will power governance and protocol growth

• NFT perpetual futures DEX Sujiko announces points and staking

• SolBlaze accuses MarginFi of withholding $BLZE emission rewards from users. Marginfi TVL is down 30% (I’ve removed my funds) and the CEO resigned. Solend will airdrop to users who withdraw from Marginfi and deposit with them

• The Kamino genesis page is live to view your allocation of $KMNO, which is currently trading pre-market OTC at $0.185

• Cygaar posts a thread on why Solana transactions have been failing, and Mert from Helius Labs gives an ETA of April 15 for patches

• Mayan, the cross-chain auction protocol, announces a $3M seed round

• Sharky farming season 1 has ended ready for Jupiter’s LFG launchpad, and they will be expanding into ordinals and RWAs:

• And the next (2nd) Jupiter LFG will be Wednesday April 17th where you can vote for projects such as Sanctum and Uprock:

AIRDROPS

Over the last week, I’ve converted SOL into $INF on Sanctum for a potential airdrop, and put it into a DLMM pool on Meteora to farm $MET:

I also bought more $JUP to stake ready for the next LFG vote:

Other protocols I continue to farm:

• Kamino

• Parcl (referral code ‘dai’)

• Zeta 

• Uprock

• Grass

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on Solana news - consider it informational and for entertainment purposes only. While I try my best to offer value, the information here could be out of date or completely wrong. Worse, protocols I feature may get hacked or may rug you and you may lose everything you invest. As such I accept no liability of loss, you are responsible for your own research and due diligence. There are likely affiliate/referral links to protocols in this issue, please use them :)