solan

On-chain data shows that at 9:45 AM Beijing time, USDC Treasury minted an additional 250 million USDC on the Solana network.

Text: According to ChainCatcher, Fullstack.Trade CEO Flood stated that Solana is in the most dangerous situation since its establishment.thinkingusd listed four points: losing market share in the RWA market with no moat; no viable path to a native perpetual contract exchange; stablecoin trading pairs dominate trading volume and lose monetary characteristics; as new chains go live, the disadvantages of early issuers become apparent.

The Solana community plans to meet in November during the Scale or Die event. Creech stated that with the aforementioned upgrades being implemented, "Solana development will be different."

Bitwise CEO posted on the X platform that Solana, Ethereum, and Bitcoin are currently the only three crypto assets in the world whose ETF size has grown to over $1 billion.

The Solana-based crypto debit card infrastructure Rain was hacked due to vulnerabilities in outdated contracts, resulting in approximately $1.1 million in funds being stolen. The affected crypto bank Avici's token AVICI dropped from a 24-hour high of $0.43 to a historical low of $0.217, a decline of 49%, before recovering to around $0.378.Avici confirmed that the attack only affected the card funds contract used for recharge consumption, and its self-custody wallets were not impacted, promising to fully refund the affected balances. In this incident, 1,685 Avici users lost approximately $500,800; another crypto bank, Tria, also had 636 users affected, with losses exceeding $430,000. The discrepancy between the approximately $1.1 million tracked on-chain and the losses reported by Avici indicates that other protocols supported by Rain were also attacked.Transaction data shows that the attacker repeatedly submitted signature authorizations, adding themselves as administrators of the card collateral account and withdrawing balances. The stolen stablecoins were exchanged for SOL, cross-chain to Ethereum, and ultimately flowed into the mixer Tornado Cash. Avici has filed a report with the FBI's Internet Crime Complaint Center. This incident also exposed issues with the custody transfer behind some self-custody crypto cards: although users control their wallets, the funds used for consumption are transferred to third-party contracts.

In Solana's first binding on-chain governance vote, the SGP-0002 proposal aimed at accelerating the downward pace of SOL inflation passed with a support rate of 67%. This proposal, driven by the infrastructure service provider Helius, plans to increase the annual inflation adjustment rate of Solana from 15% to 30%, accelerating the network to reach a terminal inflation level of 1.5% and reducing the scale of new SOL issuance in the medium to long term.On the eve of the voting deadline, the proposal's support rate had not reached the two-thirds statutory threshold. Helius CEO Mert Mumtaz contacted major validator nodes and institutions in the final stages, and Kraken's validator node Kraken2 changed its voting position from opposition to support just before the deadline. Ultimately, the proposal received a support rate of 67%, with 25% opposed and 7.84% abstaining, and a staking participation rate of 60.7%, meeting the required number of voters. Mert Mumtaz stated that after hundreds of communications, the proposal gained crucial votes and passed in the final stages.

According to GMGN market data, the Solana ecosystem meme coin GOLD's market capitalization quickly surpassed $13 million, currently reported at approximately $13.8 million, with an intraday increase of over 478 times.According to the project's official introduction, GOLD is narrated as "Trump Digital Gold," claiming to be a cryptocurrency project launched by the Trump Foundation, combining the narrative of gold value with blockchain concepts. More details have yet to be announced. The actual association of the related project with Trump and his affiliated organizations still needs further confirmation. Meme coin prices are highly volatile, and the authenticity of the related narrative remains to be verified; please be aware of trading risks.

The cryptocurrency payment platform Rain stated that its monitoring system detected a vulnerability affecting a small number of programs using outdated versions of Solana contracts, while other programs were not affected. Rain immediately launched an investigation to determine the scope of the incident.The Rain team has successfully upgraded all programs using outdated versions of Solana contracts, and the related issues have been resolved. Rain will continue to monitor the situation and has hired a third-party forensic expert to conduct an investigation, while also cooperating with law enforcement and relevant regulatory agencies. All affected users will receive full compensation, and Rain has begun the remediation process and is committed to completing the handling swiftly and responsibly.

Cointelegraph reported that Goldman Sachs is the largest known holder of the spot Solana ETF, with an exposure of approximately $88.1 million according to the 13F filing.

Solana validators have voted to approve the "Dual Deflation" proposal numbered SGP-0002, increasing the network's annual deflation rate from 15% to 30%, while maintaining a long-term inflation target of 1.5%. According to the final voting results, the proposal received 67% support, 25.16% opposed, and 7.84% abstained, with a participation rate of 60.7%. The new plan is expected to bring SOL to a terminal inflation rate of 1.5% in about 2.8 years, while the original plan would take approximately 5.7 years, with an expected reduction of about 18.9 million SOL issued over the next six years.This vote marks Solana's first binding governance process, which also approved the proposed Solana Constitution while rejecting another proposal regarding resource and inclusion fees. The positions of major participants have diverged: the largest voter, Figment, holding 17.1 million SOL, cast all opposing votes, while Helius and Jupiter overwhelmingly supported it. The U.S. exchange Kraken briefly cast an opposing vote at 12:33 UTC during the voting process, causing the support rate to dip below the threshold, but ultimately over 90% of its approximately 8.9 million SOL voting position turned to support.Meanwhile, Bitwise's Solana ETF has surpassed $1 billion in assets under management, becoming the first Solana ETF to reach this milestone. According to Bloomberg ETF analyst Eric Balchunas, U.S. Solana ETFs have seen a cumulative net inflow of about $1.7 billion since their launch, with almost no sustained outflows.

Solana's new bank Avici is facing ongoing attacks, with attackers having stolen over $1 million from users. The attackers' wallet holds 10,005.03 SOL (approximately $1.07 million) and about $11,600 in USDC and USDT. The attack method involves first calling the SubmitSignatures of the Avici authorization program, then calling the AddCollateralAdmin of the collateral program, and finally executing WithdrawCollateralAsset to withdraw the balance. Both of Avici's programs are upgradable and share the same standard Solana account instead of multi-signature upgrade permissions.Avici confirmed the incident 1 hour and 53 minutes after the first theft transaction, stating, "We are aware of the issue affecting card balance withdrawals and are working directly with all relevant partners to resolve it." Prior to this, users had reported stolen balances on social media. A real-time tracker established by anonymous on-chain analyst STACC recorded 125 different sending accounts, with transfer amounts ranging from approximately 9 USDC to over 26,000 USDT.As a result, the AVICI token fell 49.4% in 24 hours to $0.2175, with a market cap of approximately $2.84 million, hitting an all-time low. Avici raised funds through MetaDAO in October 2025, with an original cap of $3.5 million, but the final committed amount reached $34.2 million, and the team refunded 89.8% of the committed USDC.

Financial services giant Charles Schwab announced on Thursday that it plans to add Solana, Avalanche, and Chainlink to its cryptocurrency trading platform in the coming months, further expanding beyond Bitcoin and Ethereum, but did not provide specific launch dates. This addition comes about three months after Charles Schwab introduced direct trading of Bitcoin and Ethereum to some retail clients, who previously could only gain exposure to cryptocurrencies through exchange-traded products and stocks of companies like Coinbase and Strategy, without the ability to directly purchase cryptocurrencies.Joe Vietri, head of digital assets at Charles Schwab, stated that this expansion will provide clients with more options for digital asset allocation. Solana focuses on fast, low-cost transactions, Avalanche supports businesses and developers in creating custom blockchains, and Chainlink connects blockchains with external information, providing data such as asset prices for smart contracts. Clients can buy and sell these cryptocurrencies on the official website, mobile app, and thinkorswim platform, with a fee of 75 basis points (0.75%) per transaction.

According to the official webpage, the voting phase for the Solana double deflation proposal has ended, with a voter participation rate of 60.69%. Among the votes, 67% were in favor, the opposition rate was 25.16%, and the abstention rate was 7.84%, with the approval rate reaching the required 2/3 support threshold for passage. The proposal aims to reduce the inflation rate of SOL to about half of its original rate, increasing the deflation rate to 30%. Based on current estimates, this proposal will reduce the issuance of SOL by approximately 18.9 million over the next six years.In addition, the voting phase for the resource and fee inclusion proposal has ended, with a voter participation rate of 61.14%. Among the votes, 53.9% were in favor, the opposition rate was 18.92%, and the abstention rate was 27.18%, with the approval rate not reaching the required 2/3 support threshold for passage. This proposal suggests introducing a transaction fee mechanism based on resource consumption, charging fees according to the network resources consumed by transactions, which is expected to increase the daily burn rate of SOL from the current approximately 650 to between 7500 and 9000.

Bloomberg ETF analyst Eric Balchunas posted on the X platform that the Bitwise Solana ETF has just surpassed $1 billion in size, becoming the first Solana ETF to reach this scale.The Solana ETF category has accumulated inflows of $1.7 billion, and after experiencing a severe decline in the first half of this year, there has been almost no sustained outflow of funds.

The core development team of Solana, Anza, announced that the Solana testnet has enabled the first phase of the SIMD-0437 proposal, and the account rent reduction mechanism has begun testing. This proposal includes a total of 5 functional gates, with only the first functional gate currently activated, and all adjustments have not yet been completed and deployed to the mainnet.Once all 5 phases are completed, the storage cost parameter lamports_per_byte for Solana will be reduced from 6960 to 696, resulting in an overall reduction of 90%. For example, in the case of token accounts, the deposit required to maintain an account in a rent-exempt state is expected to decrease from approximately $0.16 to $0.016, thereby lowering the costs of account creation and application deployment.

According to data from the Solana governance platform, the "SGP-0002 Double Deflation" proposal is currently in the voting stage, with about 12 hours left until the voting deadline. This proposal was initiated by Helius (HEL1...e2TU) and suggests increasing the deflation rate in Solana's inflation plan from the current -15% to -30% to accelerate the reduction of network inflation.The current voter participation rate is 47.29%, meeting the requirement of 1/3 of the quorum. The vote distribution is as follows: For: 140.6M SOL (68.58%), Against: 47.39M SOL (23.12%), Abstain: 17.01M SOL (8.3%). Among the main voting parties, validators such as Helius, Jupiter, and Staking Facilities voted in support, while Figment, Everstake, and P2P.org voted against.

Bitwise CEO posted on the X platform, stating that approximately $100 million in funds flowed into Bitwise's ETPs in the United States. Among them, Solana accounted for about $40 million, Bitcoin about $22 million, Hyperliquid about $20 million, XRP about $12 million, and Ethereum about $1.4 million, ranking in the top five for fund inflows.Investors are increasing their exposure to crypto assets.

According to GMGN market data, the market capitalization of the Solana ecosystem Meme coin fone briefly surpassed $30 million, currently reported at approximately $23.56 million, with an intraday increase of over 58 times.In terms of narrative, fone revolves around the concept of "apeonfone," summarizing the trend of Meme coin trading becoming increasingly mobile and social as "an ape on a phone." The project community compares it to the previous cycle's dogwifhat narrative of "a dog with a hat," emphasizing that users browse social media on their phones, receive signals, and directly buy Meme coins. Please note that Meme coin prices are highly volatile, and such community-driven narratives lack stable fundamental support; please be aware of trading risks.

Polymarket US has withdrawn two NFL player participation contract documents from the prediction market platform. The platform has completed certification with the Commodity Futures Trading Commission (CFTC) and plans to launch related products no earlier than August 27. Polymarket US certifies Bitcoin, Ethereum, and Solana price contracts, all three types of contracts are submitted in pairs and classified as swap contracts under the binary options subcategory.Both the NFL contracts and cryptocurrency contracts involve the relevant classifications. The NFL compliance analysis document has been submitted separately for confidentiality, with Polymarket US requesting permanent non-disclosure on the grounds that public disclosure would leak trade secrets and give competitors an unfair advantage. As of the record, another NFL American football eligibility contract remains in certified status.