Solana Chapter 2: What can we expect?

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14 Feb 2024
33

In the ever-shifting sands of the cryptoverse, Solana has had a particularly turbulent time during its short 4 year lifetime. It was notably championed by SBF, with FTX holding a large holding in their treasury and the platform being built on their technology. It was a strong performer in the 2021 bull market, achieving an ATH of ~$250. Following the collapse of FTX, Solana achieved a degree of infamy and sold off precipitously, hitting a low of <$10 around the beginning of 2023. 

This year has been a storied year though and SOL has been a standout performer. Notably during the period of depressed prices, core developers continued to support the project and build cool use-cases. These became increasingly noticed over 2023 and in the recent price runup of the last few months, SOL has been on a rip! Its’ foray into the mobile sector has also been eagerly anticipated. Let's review what transpired during its initial launch, the associated costs, and the benefits users gained. We can then take a look at the newly launched second stage, exploring how it builds upon its predecessor.


Solana's initial foray into the mobile sector was met with excitement in the blockchain community. Launched to address the burgeoning demand for on-the-go access to Solana's ecosystem, the mobile application aimed to provide users with a seamless experience in managing their Solana assets and interacting with decentralised applications (dApps) on the Solana blockchain.

Solana’s first smartphone, the Saga, was launched in mid-2023 with a price-tag of $1,000. But following an initial tepid market response and lacklustre demand, the price was dropped to $599. This turned around when the dog memecoin project BONK announced it was airdropping 30 million BONK tokens to Saga owners for free. The Saga then sold out almost overnight. At the time, the BONK tokens were worth more than the cost of the phone, so buyers essentially got the device for free. Saga owners also received other crypto rewards, like the mint for the Claynosaurz NFT collection, but these events generated much less excitement.

What users also received was a mobile gateway into the robust Solana ecosystem. They could securely manage their SOL tokens, interact with various DeFi protocols, and engage with a growing array of decentralised applications. The speed and low transaction costs synonymous with Solana were now conveniently available at users' fingertips, fostering a more user-friendly and accessible blockchain experience.

Building on the success of the first launch, Solana Mobile 2.0: “A New Chapter” marks the next milestone in the evolution of Solana's mobile presence. The second stage brings forth several enhancements and new features, aiming to elevate the user experience and expand the utility of the application.

One notable improvement is the optimization of the user interface, providing a more intuitive and streamlined experience. The new version incorporates user feedback from the initial launch, focusing on improving navigation and accessibility, making it easier for both newcomers and experienced users to leverage the full potential of Solana's ecosystem. Solana hopes to go one better with Chapter 2. The Saga genesis token, the non-transferrable NFT that came with every Saga and helped owners redeem rewards, will not be available to owners of the new devices, but the company plans to build on the learnings from the Saga to deliver an enhanced experience and build a stronger community.

The initial demand for the phone has been very strong. Within the first 30 hours pre-sales for the phone exceeded the Saga sales for a full 12 months. For pre-orders the phone is being offered at $450, less than the $599 that the Saga ultimately sold for. The Chapter 2 device is expected to ship in the first half of 2025.

Benefiting from Solana Mobile 2.0, users can now explore enhanced functionalities. This includes improved staking options, allowing users to participate more seamlessly in Solana's consensus mechanism and earn rewards. The mobile application also integrates with a broader range of dApps, reflecting the ever-expanding Solana ecosystem.


Pre-orders became available in the second week of 2024 and will continue to be available until the allocation is fully sold out. The total production run has not been disclosed but I would imagine it will remain limited to improve the buzz around the phone, which no doubt is great publicity for the SOL project. We are currently still in the “Founder” window which is supposedly closing soon. Subsequently, there will be the “Early Adopter Window” and the “Supporter Window”. This is 100% my own speculation, but I expect the pre-order prices to be much higher for these subsequent launch stages.

If you would like to be part of the continuing story of Chapter 2 and secure your own device and if you would also like to help me out, then please click on my referral link below. We will then both be eligible to receive valuable rewards such as limited NFTs and airdrop tokens.
https://solanamobile.com/refer/adamq001

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