Weekly Roundup - Coin Street Daily

Statistics

Our weekly Solana name service statistics, which we like to call Monday2Monday stats, reveal that the numbers club, specifically the 999 Club remains ever-promising. We can only speculate why numbers are so popular but my personal guess would be their rarity and recognizability. Phone numbers, for example, have long been a part of our daily lives.

An Educational Mini-Series

It’s easy to go down a rabbit hole in crypto and its technology. Let’s face it, the DeFi sphere is a fast-paced environment and it’s very likely that you won’t know all the ins and outs. However, it is important to grasp the basics and lay a foundation to build.

In our 4 part educational mini-series, we will be touching on these basic building blocks and hope to learn more alongside you. Part one, “DID: Decentralized Identifiers”, was posted this week and you can look forward to part two, “What is an on-chain identity?”.

Feedback Campaign

In an effort to actively improve all aspects of the Solana name service and Bonfida in general we’d like to encourage you to give feedback and be able to track that explicitly. That’s why we have launched a campaign where you can share these ideas amongst fellow community members and the team. A system where we can collaborate and build on each others’ ideas.

To further encourage participation we will be distributing rewards to those who make valuable suggestions.

You can read more about the feedback campaign on our blog and start posting suggestions here.

Developments

Rare trait for NFT domains

All NFT domains with less than five characters now have a rare trait on marketplaces. This means you easily search for rare domains or look for the rare category on Magic Eden, for example, to trade.

Please note, the implementation is not retroactive. Thus, if your domain was wrapped (NFT state) before the change was implemented, you would need to unwrap and rewrap it for the rare trait to show in the metadata of the NFT.

Wrapped SOL (wSOL) is confusing

Originally, if an unsolicited offer was made on a domain and still today when a fixed price domain is listed it is done in wSOL. The reason why wSOL was created is that native SOL is not a token. Tokens can be seen as objects that share generic traits and when you write a smart contract that handles tokens all you need to know is that it’s a token. It doesn’t really matter what token it is since they are guaranteed to have a minimal set of attributes that all tokens share.

Due to SOL not being a token though it cannot be handled as such and would require custom instructions which would make all smart contracts more complex for no good reason. Hence why we originally used wSOL (because it allows you to treat SOL like a token).

Of course, this led to some confusion amongst our users since they anticipated receiving SOL instead of wSOL. To circumvent this, wSOL now gets unwrapped when a seller accepts an unsolicited offer placed which makes it completely equivalent to using native SOL (ie the seller receives SOL).

It’s a small improvement that helps the overall user experience. Native SOL will soon be enabled for fixed-price listings as well.

We’ve been building a Twitter bot internally supported by some community suggestions and launched it this week. The beauty of building this bot internally is that it is easy to add/amend the bot and include all suggestions.