LODE Announces Integration With Solana Blockchain, Expanding Presence in Growing DeFi Space
LODE will be integrating with Solana by the first quarter of 2022, making AGX Coins, AUX Coins, and LODE Tokens accessible in its public blockchain network. This integration will enable greater liquidity for LODE’s assets.
The LODE Project was founded on the belief that the world deserves a more inclusive and efficient monetary system, and significant strides have already been made to achieve this vision. The LODE Wallet helps users protect their wealth with an inflation-proof global payment system enabling instant access to fiat, gold, silver, and crypto, and is already trusted by 11,000+ members worldwide.
Key to this success is the interoperability, which is crucial to ensure the LODE Community gains more liquidity options for LODE assets. LODE is committed to remaining competitive and expanding options for its community, and is proud to announce that AGX and AUX Coins, as well as LODE Tokens, will be available on the Solana blockchain by early next year, expanding liquidity for all of LODE’s assets.
Solana is a blockchain platform designed to host decentralized, scalable, and user-friendly applications, and is currently the fastest growing ecosystem in crypto with over 400 projects spanning DeFi, NFTs, Web3, and more. The Solana (SOL) native cryptocurrency has soared almost 12,000% so far in 2021, and with a market capitalization of over $66 billion, it is the fifth-largest cryptocurrency by this measure.
With its superior smart contract capabilities, the Solana platform is particularly relevant for running cutting-edge applications in decentralized finance (DeFi) and non-fungible tokens (NFTs); two hot areas in the crypto space right now.
DeFi alone has seen explosive growth this year, with $93 billion worth of assets in the crypto market as of June 2021, up from $4 billion just three years ago. High-performing DeFi apps built on Solana include Serum (DEX), Raydium (automated market maker), Oxygen (decentralized bank), and Saber (stablecoin hub). The recent announcement that FTX.US has selected the Solana blockchain for its new NFT marketplace is another significant signal that the ecosystem is receiving strong support from the industry and will play a major role in the emerging NFT space.
As a Proof of Stake (PoS) blockchain, which also harnesses the newer Proof of History (PoH) approach, Solana has been making waves in the crypto world as the superior ecosystem in terms of costs and speed. The platform operates with 400 millisecond block times and can process as many as 50,000 transactions per second (tps), at an average cost per transaction of less than $0.01. An additional point of differentiation versus competitor platforms is scalability, as Solana ensures composability between ecosystem projects by maintaining a single global state as the network scales.
From early 2022, the LODE Community will also benefit from accessing Solana’s assets on the LODE Wallet.
Buy AGX and AUX Coins on the LODE Wallet (available on Google Play or the App Store), or acquire newly minted AGX and AUX Coins on the Hotbit or the STEX exchanges.