Solar (SXP) has been listed on HotsCoin on March 5. Solar (SXP) is a decentralized open source blockchain developed by the Swipe project (a subsidiary of Binance). Adopting a delegated equity proof consensus mechanism, 53 representatives are responsible for block production and transaction verification. Solar aims to become a first-layer blockchain for decentralized peer-to-peer payments, focusing on being community-driven and expected to compete with blockchains such as Ethereum and Solana. SXP is currently open for trading on HotsCoin.
Key Information
Circulation market value: $53,217,184.907
Fully diluted market cap: $117,466,437.93
Circulation: 453,041,616.34 CPOOL
Total supply: 1,000,000,000 CPOOL
important events
2022-03-23: Solar mainnet online
2021-09-28: Completed US$3 million in financing
Solar Features
Delegated Proof of Stake and DAO Management: Adopts dPoS consensus mechanism, run by 53 representatives, and managed through DAO.
Community-driven: Aiming to compete with Ethereum and Solana, Solar demonstrates its community-driven philosophy by improving the ecosystem, launching new testnets and mainnets, and controlled by DAO.
Mainnet launch and other key milestones:
The mainnet will be launched on March 28, 2022.
Launching new desktop wallet, peer-to-peer payment system.
Deployed Solar Side Ledger Protocol, supporting ERC-20 tokens and NFTs.
Governance and interoperability: Future developments will focus on improving governance and enhancing interoperability with other ecosystems.
How Solar works
Solar Core: is its delegated proof-of-stake blockchain that fully utilizes Schnorr signatures to improve user privacy.
dPoS consensus mechanism: 53 representatives are responsible for block production and maintenance, which improves transaction speed.
Reward distribution: The block reward for each round is 530 SXP, determined by voting and ranking, and the participation of representatives and delegators is encouraged.
Deflation mechanism: Solar suppresses supply growth through a variety of mechanisms, including the regular burning of SXP.
Future direction
Detailed roadmap:
Q1 2024: Credit vaults, new chains, fintech borrowers, new multi-chain UI/UX, term pools.
Second quarter of 2024: New CPOOL staking model and protocol governance, richer borrowers and credit products, detailed credit reporting.
The third quarter of 2024: mortgage loans, continued growth of multi-chain, and new asset support.
Q4 2024: Clearpool Prime V2, Exchan.
① Side Ledger Protocol (SLP): Allows users to create tokens on Solar, introducing deflationary dynamics.
②Metaverse and NFT market: Plan to launch its own metaverse and NFT market, integrate SLP functions, and promote deflation through SXP destruction.
③Solar Launchpad: Provides a settlement layer for other projects and provides multiple functions, including KYC and auditing for new projects.
Solar Token Economics
Supply Management: Suppresses SXP supply growth through multiple mechanisms, including periodic destruction.
market performance
As of April 8, 2022: SXP is trading at approximately $1.35, with 24-hour trading volume of approximately $58 million, and a fully diluted market capitalization of approximately $700 million.
future outlook
Solar is committed to its ambitious roadmap, exploring areas such as NFTs, the Metaverse and Launchpad.
Successful execution will be key to its ability to compete with other Tier 1 blockchains and become the market leader in decentralized applications.
Summarize
Solar has demonstrated strong potential in the decentralized financial ecosystem, continuously driving development through technological innovation and community participation. However, its future development still needs to pay attention to market feedback, competitive pressure and the implementation of the technology roadmap.
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