What is the Solmap that the community is doing at FOMO?

On December 21, an NFT series “Open Solmap” appeared on the 24-hour trading list of NFT trading platform Magic Eden. At the time of writing, Open Solmap has hit a floor price of SOL 0.77, with more than 230k plots and over 17, 780 current holders.

What is Open Solmap?

It is reported that “Open Solmap” is a project officially launched by Magic Eden to represent the ownership of block space on Solana, and will be run by the community after the completion of mint. At its core, Solmaps is the power to assert digital sovereignty over “parcels” (a unique part of the contiguous slots on the Solana blockchain), each of which contains 1,000 transaction history slots and is visually represented. In total, there are about 232 million slots, i.e. there can be about 232, 000 Solmap plots.

What are slots? When validating transactions on Solana, each slot represents a unit over a period of time, similar to a frame in a motion picture film, during which a large number of transactions are processed and confirmed. Unlike BTC, which processes transactions in fixed-size blocks, Solana’s innovation lies in its use of dynamic slots, making the system more flexible and scalable. The dynamic nature of slots allows for high throughput and efficiency in transaction processing.

For example, if a user inscribes 12345.solmap, they will receive an NFT and an inscription representing 12345.solmap, as well as 1, 000 Solana slots from 12345000 to 12345999, where slot 12345000 will be the main slot of the plot.

According to the Solmap whitepaper, the community encourages users to make full use of the native properties of Solana slots and blocks to build Solmap by adding layers and meanings, including block properties, block transactions, block rewards, block programs, and block accounts. Immutable inscriptions on Solana allow the Open Solmap standard to follow a first-come, first-served rule. This rule ensures the legitimacy and uniqueness of each Solmap, preventing the duplicate creation of drawings. Based on this premise, the concept of Solmap makes it a consensus-driven community project that explores on-chain data.

Seeing this, you may think of Bitmaps, the first metaverse project in the BTC ecosystem built on ordinal number theory and bitmap theory, Bitmaps currently has a total trading volume of more than 286 BTC, or about more than $10 million. Just like Bitmaps, Solmaps starts from transaction history data, maps the data into unique parcels, and gives them the potential to host community creations based on their attributes.

Related reading: “BTC NFT general rise, which ones perform the best?”

*The second phase of the development of the Bitmap project introduced the concept of “The Parcelling”, which allows users to divide their own parcels within a block independently of the block. This phase of development is an important milestone for BTC digital real estate creation on the blockchain. Unlike other metaverse projects, Bitmap does not limit the number of plots, but instead connects the creation of new Bitmaps with BTC blocks, which can theoretically create up to 144 new Bitmaps per day, providing users with a plethora of opportunities to discover and confirm their digital assets. *

The slots on Open Solmap can be classified as “Satoshi” on Bitmaps, and “ETH Killer Solana” combined with “BTC Ecological Innovative Gameplay”, Solmap has attracted great attention from the community as soon as it was launched. And this isn’t the first project to surprise the community in the Solana ecosystem.

Inscriptions, earth dogs, Solana takes over every hot spot

The inscription that began in the BTC ecology ORDI has brought a two-month-long inscription fever with its huge wealth effect, and all major public chains have been swept away. Among these public chain inscriptions, the inscription sols on Solana is the fastest growing in value after eths, and the price of one sols is 66 SOL at the time of writing.

Related reading: “Inventory of the top ten public chains worth paying attention to inscriptions”

SOLS is different from other public chain inscriptions at the beginning of mint, and the process of pols inscription in the same period is extremely simple, while SOLS needs to be engraved with a picture. Immediately after mint, sols, which cost tens of U, traded at 1 SOL on the secondary market, and on December 15, the price of sols on Magic Eden broke through 100 SOL.

Behind the value growth of sols, the Solana ecosystem itself has played an important role in supporting the inscription plate. Solana Labs co-founder Anatoly Yakovenko said on the Unchained podcast that the inscription is a fully blockchain-based asset that “is not necessary, but Solana will still provide support.”

In addition to the inscriptions, the Solana ecosystem is staging a new phase of the “Earth Dog Season”. Solana Labs co-founder Toly gave birth to the meme coin SILLY in a “dragon-shaped” costume at the Breakpoint conference, and in the early days of its community attention, on December 16, Toly said on social media that there is an “urgent need for silly dragon memes”.

If you had bought SILLY at that time, you would have gained nearly 30 times in 5 days. Today, SILLY broke above $0.07 and is up nearly 400% in 24 hours.

Related reading: “Solana’s Dirt Dog Season Continues to Be Hot, Have You Earned This Wave of Fast Money?”

With its low-cost, high-speed trading experience, Solana has attracted a lot of Web3 projects. In the inscription fever and meme season, which has little to do with the performance of the public chain, the community on Solana is also active enough to undertake every Web3 hot spot. On-chain data shows that the single-day trading volume of the Solana ecosystem DEX exceeded $1.2 billion on the 21st, surpassing ETH for the second time in history. In the new bull market, what kind of surprises will Solana bring to the community?