On the evening of December 20, the Solana meme coin ZERO, which was thought by the community to be on the road to zero, took off from a price of $0.65 and was quoted at $2.45 at the time of writing, an increase of more than 250% in the past two days. Since its launch two weeks ago, ZERO's TVL has surpassed $10 million, what has happened to the "resurrection" of ZERO in terms of token empowerment?
Inscription + meme + betting: the fairest inscription?
As an inscription token, with sols with a floor price of more than 100 SOL, ZERO was noticed by the community because of its "gambling gameplay" mint mechanism.
ZERO was created by the Analysoor project on Solana, and unlike other mint games, Analysoor extracts the number from the hash of each block in the process of minting ZERO, and the first number closest to the block hash from top to bottom in the case of even numbers is the winner, and the opposite is true for odd numbers. In other words, players who participate in mint can only rely on "luck" to win their ZERO tokens, and the gas fee rule is invalid here.
In addition, 0.08 SOL is charged for each transaction in the mint process, and all of them are added to the ZERO pool. That is, in addition to the successful transaction fee, all the funds left over during the minting period are used to provide liquidity for ZERO.
Analysoor officially launched on December 13 and was founded by early Ordinals OG, Solana developer Pland. When the first inscription on Sola exploded, Pland, who is the OG of Ordinals, pointed out that Sols is not a pure inscription in nature, but an NFT (the minting process of sols requires the download of an image). As a Solana developer, Pland also believes in Solana's high-performance advantages in the public chain, and believes that the gas fee of sols in the minting process should not be a hidden payment (the cost at that time ranged from a few U to tens of U).
As a result, Pand launched the Meta Protocol protocol Analysoor through inscription technology, introduced the Index Protocol off-chain indexer, and used Solana's historical data to prevent bots from participating, enabling a fairer distribution of meme coins when they are released, and guiding the liquidity of tokens. ZERO was introduced as a pure inscription for Analysoor's first deployment. ZERO has a total supply of 21 million, of which 10.5 million will be minted at 0.08 SOL, generating a total of more than $600,000.
Pand believes that the popularity of NFTs in 2021 is not because the community is all artists and has formed a good atmosphere for artistic exchange, but because NFTs give everyone the opportunity to participate in the project at a low price. The same goes for the inscription fever of 2023, and ZERO follows that.
On the one hand, in the previous inscription fever, players often need to roll gas fees to increase the probability of MINT's success, and the frequent emergence of scientists has also made this retail investor carnival question its fairness. On the other hand, the mint cost of players in the inscription fever eventually goes into the hands of miners, and many funds are gathered in the mint process of an inscription token, but these funds cannot provide liquidity for the token itself. The gas is in full swing when it is mint, but the market is unattended during the secondary trade. Only the miners emerge as the final winners.
Analysoor, on the other hand, uses a random lottery instead of a first-come, first-served basis, using the mint cost to provide liquidity for the token, and the remaining funds of the mint are used to build a liquidity pool. This mechanism not only realizes fair sale, but also endows it with certain gambling attributes, and the "stake" will not flow to miners, but will become a liquidity pool for the project team.
But ZERO had its ups and downs during the casting process. After postponing the originally planned minting time of 3 p.m. on December 14, and about three hours after the mint ended, some users did not receive their due ZERO tokens. And the most surprising thing is that Analysoor said on social media that the funds originally planned to be used as LP pools were mistakenly sent to ZERO holders, and released the wallet addresses of holders, calling on them to return ZERO. This allows users to leave a "drama" directly in the comment section.
About half an hour later, Analysoor posted that it had received all the ZERO tokens as liquidity, and the first mint ended without danger.
In the midst of this turmoil, Analysoor gave a special thanks to community member kaagami, who received half of the LP tokens, worth about 3,500 SOL. Kaagami then sent a long tweet explaining why she returned ZERO, "I saw a lot of potential in it. I personally interpret the Analysoor protocol as a unique new asset allocation method specified on Solana. 」
As an interlude, this doesn't seem to affect market expectations for ZERO, which listed on Bitget on December 15 and hit $1.7 on the day of its launch.
And just when the community began to look forward to the follow-up development of ZERO, on December 16, when Analysoor will carry out the second deployment and the protocol's first NFT series "ONE", if the minting process of ZERO is "thrilling", in the eyes of the community, the minting of the ONE series is "full of loopholes". First, the minting time was delayed, and then, after two minutes of minting, ONE was shut down, Analysoor announced that it would be reminted the next day, and the 513 SOL raised was returned to users.
In a constant apology, Analysoor revealed that "at the moment, there is only one person doing front-end, back-end, data, and social media at the same time."
On December 17th, the "ONE" series began to mint, but due to the high heat, more than 25,000 addresses participated in the minting, and the number of NFTs that could mint each block quickly changed from 80 to 1.
If this operation can be explained, according to the plan, the ONE series will be launched on SNIPER, an NFT trading platform on Solana, after the mint is completed, and holders can sell their NFTs for 2.5 SOL, and the funds raised during the previous mint will bid for ONE NFTs at 2.5 SOL. But at the same time, many users in the community reported that they had not received NFTs despite showing that they had "won the lottery", and some even said that "Analysoor looks like another high-gas fee scam".
While Analysoor was struggling to do "after-sales service" for the ONE series, the ZERO had already fallen 60% from a two-day high, and the experiment seemed to be ending in failure. ZERO holders continue to leave messages in the comments section of Analysoor's social media, urging them to take action to "save" ZERO.
On the 20th, Analysoor made its first rescue operation - opening the Discord community with a threshold of 100 ZERO or 1 ONE, and 100 ZERO was worth $76 at the time. In the Discord community, Pland announced his plans: a community-led meme coin will be launched, and Analysoor will only be responsible for launching token minting and locking up liquidity pools.
Pland later explained in more detail that 48.5% of the total supply of meme coins launched by the community was minted through 0.05 SOL and 1 ZERO, and the remaining funds were stored as ZERO's liquidity pool. And 3% of the meme coin will be airdropped to ONE holders.
After that, Analysoor announced that it would continue to deploy other projects, and that the ZERO token would participate in each deployment until its total supply reached 5%, so that "the top three centralized exchanges can be listed in the future", and the funds raised will provide liquidity for ZERO after the listing.
At this point, ZERO is no longer an experimental attempt, but has the attributes of a "golden shovel". The price of ZERO has also climbed since the 20th, until it broke through $2 on the 22nd, and after falling by 60% in two days, ZERO has recorded a two-day increase of more than 250%.
On the one hand, despite the innovative nature of Analysoor, the wave of inscriptions has gradually receded, and investors are more concerned about the speculative nature of the leading inscriptions on each public chain, and a more "fair" inscription mechanism does not seem to be enough to give ZERO a strong consensus. Coupled with the frequent accidents in ONE's casting series, investor confidence quickly dissipated.
ZERO's "resurrection" is unexpected by the community, Analysoor's mint mechanism is similar to Ordinals, in Pland's vision, ZERO is not "Sols II" on Solana, but "ORDI on Solana", and Fairmint's narrative space is still valuable. What's more, as Vincent, a partner at sky 9 Capital, said on social media, if Fairmint's narrative can drive Analysoor forward, then ZERO will be the "golden shovel" on Solana.
A "fairer" mint mechanism sounds attractive enough, but it's unclear what kind of "token matrix" Analysoor can create. What is certain, though, is that the Solana ecosystem always offers surprises.
性能之外,Solana 上总有惊喜
But now, in addition to the trading performance benefits, the "community culture" on Solana also has a side worth paying attention to. As a high-performance public chain, Solana has carved out its own development path in the public chain because of its high throughput.
On December 21, Magic Eden officially launched Solmaps, a project representing the ownership of block space on Solana, with a concept similar to Bitmaps, the first metaverse project of the Bitcoin community, with the power to assert digital sovereignty over "plots" (a unique part of the sequential slots on the Solana blockchain). Solmap attracted a lot of attention from the community as soon as it was launched, and its floor price once touched 0.8SOL. After being launched by Magic Eden, Solmaps will be managed by the community in the future.
In the past two months, NFT trading volume on SOL has surpassed Bitcoin and Ethereum, and on December 22, SOL's total market capitalization reached $4.2 billion, surpassing BNB for the first time in history.
In the new round of bull market, Solana, which has been highlighting the advantages of trading experience and has been dubbed the "Ethereum killer", in addition to continuing to consolidate its performance advantages, now seems to be developing its own community culture. Analysoor founder Pland shared ZERO's results on social media with a slightly proud sarcasm that "Ordinals is for collectors, Solana is for trading players, and ETH is for funding Vitalik's longevity research", although ZERO has fallen back after hitting its highs, as far as Solana's ecosystem is concerned, its development trend has been obvious to all, and the community is also looking forward to Solana after SOL broke through $100 What kind of story will also be created.