$SOL is the native cryptocurrency of the Solana blockchain. With respect to gaming, it is extensively used as a digital currency in games that integrate with the Solana ecosystem (e.g. Ev.io). $SOL can be used as a medium of exchange, allowing players to trade items within and outside of games, as a reward token for player achievements in-game, and as a governance token, giving holders the right to vote on key game decisions.
$SOL reached its all-time high (ATH) of $263 on Nov 23, 2024. Total original supply of SOL tokens is 467,641,258.
The price of this token is subject to high volatility.
How are $SOL tokens allocated?
| Seed Sale | 16.23% | Early investors during the seed funding round. |
| Founding Team | 12.79% | Reserved for the Solana founding team. |
| Validator Sale | 5.07% | For validators who help secure and run the Solana network. |
| Strategic Sale | 1.88% | Strategic investors who contributed during a private sale. |
| Foundation Reserve | 10.46% | Managed by the Solana Foundation for growth and grants. |
| Community Reserve | 38.89% | Reserved for rewards, staking, and other user incentives. |
| Public Sale | 1.64% | Distributed during the public token sale (CoinList, etc.) |
| Ecosystem Fund: | 15.4% | For developers, projects, and activities that contribute to the Solana ecosystem. |
What are $SOL tokens used for?
- In-Game Currency: $SOL can be used as a currency for purchasing in-game items, skins, and other assets within games that integrate it.
- Reward System: Players can earn $SOL as rewards for completing tasks, winning competitions, or achieving milestones in play-to-earn games.
- Asset Trading: $SOL facilitates peer-to-peer trading of in-game assets like NFTs, allowing players to buy, sell, or exchange items within or across games.
- Microtransactions: $SOL can be used for microtransactions, enabling seamless payments for small in-game purchases without high fees.
- Staking and Governance: Some games allow players to stake $SOL for governance, voting on game updates, or to earn passive rewards.
- Marketplace Transactions: $SOL is often used in-game marketplaces to buy, sell, or trade digital assets, including NFTs or other game-related collectibles.
- Cross-Platform Transfers: $SOL enables value transfer across different games or platforms, allowing players to carry assets or currency between ecosystems.
- Tournaments and Esports: Players can use $SOL to enter gaming tournaments, with winners often receiving $SOL as prizes.
How to acquire $SOL tokens?
- Cryptocurrency Exchanges: Purchase $SOL on major exchanges like Binance, Coinbase, Kraken, and FTX using fiat currency (USD, EUR, etc.) or other cryptocurrencies.
- Decentralized Exchanges (DEXs): Swap other cryptocurrencies for $SOL on decentralized exchanges like Serum or Raydium.
- Staking Rewards: Earn $SOL by staking your existing $SOL tokens on the Solana network and receiving staking rewards.
- Play-to-Earn Games: Participate in blockchain-based games that reward players with $SOL for completing tasks, winning battles, or achieving certain milestones.
- Airdrops and Giveaways: Receive $SOL through airdrops, promotions, or giveaways hosted by projects within the Solana ecosystem.
- Liquidity Mining/Yield Farming: Provide liquidity to decentralized exchanges or protocols on the Solana network and earn $SOL as rewards for your participation.
- Freelancing and Payments: Offer services or products and accept $SOL as payment, especially in the crypto and blockchain industries.
- NFT Sales: Create and sell NFTs on Solana-based marketplaces like Solanart, Magic Eden, or others, and earn $SOL from sales.
⚠ Disclaimer: The above information has been gathered from the coin's whitepaper and other official sources, such as social media channels. Some features may be planned but may never be implemented. Web3gamer doesn't recommend buying cryptocurrencies except for gaming purposes and within your usual gaming budget.