Solana Auction - CoinList

archived 5 Apr 2021 08:57:16 UTC
Content on this page was provided by the Solana team
Web-Scale Blockchain
Auction Sold Out · March 24
Estimated Price $0.22 per SOL
Solana is a blockchain for fast, secure, scalable, decentralized apps and marketplaces.

About Solana

Solana is a high-speed blockchain, currently supporting 50-65k transactions per second and 400ms block times with 50 nodes on its public testnet. It is specifically built to scale transaction throughput without sacrificing decentralization or security.

Key Highlights

Seasoned Distributed Systems Team Solana's core technical team comes from Qualcomm (Fortune 500 chip manufacturer) where they managed projects such as Firefox OS and the BREW Operating System, which powered over 500 million phones. Few teams in the technology industry have experience scaling distributed systems to billions of users. Learn About the Team »
Natively Fast and Scalable Solana’s core breakthrough, Proof of History, significantly streamlines the process for a network to reach consensus and makes their blockchain natively scalable. This architecture avoids the added complexity that comes with other scaling approaches such as sharding and layer-two solutions. Explore the Innovations behind Solana »
Demonstrated Traction Solana’s team and performance have attracted launch partners who are frustrated by the scalability challenges inherent in existing blockchains like Ethereum. This includes a yet-to-be announced social network protocol with 1.2M MAU, DDEX (largest decentralized exchange on Ethereum), Chainlink (decentralized oracle), and Civic (blockchain-based identity provider). Solana also has a partnership with a Fortune 200 telecommunications company to provide the virtual sim and roaming/payments layer for its $20B 5G network.

Project Roadmap

January 2018
Whitepaper Published
July 2018
Testnet Alpha
June 2019
Smart Contracts Engine
July 2019
Testnet Beta
March 2020
CoinList Auction
March 2020
Mainnet Beta

Token Economics

SOL is the native token of the Solana blockchain. SOL serves a number of purposes:
Staking and fees Solana uses a Proof of Stake consensus algorithm that incentivizes token holders to validate transactions. As a part of Solana's security design, all fees will be paid in SOL and will be burnt, reducing total supply. This deflationary mechanism to SOL supply incentivizes more token holders to stake which results in increased network security.
Assets under management if Solana gains traction and financial products are built on top of the protocol, SOL tokens will likely serve as the underlying collateral for such applications (e.g. MakerDAO using ETH as the underlying collateral for DAI).
Genesis block pc
Purchaser pc
* Community tokens are held by the Swiss Foundation, which is run by an independent board. This token pool is used for bounties, incentives programs, marketing, and grants.

Fundraising History

March 2018
Seed round. Raised $3.2M ($0.04/token), alongside the release of Whitepaper 0.1.
June 2018
Founding Round. Raised $12.6M ($0.20/token), alongside the launch of the private testnet.
July 2019
Validator Round. Raised $5.7M ($0.225/token), alongside the launch of the public testnet.
February 2020
Launch Round. Raised $2.4M ($0.25/token), alongside preparations for mainnet launch.

Notable investors


Solana’s experience in bringing software to market that serves billions of users makes them both technical and operational experts. Their knowledge allows them to optimize all aspects of their product, from storage to block propagation to database architecture, and it has provided them key insights on how to scale blockchains.
Solana's team has decades of experience at major tech companies.

90% Staker Price Guarantee

Solana plans to launch a “Staker Price Guarantee” after the auction. The goal of the program is to encourage staking and price stability. As part of this program, auction participants who stake their tokens will enjoy a 90% price guarantee on their staked SOL tokens.
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Learn More about the Staking Program


Multiple hyper-growth projects have sought out Solana because of its high throughput and scalability.

Strategic Partners

Akash Network
Go Loan Snap
University of Illinois Urbana Champaign

Staking Partners

Stake Fish
Certus One
Chorus One
Cryptium Labs
Dokia Capital
Staking Facilities
Figment Networks

Custody and Wallets

Trust Wallet
Proof of history

Proof of History

Solana’s Proof of History system creates a trustless and secure clock on which all nodes can base their transaction timestamps. With this, Solana solves the “clock problem” (the problem of getting distrusting parties to agree on the time and order of events) and the double-spending problem. In Solana, there is clear consensus about the order of transactions because of the timestamps. Therefore, bad actors cannot spend their tokens twice. With that, the time it takes to reach consensus is significantly reduced.
Thanks to Proof of History, the Solana team can optimize many other aspects of the network, ranging from block propagation, parallel processing, database structures, and others.
Learn More about Proof of History

Auction Details

Asset Solana Tokens (“SOL”)
Auction Type Dutch Auction
Key Auction Dates March 17 12PM PST: Deposits open & pre-bids start
March 23 10PM PST: Auction goes live (will last for 6 hours)
Starting Bid $4.00 per SOL Token
Reserve Price $0.04 per SOL Token
Minimum Bid $100 Minimum Contribution
Supply Available in auction 8m SOL Tokens are available in the Auction
Circulating supply at launch 8m SOL Tokens
Lock-Up Period None
Vesting Schedule None
Eligible Participants Non-US Participants, additional jurisdictional restrictions apply


The problem is that there's no way to build any meaningfully scalable infra without sharding. The only non-sharded protocol that can sustain any meaningful load is @SolanaLabs and the sophistication of low level optimizations that @aeyakovenko and the team put in it is insane
Alex skidanov
Alex Skidanov, CEO of Near Protocol
Solana is the closest thing to the 'world computer' blockchain developers conceptualized in the early days of crypto
Kyle samani
Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital
“The Solana team has been ruthlessly executing against their roadmap over the past few months and it’s truly impressive! We’re looking forward to the high transaction chain and new products and services it will unlock for the future of blockchain technology
Joe lallouz
Joe Lallouz, CEO of Bison Trails
Needless to say that I'm in love with your tech stack
Wolfgang albrecht
Wolfgang Albrecht, CEO of Staking Facilities
I'm incredibly happy with Greg and the team's grasp of our objectives and ability to deliver
Executive of Fortune 200 telco

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