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> It's just the general public got screwed by having $320M of Solana tokens inflated up on them. The general public didn't get screwed here. Solana ETH is an I
by firloop 5y ago
> It's just the general public got screwed by having $320M of Solana tokens inflated up on them.
The general public didn't get screwed here. Solana ETH is an IOU for ETH. Now it's backed by ETH. It's not like anyone got diluted or anything.
- ww520 5y ago“The SOL token distribution is as follows: 16.23% went towards an initial seed sale, 12.92% of tokens were dedicated to a founding sale, 12.79% of SOL coins were distributed among team members and 10.46% of tokens were given to the Solana Foundation. The remaining tokens were already released for public and private sales or are still to be released to the market.” So how were the seed Solana tokens backed by ETH based on the distribution? Weren’t they created out of the thin air?
- saurik 5y agoThat's SOL, not bridged/"wrapped"-ETH that happens to exist on Solana as an IOU for actual-ETH on Ethereum.