codex

Colosseum Codex: Squads API, Solana Inflation Rate

Squads API, Solana Inflation Rate, Gaming, Identity with Honeycomb, Solana's Mobile Future

Mike Hale

Nov 27, 2024 — 4 min read

🦃 It's Thanksgiving tomorrow here in America, so this issue might be a little light since I'll be taking some time off to stuff myself on turkey, mashed potatoes, and a slice (ok... a few slices) of Pumpkin pie!

There's a lot to be thankful for in the Solana space, aside from the recent run-up, so even if you don't celebrate Thanksgiving take a minute to think about all the great people and opportunities we have in our community!

So here's something else you can be thankful for: A roundup of the latest developer news, tools, and resources!

🗝️ Squads API

The launch of the Squads API marks a big deal for Solana developers that need to integrate stablecoin banking features into their apps.

This API lets you integrate advanced financial functionality without having to deep dive into the underlying code.

Squads API offers features such as payments, escrow services, sub-accounts, spending limits, and recurring transactions, all powered by smart accounts on the Solana blockchain.

The API is structured around three core modules:

Security: Implements multi-signer accounts with robust key management to ensure that assets and transactions are secured using reliable cryptographic methods.
Programmable Banking: Enables real-time payments, setting of spending limits, escrow management, and handling of sub-accounts. This module allows you to integrate advanced banking features tailored to your application's needs.
Networking: Simplifies the handling of transactions on the Solana network. It abstracts lower-level blockchain interactions, enabling you to focus on building application functionalities without worrying about transaction details.

By utilizing the Squads API, you can enhance your applications with stablecoin functionalities seamlessly.

This integration broadens the scope of services you offer and positions your application to take advantage of stablecoin efficiencies, including low transaction fees, instant settlements, and global accessibility.

Some potential Use Cases include:

Wallets that can implement features like sub-accounts, spending limits, escrow services, and recurring payments.
Payroll and Remittance Platforms to enable global payroll and remittances with instant cross-border payments at low cost.
Ecommerce Platforms that support secure, instant payments and escrow functionality.
Payment Service Providers (PSPs) with stablecoin payments directly integrated into the platform.

The Squads API offers Solana developers simplified development, enhanced security, and improved user experience.

Introducing Squads API

💰 Solana Inflation Rates

There has been some conversation around making an adjustment to Solana's inflation mechanism to better align with network participation and security goals.

The main objective is to adjust the inflation rate based on the percentage of SOL tokens staked, encouraging more than 50% of the circulating supply to be actively staked.

This dynamic inflation mechanism is designed to enhance network security by ensuring that validators remain economically viable to maximize decentralization.

Under the proposed system, the inflation rate would start at the current rate of 4.8% and could adjust upwards or downwards at the beginning of each epoch. If more than 50% of the total SOL supply is staked, the inflation rate would decrease by 0.1%.

Conversely, if less than 50% is staked, the inflation rate would increase by 0.1%. This adjustment would continue each epoch, with the inflation rate bounded between a minimum of 0% and a maximum of 4.8%.

The motivation behind this change is to reduce reliance on inflation for rewarding validators and stakers, as validators are increasingly earning revenue from sources like MEV and priority fees.

While it'll be a wihle before any adjustment to Solana's inflation rate is implemented, it's worth keeping an eye on this discussion as it has a big impact on the future of Solana.

SIMD proposal: Updating Solana inflation rate

⚡ Quick Hits

10 must-have resources for developers diving into the Solana ecosystem - @AmalnathSathyan

Overview of Solana’s Technology and its Implications for Gaming (Video) - Superteam Vietnam

MPL-404 developer docs get a full rewrite - Metaplex

How to Write Good and The Importance of Technical Writing (Video) - Ackee Blockchain Security

Chase Barker is stepping down from the Solana Foundation - @therealchaseeb

⚙️ Tools & Resources

sologger is a group of libraries and binaries that can be used to parse raw logs emitted from a Solana RPC into structured logs and transport Solana logs to either a LogStash or OpenTelemetry endpoint via TCP.

Carbon is a lightweight indexing framework on Solana that provides a modular pipeline for sourcing data, decoding updates, and processing them in order to build end-to-end indexers.

example-jupiter-swap-node is an example of a Jupiter Swap with Compressed Tokens that enables a single swap transaction that includes additional instructions for creating, decompressing, and closing the input token account.

👩‍🔧 Get Hired

Douro Labs is hiring a Frontend Engineer to help design and develop tools for staking, governance, and administration within the Pyth Network ecosystem.
Zotto is hiring a Solana Backend Engineer to develop and maintain backend infrastructure for Solana.

🎧 Listen to This

Civic

In this episode, Karthik M., Co-Founder of Honeycomb Protocol, discusses the rapidly advancing world of Web3 gaming and the groundbreaking experiences it offers through emerging technologies like tokenized identity.

Karthik explains how Web3 gaming differs from traditional Web2 gaming, particularly in terms of user experience, monetization, and community-building opportunities.

He emphasizes the unique possibilities available to game developers, encouraging them to focus on areas like tokenized identities and immersive, interactive experiences.

The discussion also looks into Honeycomb’s partnership with Civic, highlighting how Civic's identity verification platform is being leveraged to enhance the gaming ecosystem.

Karthik also shares Honeycomb's future plans, which aim to further redefine the potential of Web3 gaming.

Identity as the Ultimate Cheat Code in Web3 Gaming with Karthik M. of Honeycomb Protocol

Bonus Episodes

How Chris is Increasing Bandwidth and Reducing Latency (IBRL) On Solana with TitanDex - Solana Weekly

This episode dives into the cutting-edge development of TitanDex, a decentralized exchange (DEX) aggregator building liquidity aggregation on Solana.

Solana's Mobile Future w/ Andrew, DRiP.haus Mobile Engineer - Solfate

This conversation explores various aspects of mobile development, particularly in the context of the Drip app and Solana's mobile initiatives, the differences between web and mobile app development, the importance of user experience, and the challenges faced in the blockchain space.

Chris Zhu | Building In-Game Economies with Sonic SVM - BlockHash

Sonic CEO & Co-founder Chris Zhu joins Brandon Zemp to discuss Sonic SVM and how they are enabling sovereign game economies that roll-up to Solana, customized VM agnostic game engines, and Sonic’s vision is to expand the existing Solana Gaming Ecosystem.

Follow @mikehale on X or Warpcast!