Solana Update: Exploring ETFs, Actions and Blinks, and Innovative Applications of TipLink
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Solana Update: Exploring ETFs, Actions and Blinks, and Innovative Applications of TipLink
From ETF applications to innovative features, explore the key milestones in Solana's future development.
Navigating Web3 tides with focused insightsAuthor: dt
This week, the crypto market continues to struggle without breaking its downward trend. Overall market sentiment remains weak, and growing doubts have emerged about whether cryptocurrencies still hold bright prospects for the future. When discussing long-term viability, one key factor stands out: the potential for achieving mass adoption. Among current projects, Solana—especially with recent ETF-related developments—appears to be making the most determined progress toward this goal.
In this edition of Cryptosnap Dr.DODO, we’ll walk you through the latest updates on the Solana blockchain and its efforts toward enabling mass adoption.
Solana ETF
One major recent development involving Solana is VanEck’s filing for the first-ever Solana ETF. Although many believe the news carries more symbolic than practical weight at this stage, it has nonetheless provided a strong boost to $SOL’s price. VanEck argues that the U.S. Securities and Exchange Commission (SEC) is wrong in treating $SOL as an unregistered security, asserting instead that SOL should be classified as a commodity similar to Bitcoin and Ethereum. With Bitcoin and Ethereum ETFs already approved, VanEck sees a $SOL ETF as a logical next step.
However, most market participants believe such an application is unlikely to be approved under current conditions. The SEC has previously stated clearly that it views $SOL as a security. VanEck's move is widely seen as a strategic positioning ahead of the upcoming U.S. elections later this year. Current SEC Chair Gary Gensler is expected to step down, and crypto voters may play a decisive role in the election outcome. Meanwhile, regulatory sentiment in Washington appears to be shifting gradually toward greater support for cryptocurrencies.
Source: https://www.sec.gov/Archives/edgar/data/2028541/000162828024030249/vanecksolanatrusts-1.html
Actions and Blinks
Beyond token market developments, another significant update from the Solana ecosystem is the launch of Solana Actions and Blinks—a new type of on-chain interaction jointly developed by the Solana Foundation and Dialect.
In short, Actions are a standardized API for transactions on the Solana blockchain, designed for developers. Any project can integrate their protocol using available documentation. Blinks, on the other hand, are user-facing front-end components that convert any Solana Action into a shareable link enriched with metadata. These links can be posted on X (formerly Twitter) or Discord, instantly generating interactive on-chain buttons.
The introduction of Actions and Blinks exemplifies Solana’s push toward mass adoption by significantly lowering the barrier to blockchain usage. Retail users can now perform on-chain operations with just a few taps on social media—no need to navigate websites, install wallets, or manually connect accounts.
Source: https://x.com/eli5_defi/status/1805877572238295296
Tiplink
When discussing Solana’s path to mass adoption, Tiplink—a wallet application—cannot be overlooked. In my view, Tiplink is currently the most beginner-friendly wallet with the lowest entry barrier. It is also a project strongly backed by the Solana Foundation and raised funding in 2023 from top-tier investors including Multicoin Capital, Solana Ventures, Sequoia Capital, and stablecoin giants Paxos and Circle.
Tiplink is a custodial wallet that requires no seed phrase memorization. Users simply sign up and log in via their Google account—an experience nearly identical to common Web2 apps. There’s no need to install browser extensions or mobile apps; just open the website and connect your Google account. Initially launched as a tipping tool supporting only send/receive functions, Tiplink has evolved into a mature wallet product comparable to Phantom. With the recent release of the TipLink Adaptor, it now integrates seamlessly with mainstream Solana dApps, offering functionality on par with other wallets.
Source: https://tiplink.io/
Author’s Perspective
In my opinion, Solana is currently the most beginner-friendly blockchain available. Its low transaction fees, easy-to-use wallets, and intuitive front-end interfaces allow users to operate purely by instinct. Moreover, the Solana Foundation’s clear roadmap effectively aligns the entire ecosystem, driving widespread adoption across projects. The recent rollout of Blinks is a perfect example—within moments of the Foundation’s announcement, every major and minor project on Solana retweeted the post. Wallets like Phantom, Solflare, and Backpack immediately added support for Blink interactions, while DeFi platforms such as Jupiter, Tensor, and Sanctum had already implemented the Actions API, allowing users to access these features instantly.
The Solana Foundation’s well-defined vision, combined with its strong coordination and collaborative relationships across the ecosystem, forms what I believe is Solana’s greatest competitive advantage today. I also fully support Solana’s strategic focus on mass adoption. Rather than chasing flashy financial products, advanced technologies, or trending topics like artificial intelligence, the blockchain community’s top priority right now should be lowering barriers to entry and welcoming more people into the space!
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