- Solana Mobile has started shipping 150,000 units of the Seeker Web3-focused smartphone on Monday.
- Meanwhile, several publicly traded companies have started accumulating a significant amount of SOL for their corporate treasuries.
Solana Mobile, a division of Solana Labs focused on Web3 solutions for mobile devices, has begun shipping the new Solana Seeker on August 4. The company delivered 150,000 pre-ordered units of the revolutionary smartphone to customers.
Alongside this were considerable Solana (SOL) acquisitions by three publicly traded institutions.
Solana Seeker Features
The Solana Seeker is a second-generation smartphone from Solana Mobile. It’s the successor of the Solana Saga.
The phone comes with a flurry of upgrades based on the community feedback on its predecessor. The anticipation for the product has outpaced the first-gen Saga’s 20,000 pre-ordered units.
Solana Labs tailored Seeker to meet the growing demand of Web3 users. It features a built-in cryptocurrency wallet that seamlessly integrates with the Solana chain.
The phone runs on an Android operating system, making it compatible with the apps found within the Android ecosystem. However, it ups the ante with its native decentralized app (dApp) store. This opens users to various decentralized finance (DeFi) applications and Web3 games without extra tweaking, installation of emulators, or other third-party apps.
Additionally, the Seeker is equipped with a high-performance chipset designed for the usual mobile phone tasks and the demanding specs of blockchain-based applications, including facilitating low-cost and real-time transactions within the Solana network.
Moreover, the phone possesses TEEPIN’s three-layer security infrastructure. Besides Solana’s network-layer security, it offers hardware-level encryption and decentralized identity (DiD) management for data protection.
Interestingly, Solana Mobile revealed that it will roll out SKR tokens. SKR will serve as the Seeker’s native token. The utility token incentivizes participants in the Seeker ecosystem, rewarding dApp and non-fungible token (NFT) developers and unlocking perks for community members. Holders can also use it for decentralized governance voting processes.
The Solana Mobile team warned people that there’s no schedule for the token’s launch yet. Hence, there’s a possibility that scammers will capitalize on the opportunity to create copycat tokens claiming to be the Seeker’s native token.
Public Companies Accumulate SOL for Treasury
Coinciding with the bullish vibes surrounding the launch of the Seeker, three publicly traded companies disclosed that they have been building up their SOL treasuries. These were Bit Mining, Upexi, and DeFi Development Corp.
On August 4, DeFi Development Corporation, an online platform providing data and software solutions, acquired 110,466 SOL for $18.4 million. The company has already accumulated 1,293,562 SOL.
On August 5, Bit Mining, a crypto mining company, announced buying 27,191 SOL for $4.5 million. It was its first SOL purchase, which it immediately followed up with by staking the token in its newly-launched self-operated validator.
Upexi, a holding company that acquires and operates consumer brands, continues to have the largest Solana haul in its treasury among other publicly traded companies in the US. It significantly increased its SOL treasury to around two million in June, which generates roughly $65,000 daily out of 8% staking rewards.
Despite the massive crypto market correction happening in the past few weeks, these activities underscore the long-term confidence of institutions in digital assets other than Bitcoin (BTC).
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