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Solana Co-Founder Shares Key Survival Tips For Startups

According to Odaily, Solana co-founder Anatoly Yakovenko recently shared crucial survival tips for startups on the X platform. He emphasized that the primary reason for startup failure is running out of funds, and avoiding this can ensure the company's survival. Yakovenko warned entrepreneurs to be highly cautious of long-term contracts, such as office leases or data center agreements, as these are akin to debt. He advised keeping contract expenses below 20% of total expenditures, warning that exceeding this threshold is extremely risky. Yakovenko also highlighted that large teams can quickly deplete funds. He suggested that each employee should justify their value through profit or revenue. If a company has an 18-month cash reserve, it needs to achieve profitability or secure refinancing within 6-12 months. If profitability is not reached within six months, a 33% reduction in expenses may be necessary; after nine months, a 50% cut might be required. Given that contract expenses cannot be reduced, this could result in layoffs of 50% to 70%.
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Crypto Market Sees Modest Gains As Major Conferences Conclude

According to CoinDesk, Monday marked a slow start to the Asia trading week with Bitcoin (BTC) up 1.2% and Ethereum (ETH) up 2.6%. Solana's memecoin MOTHER, created by music star Iggy Azalea, saw a 4% increase following its strong presence at the Breakpoint conference in Singapore. ETH outperformed BTC in daily gains as Token 2049 and Solana's Breakpoint, two significant crypto conferences, concluded in Singapore. Despite these gains, both tokens remained relatively flat in a stagnant market. ETH is trading above $2,600, while BTC is trading above $63,700. The CoinDesk 20 (CD20), which measures the performance of the largest digital assets, is up less than 1%. Data from CoinGlass indicates that in the last 12 hours, more short positions than long positions have been liquidated, with $64.23 million in shorts and $54.42 million in longs being liquidated. Trading activity is light following last week's 50 basis points (bps) interest rate cut. BTC has risen 9.5% over the past week, while ETH has increased by over 16%. Polymarket bettors are divided on the likelihood of another rate cut, with 47% predicting a 50 bps cut and another 47% expecting a 25 bps cut. Solana (SOL), which was the focus of the Breakpoint conference, is trading above $145 and remains flat. Attendees were impressed with announcements from the protocol, including Jump Crypto's validator going live. Pendle, a portfolio company of Arthur Hayes' fund Maelstrom, is down over 6.5%. Traders are concerned that Maelstrom has reduced its position in the project after Hayes promoted it in Singapore. Hayes stated that the reduction was to gain liquidity for a
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Powerledger Expands Into Solana Ecosystem To Promote Sustainability

According to Cointelegraph, Australian energy tech company Powerledger has announced its expansion into the Solana ecosystem, emphasizing shared values with the blockchain network amid growing interest in Regenerative Finance (ReFi). A spokesperson for Powerledger highlighted the alignment of innovation, sustainability, and transparency between Powerledger and Solana. These values are becoming increasingly critical as the world shifts toward ReFi and sustainability. ReFi aims to create economic systems that focus on restoring and enhancing social, environmental, and economic well-being, beyond just generating financial returns. CoinGecko data indicates that the total ReFi market capitalization stands at $110.57 million at the time of publication. The integration aims to increase the clean energy and sustainability narratives within the blockchain space. Powerledger’s co-founder, John Bulich, stated that the firm’s expansion with Solana mainnet not only enhances the narratives of clean energy within the blockchain space but also underscores that sustainability is a common goal that transcends ecosystems, reinforcing that crypto can be a force for good. Powerledger will integrate its products with the Solana Mainnet and cease operating its own Solana Virtual Machine (SVM) blockchain. Having operated on the SVM blockchain for over 12 months, Powerledger claimed it has gained valuable expertise on how to best use the SVM technology. This next step in expanding onto Solana mainnet is seen as a key milestone in building on an open and common platform. The POWR token will also be available in the Solana ecosystem as a native SPL token while remaining an ERC-20 token. CoinMarketCap data shows that at the time of publication, POWR is trading at $0.22, up 16.75% since Sept. 14. Powerledger’s blockchain-based transactive energy solutions include peer-to-peer energy trading, virtual power plants, and trading in carbon credits and renewable energy certificates (REC). This announcement follows the news on Sept. 13 that Worldcoin is launching seamless World ID integration for the Solana blockchain through a new cross-chain protocol from the Wormhole Foundation. According to a Worldcoin blog post, the Wormhole Foundation completed the cross-platform bridge two and a half months after being announced as a Wave1 Community Grants recipient.
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