Author: Frank, PANews
On July 14, after the Blink function was launched, the first ecological community token $SEND was officially raised and issued. The official hard cap was set at 999 SOL, and eventually 720,000 SOL deposits were obtained (the excess amount will be refunded), with a value of over US$100 million, surpassing the 41 million WATER tokens raised in June, becoming the token with the highest pre-sale amount on the Solana chain.
This is not the first time that SEND has become a hot topic. On July 7, SEND released 100,000 NFTs through the Blinks function. The price of this series of NFTs soared after it went online, with the highest single-day increase reaching 10 times. The short-term trading volume surpassed well-known NFTs such as BAYC and Punks, becoming the number one in the entire network.
Will the content and products on Blink become a new gathering place for wealth codes? After research, PANews believes that Blink may build a unique ecosystem, but it is still in the early stages of development. Previously, we have written about the functions and content of Blink. (Related reading: Detailed explanation of Solana's latest Blink function: the launch triggered a great discussion in the community, is it a killer application or just a fancy trick?)
Pre-sale raised over $100 million, but post-listing performance was poor
SEND's official introduction is "a community token used to incentivize BLINKS interaction and development on Solana." Its tweet was retweeted by Solana's co-founder Toly. At present, the composition of the team behind it has not been revealed. Judging from SEND's official website, SEND is likely to provide token minting, trading and other functions around Blinks. The website currently has only a simple webpage and cannot be interacted with.
Many of the products that have passed the Blink review have been put into use. Although SEND has not yet released any products or tools, as the first project in the Blink sector to officially issue tokens, raising more than $100 million also proves that the market has high expectations for Blink. In the end, SEND still insisted on setting a hard cap of 999 SOL and returned the remaining SOL to users. But perhaps because the total pool of tokens is too small, this token did not trigger a surge in the market after it went online, but instead fell rapidly after reaching a high point.
155 products in the ecosystem have passed review, could there be a strong competitor to Pump.fun?
After nearly two weeks of development, the newly added projects on Bink have experienced rapid growth, from the initial few demonstration contents to 155 projects on the list on July 15, of which 153 are marked as trusted and 2 are marked as malicious. Among them, many projects have only registered links and there is no product content on the webpage.
In addition, among these projects that have passed the review, 25 are domain names registered specifically for Blink, and the rest are mostly applications registered by projects in the Solana ecosystem to be compatible with the Blink function. However, some developers have revealed that Solana's review efficiency is low. ZEN, the founder of blinkeditor, said that he developed three Blink products and passed the review 10 days later. However, from PANews' observation, since ZEN's complaints, Blink's review speed has increased a lot. On average, 5 new products are launched every day.
Among the Blink products that have been launched, blnk.fun and blinkeditor (the official Twitter account of blinkeditor is currently banned) are the two that have received the most attention from the community. Both of them have integrated the function of issuing tokens with one click. From the experience point of view, the issuance process is similar to Pump.fun. Users only need to set parameters such as quantity, price, introduction, etc. to issue a token, and after sharing it on social media such as Twitter, it can be purchased directly by users.
The current functionality is still in its early stages, and there is no phenomenal token yet. However, from the perspective of product features, the tokens issued by Blink have advantages over Pump.fun in several aspects.
First, the dissemination of Blink’s MEME tokens can be done by directly sharing links and purchasing on Twitter, which can maximize the social influence of the disseminator. Once the distribution function, which has not yet been fully developed, is launched, it is foreseeable that it will maximize the community’s ability to spread.
In addition, Pump.fun’s biggest advantage before, in addition to the one-click coin issuance function, is that it has some social functions that can form an information aggregation platform for MEME coins, but compared with Twitter, this point of information aggregation is no longer an advantage. In addition, the developer identity authentication, community influence indicators and other functions that Pump.fun has always lacked can also be more intuitively presented on social media such as Twitter.
However, it may still be difficult for Blink to replace Pump.fun as the gathering place for Golden Dogs in a short period of time. Compared with Pump.fun, Blink's function is overly dependent on the personal influence of the publisher and there is currently no platform for aggregating token information, which may lead to insufficient concentration of traffic.
Or build a new ecosystem
After a few days of experience and research, PANews found that Blink may build a new ecosystem. A number of tool products will appear around Blink, such as Blink product summary (blinkfans), MEME coin issuance (blnk.fun), one-click release of Blink links (blinks.best) and other tools, and artists or influencers can use these platform tools to develop their own MEME tokens or NFTs without code and issue them directly on social media. Users try to profit by discovering these potential wealth codes. Developers need to adjust products and develop new needs according to market needs. The development of this ecosystem may not be limited to the encryption field in the future. For Twitter, this seems like WeChat adding a payment function.
According to the content of SEND's article, more than dozens of ideas have been proposed. However, only when these ideas are realized can the real Blink boom come.
Of course, most of the products released by Blink are still centered around the issuance of MEME coins, and most of the approved links are new functions added to old projects. For project owners and developers with ecological construction capabilities, the current competitive environment of Blink is still relaxed, and for ordinary investors, Blink should have the gene to create a wealth code, but in its current state it may be more suitable for experiencing products and keeping an eye on them.