🏃🏻‍♂️‍➡️ GUN 2 SOL

GM! Welcome back. 

Today we’ve got loads of news for you about Solana, Off The Grid, OpenSea, Kraken, and more.

— Kate Irwin

Off The Grid’s GUN token is coming to Solana

Does expanding to Solana give a token “the juice?” 

Off The Grid developer Gunzilla Games is going to offer its GUN token on Solana in addition to Avalanche as part of its “multi-chain strategy.”

A Solana token version contract address wasn’t shared in the initial announcement. It’s currently unclear whether the Solana expansion changes the existing token’s supply or distribution schedule, though it’s possible an existing portion of the token supply (whether circulating or not yet circulating) may be moved to Solana.

Existing Avalanche GUN holders will be able to move their tokens to Solana if desired, according to the team. But the Gunz mainnet — which is an Avalanche subnet — and the studio’s other blockchain features are staying put (at least for now).

The Solana token version and token bridge option are slated to go live this week on Thursday. 

An in-game Solana-branded hoodie, sunglasses, and gun skin were also shown as part of the reveal. Gunzilla CEO Vlad Korolev and Solana Gaming’s Marketing Lead both suggested in an X Space that Solana cofounder Anatoly Yakovenko is being added to the game as a character (“Toly” is also etched onto the Solana gun).

“To evolve, to succeed, we at Gunzilla believe that you need to ship something today what [sic] will become very successful and famous — the product, which will be very successful and famous — and which our users and future users will love in several years ahead,” Korolev said during the Space. 

“So today, if you are working on something [that] is popular today, from our point of view, you’re already late. This is why we made a bet with Off The Grid when investing our resources heavily in our community-driven economy,” he continued.

GUN’s price remains down about 70% from its all-time high three months ago (but is up 45% in the past two weeks). It’s also worth noting that only about 6% of the total GUN supply is currently in circulation, a component that can impact price as more tokens unlock over time.

If we’re comparing chains, Solana simply sees more activity than Avalanche alone. Total network revenue combining REV from Avalanche’s C-chain, P-Chain, X-Chain, and Avalanche PAYG (Pay-as-you-go) fees was just over $1.5 million last quarter, while Solana saw an REV of over $819 million in that same period, according to Blockworks Research data.

Solana also saw over 8.5 billion transactions in Q1, while the Avalanche saw 32 million across that three-month period. 

The Gunz chain’s testnet has facilitated over 705 million total transactions, while its mainnet (still in migration) has seen over 8.9 million transactions so far. However, in all cases, it’s difficult to say how much of the activity is inorganic.

Off The Grid’s release on the PC game launcher Steam was initially expected to occur in June, but appears to have been delayed. The team said in a post over the weekend that they’re still “putting the final touches” on the Steam game version.

• OpenSea has acquired crypto-wallet firm Rally. They’re going to build an “onchain everything app” to rival Coinbase’s upcoming wallet push with its Coinbase Wallet overhaul.

  • This news comes after Magic Eden acquired the trading app Slingshot.

  • We’re so in the crypto superapp era. Really curious to see who wins this race.

• Kraken’s revving up a memecoin competition for its Kraken mobile app (not Krak) that’ll result in the most-traded memecoin being emblazoned across the rear wing of the Williams Racing F1 car beside the Kraken logo.

  • Only PONKE, TOSHI, PENGU, DOG, BONK, and LOFI are in the running. 

  • The winner will be unveiled after the trading frenzy ends August 8.

• There’s a “drug dealing simulator” called Addicted apparently coming to Solana — which, I’ll say, feels right for the current moment. 

  • It’s from a team that calls itself Pandemic Labs. They previously made a week-long, limited-time speculative simulation trading game, Infected dot fun, where player wallets could get “infected.” It initially launched on Base, until high transaction volume bottlenecked players with gas prices and spurred the team to move the project to Solana. 

  • Meteora is also affiliated with this upcoming launch.