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Market News

Ore Creator Proposes Incentives to Alleviate Solana Congestion

Written By Dishita Malvania Dishita Malvania
Published 2024-04-17·Updated 2 years ago
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Last updated: April 18, 2024 11:44 AM
Published 2024-04-17
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Last updated: April 18, 2024 11:44 AM
Published 2024-04-17
Ore Creator Offers Incentives to Alleviate Solana Congestion

Hardhat Chad, the creator of the Ore project, has proposed an idea to the Solana Foundation to incentivize testnet activity with SOL tokens. This suggestion follows a recent period of congestion on the Solana network, with transaction failures reaching as high as 75%.

Imho if solana wants to incentivize testnet spam, foundation should offer a SOL incentive

— Hardhat Chad (@HardhatChad) April 17, 2024

In a post on Twitter, Chad argued that offering SOL tokens as rewards could encourage users to actively participate in testing new features and protocols. This engagement, he believes, could enhance the platform’s performance and help identify potential issues before they impact the mainnet.

However, opinions within the community vary. Some support Chad’s proposal, seeing it as a positive step towards network improvement. Others, like TheSoftwareJedi, suggest a different approach. They advise Chad to prioritize building his project and suggest applying for foundation grants instead of relying on direct incentives.

Nooooo this is not the way. Build your project; do the testnet bridge. They can possibly prop up ORE price – but build it first, show them your good will. They will appreciate.

If you want some funding, get a grant from them. It’s WAY better if it’s a standalone project and not…

— Dana (@TheSoftwareJedi) April 17, 2024

Ultimately, the debate highlights the importance of community involvement and different perspectives in shaping the future of the Solana ecosystem.

Hardhat Chad made it clear that he’s not seeking financial support from the foundation. His vision for Ore revolves around establishing a robust currency rather than focusing on testnet tool development. 

He’s currently exploring new incentives to tackle spam effectively and questioning the necessity of prioritizing the creation of testnet spam bots.

This proposal follows Hardhat Chad’s announcement on social media, where he stressed the importance of temporarily halting mining operations for the benefit of the Solana network and Ore’s community. 

This strategic move also aligns with the project’s roadmap for developing Ore’s second version (v2), emphasizing a commitment to long-term sustainability.

Also Read: Drift Protocol Announces 100M DRIFT Airdrop for Solana DEX

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Dishita Malvania
By Dishita Malvania
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Dishita Malvania is a Senior Crypto Journalist at The Crypto Times, based in Ahmedabad, India. She manages extensive daily news operations, tracking global digital asset trends, major international summits, market momentum, and localized exchange environments. Her investigative reporting covers India's evolving regulatory updates and enforcement actions, ensuring comprehensive documentation of regional market upheavals. Dishita holds a B.Tech degree in Computer Engineering, with an additional certification in Digital Media. Before joining The Crypto Times, she built a massive catalog of tech and media coverage. Her core reporting beats include crypto regulation and policy, blockchain security and cybercrime, AI in finance, Web3 infrastructure, and crypto fraud investigations and enforcement actions. Her three years of high-volume digital journalism have shaped her rapid fact-checking capabilities, source communication, and clear reporting style, making her work widely cited across premier global news outlets including Entrepreneur.com, The Independent, The Verge, and Metro.co.uk.

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