SolSail - The First Community Token Fully Distributed On Solana

The total supply of SAIL has been distributed freely to the community, without the need to conduct an airdrop.

By
Utulu Hope
on
June 9, 2021
Category:
Breaking News

The High Seas

SolSail is the first ever community SPL token built on Solana and fully distributed randomly. As part of its 2021 roadmap, the digital asset platform published on Twitter about its newly launched website on the 8th of June 2021. In this article, we will give an insight into the native SPL $SAIL token, but first, let’s dive into the unique properties of SPL tokens. 


What is an SPL Token? 

The Solana Program Library token (SPL for short) is a collection of on-chain programs maintained by the Solana team. In essence, the SPL is the token standard of the Solana blockchain, like the ERC20 token standard of Ethereum and BEP-20 on Binance Smart Chain. Similar to the ERC20 tokens, SPL tokens are designed for Decentralized Applications (dApps). 


Introducing the SAIL Token 

The SAIL token is the native cryptocurrency of SolSail. It is the first ever community SPL token fully distributed on Solana, with a maximum supply of 21 million tokens. The total supply of SAIL has been distributed freely to the community, without the need to conduct an airdrop. This means that SAIL tokens were distributed randomly to the community, with no entry into a pool necessary. Presently, the token is available for trading on Solape and Fabric, but could move onto more platforms in the near future. 


SAIL Ecosystem 

SAIL will be the primary utility token of the SolSail ecosystem built on Solana. It will be used for gSAIL, dSAIL, vSAIL, and nSAIL. The longer that users hold SAIL and the more they possess, the more features they have access to on all SAIL ecosystem platforms. Below is a breakdown of all SAIL ecosystem platforms.

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dSAIL: This will be the full DeFi platform. It will have similar properties to Ethereum-based projects like AAVE and COMP. dSAIL will be a combination of both projects; the only difference is that it is built on Solana and takes advantage of its scalability, speed, and low fees. 

gSAIL: This is the governance platform, with its gSAIL and SAIL tokens. These tokens will allow users to create proposals for all SPL tokens under the Solana framework and have a license to vote for their favorite projects. Holding SPL tokens for voting, including gSAIL and SAIL, will give users more power. 

vSAIL: This is the main vault of the SAIL ecosystem and includes most SPL tokens built on Solana. It will provide vault complex and secured features such as investment strategies, Take Profit (TP), Stop loss (TP), Dollar Cost Averaging (DCA), and more. The vault could also be used for staking during gSAIL voting process. 

nSAIL: This is the NFT marketplace that will provide all the tools needed for NFT creators and collectors. All users will have the ability to create, trade, auction, and acquire their NFTs. 

The objective of SolSail with its SAIL ecosystem is to bring complete governance, DeFi, vault, and NFT solutions built on Solana. The token is not a security — anyone can buy and sell on any of the decentralized exchanges (DEXes) earlier mentioned. 


About SolSail

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SAIL (Created by SolSail) is the fastest and most scalable digital asset, enabling real-time global payments, DeFi, Governance, Vaults, and NFT marketplace anywhere in the world. 


Conclusion 

Now that the website is launched, we expect full ecosystem development to kickstart. These developments include the launch of all its ecosystem platforms explained in this article. The last of its development will be the launch of its nSAIL Opensail NFT market which will attract many users thanks to the positive NFT trend. For now, the ultimate focus remains on the launch of the other three ecosystem platforms, including exclusive airdrops. New partnerships, operations infrastructure, and marketing initiatives will be put to develop the SAIL ecosystem. Building on Solana will ensure that users trade SAIL tokens easily on fast and reliable Solana-based DEXes. SAIL is proud to be built on the Solana blockchain, and the ecosystem will benefit from SolSail’s contributions. 

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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.