The SOLS project has recently implemented the LibrePlex inscriptions, becoming the first SPL-20 project to do so. Thanks to a Solana-native two-way bridge, SOLS tokens can now be converted into SPL tokens and vice versa, enabling users to access a broader range of DeFi services such as CEXes, DEXes, and LP providers.
SOLS is one of the first tokens to adopt the SPL-20 standard, which enables a wide range of tokenized assets and use cases. One of the most innovative features of these tokens is their ability to be changed, unlike traditional NFTs' immutable nature. This allows for dynamic changes like native trait swapping or implementing day/night cycles in gaming NFTs, opening up new possibilities for digital art and gaming sectors. Another key aspect is the ranking system based on their creation order, similar to Bitcoin Ordinals, creating a sense of urgency to engage in the inscription process early. To inscribe an SPL-20 token, a user must possess update authority, usually given to the NFT's creator, ensuring that control over the process remains with the project owners. However, storing large files directly on the Solana blockchain may lead to issues like increased bandwidth requirements for validators and higher costs for infrastructure providers. Critics argue that Solana's native capabilities for managing complex NFT transactions and storage make SPL-20 tokens unnecessary. Despite these challenges, the possibilities brought forth by SPL-20 inscriptions are shaping a new future for digital art on Solana, offering secure, permanent, and fully integrated digital artworks within the blockchain network.
SOLS has a total supply of 21,000,000.
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