Its another day in paradise for the mines ⛏️
The past few days have been filled with:
- liquidity experiments,
- innovations and user growth on auto miners,
- Many new miners hitting their first solo Ore.
All whilst crossing majors milestones such as $10m in protocol revenue 💰
Flipping Pump Fun and new liquidity experiments
A huge moment came for all miners when for the first time Ore flipped Pumpfun to become the #1 revenue generating protocol on Solana.
This is a moment many had been waiting for as the ethos of leaving the trenches and entering the mines signalled a change of times. Even on quieter days, Ore stays strongly inside the top 20 of all crypto protocols for revenue.
With success come new challenges and opportunities for experiments which for Ore meant the introduction of liquidity provision by the protocol to tweak how the Solana for buybacks is used.
Originally this was proposed in a form of 50/50 LP split but this was quickly iterated after community feedback and instead create a floor under the current spot price with the goal of soaking up sell pressure. The Ore gained will be claimed for burying and sharing stake yield as per the usual buybacks.
The split of how this will combine with normal buybacks is yet to be discussed and decided, but the best way to visually represent this new method is as per
@0xwitchy's bottom left graphic above☝️
The apps built on top of Ore keep on evolving
From
@DegenFaragu's orelette game that works on top of Ore, to enhancing the UI's of their autominer, creating an ELI5 section and having a winner's strategy section by Refinore from
@nftimm &
@JussCubs, the builder community of Ore has had an inch of sleep with all of the shipping that's going on.
Another integration that has gained the eyes of many is the FLP.8 integration from
@FlashTrade by
@SpuddyA7X &
@willdxyz's Minemore. Here users can deposit Sol to automine, auto claim and with it auto deposit into the FLP8 pool for further APY!
The
@Ore_Miner_io latest development features a dashboard that includes a predictive AI forecasting growth of your mining activities with your strategies.
One development that wowed everybody was the
@photofinishgame lightning races that let you mine Ore through betting on the horses below and then watching the race for each mining round that completes.
The better the strategy the better the mining
With the founder of Solana, Anatoly, showing support of the Ore ecosystem by both arguing for its SoV standing and reposting products such as OreMiner, growth has been abundant for Ore and its Auto Miners.
Combined Auto Miners or games of their kind have over 1,500 users actively mining and with this come many different strategies. From lottery strategies that use a small amount of sol to bigger plays that use 0.25 sol per round, there is a method for everyone and it is showing great results.
One smaller play winner was
@daster_io who won a Solo ore using only 0.0006 sol whereas other strategies deployed by people like
@CryptoDensetsu gathered 3 ore over a single night!
The Hardhat stays on
In addition to all of the ongoings above, prominent community
@thelibraryvc have declared the beginning of a strategic Ore reserve from the proceeds of their next auction on Dec 5th - Dec 6th. Will the sage that is auctioned at this time feature a hardhat to commemorate the newly established reserve?
I am sure that there are many things I have missed in this write up but I hope you enjoyed reading this update on the ever expanding Ore community and its builders. It'll be exciting to see what the next week brings!
See you in the mines 👷⛏️