The tokens planned for removal from the Solana stake account for 13% of the entire supply of the cryptocurrency. Solana, the cryptocurrency backed by fallen crypto mogul Sam Bankman-Fried, tumbled on Wednesday amid concerns that large holders may be about to offload the token. By utilizing a token transfer URL scheme, Solana Pay ensures interoperability across wallets and services, making it easy for businesses and developers to accept payments in SOL or any SPL token without intermediaries. UTC. Follow the subsequent prompts and accept permission requests. stake Tokens forfeit to the cluster if malicious validator behavior can be proven. In 2025, the price of. Token prices are going up again , just above $23 per token on the. In this episode of the Fundamentals podcast, we're joined by Anatoly Yakovenko – Co-Founder of Solana – to discuss what Solana’s core value proposition is, the optimizations Solana has focused on, and how they are positioned within a multi-chain ecosystem. To make a JSON-RPC request, send an HTTP POST request with a Content-Type: application/json header. Security and Exchange Commission’s (SEC) classification of its SOL token as an unregistered security. The $1,000 milestone may seem. Earlier this week, the SEC filed lawsuits. Could it reach $1,000 within the next few years? It depends. The Solana price is $57. Definition Solana is a crypto computing platform that aims to achieve high transaction speeds without sacrificing decentralization. $0. ; SOL tokens can be purchased on various cryptocurrency exchange platforms. import * as anchor from "@project-serum/anchor"; import { Program } from "@project-serum/anchor"; import { YourProgram } from ". The SOL used to add validators to the pool comes from the stake pool's reserve account. To reorder the list, simply click on one of the options - such as 24h or 7d - to see the sector from a different perspective. Solana once soared to $260 per token, with dreams of a $1,000 price target. 72 on Monday and a low of ₱2,883. Learn why Solana is used by the best and brightest teams in crypto. Solana subiu 5. Jupiter is the key liquidity aggregator for Solana, offering the widest range of tokens and best route discovery between any token pair. why solana. The Solana network is in the process of rolling out several improvements and has vastly improved on its. There was a problem loading cluster stats. In the Solana blockchain, there is a separation between the program and the data/state of the program. Cryptocurrency enthusiasts have a new way to acquire Solana tokens (SOL) - Solana faucets. 현재 코인마켓캡 순위는 #6위이며, 실시가총액은. To enable low-cost and high-speed transactions, Solana was chosen as the underlying blockchain. 50 – which is just above the region it is trading in as of early 2023. 00 for 0. Solana Pay is a powerful and flexible JavaScript library that enables seamless commerce on the Solana blockchain. Then, we “ ” into this new folder: cd python-backend. Since its all-time high of $260 per token in mid-2021, Solana has since hit lows of $8. Solana Pay, a free-to-use payments platform, enables retailers to accept direct client payments over the Solana network. We’ll use MetaPlex cli tool along with our arweave URI created in step 7 to mint the NFTSolana token’s SOL is a native crypto token used for transactions on the blockchain, including micropayments. Sending Solana Program Library (SPL) Tokens is a critical mechanism for Solana development. It has gained over 13,300% since then -- 1 SOL is now worth $202. 12 (3. Its native token, SOL, is currently ranked ninth in market cap among all crypto — and interest in Solana NFTs has risen rapidly throughout 2022. Token Program. You would need to have GitHub account. Solana 1Y Chart SPL Token is the standard for wrapped/synthetic token creation and exchange on the Solana blockchain. 29 on Dec 23, 2023. Solana token standards are stored in the Solana Program Library, which is a depositary of software programs that run on the Solana blockchain’s runtime. Eliminate fees. /wallet. Therefore, when you invest in Solana, you’ll be buying SOL tokens. Solana is an open-source project implementing a permissionless blockchain. Whether it’s interacting with multiple contracts, automating tasks, or exploring other functionalities, the powerful blend of Solang, Solana, and Ethereum presents an. As with most smart contract platforms, SOL is used as Solana’s gas token, used to pay for all on-chain transactions and smart contracts. With the token’s inflation rate as of July standing at 7 percent — paid on a supply of 394. A token program on the Solana blockchain, defining a common implementation for fungible and non-fungible tokens. Note that this is an 'epoch-year', or ~180 epochs. Each token transaction’s gas fee is paid with SOL. 👉 Summary: This project will enable the two parties to securely, quickly, and reliably send and receive SOL tokens over the Solana blockchain. 1. Start by doing: spl-token create -token. The native cryptocurrency for the Solana blockchain network is SOL, which functions as its utility token needed to pay for transaction fees for using the network, transferring value and compensation for providing security to the chain via staking. Apps listed on the Solana dApp Store will be able to offer Saga user-only benefits and rewards based on ownership of the Saga genesis token. Solana smart contracts support code in Rust and C/C++. Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the Solana network directly from ChatGPT. Solana's price history has been a rollercoaster ride, reflecting the volatile nature of the cryptocurrency market. Tokenized Real Assets-Solana enables the tokenization of real-world assets, such as real estate or commodities. 8% over the past 24. Update History: Nov. ; Solana networ’s native token SOL is used for various purposes such as micropayment and staking. Market Cap $126,953,002,466. $92. Since validators are also chosen based on the amount of stake they hold in the network, the biggest staked validators are likely to be chosen to input transactions on the blockchain. Initialization of a pool between two token types, which we'll call "A" and "B" for simplicity, requires the following accounts: empty pool state account. OpenSea, once the leading marketplace for non-fungible tokens, was built on a promise of royalties to digital artists each time their. 0%. Solana is a programmable blockchain that strives to perform high-speed transactions without losing its core feature, decentralisation. SOL is the native token of the network and used to pay nodes in a cluster to run onchain programs, validate their outputs, stake/secure the network, and transact. Phantom – Multi-Chain Wallet Optimized for Solana. As of July 17, there were 345. See the SPL Associated Token Account program for convention around wallet address to token account mapping and funding. Please check "I want to add metadata to the Solana token on cli". Someone who has participated in the Solana ICO (initial coin offering — a way to crowdfund a project by selling project tokens) was able to buy SOL for $0. Solana's token fell from $141 to a low of a little over $94. 87%. js, POW faucet, and more. Revolutionary Secure Messaging & Trading Dapp powered by. json. The crypto's price now hovers around $23, raising questions about its future prospects. js and @solana/spl-token. So far this year. SPL tokens can vary greatly in their functionality—some can be NFTs, others can be fungible but with a small circulating supply, and others can combine the functionality of various other types. GameFi projects leverage Solana for play-to-earn gaming experiences. Top cryptocurrencies have been enjoying incredible bullish momentum recently, and Solana 's ( SOL 0. About Solana. View the code. Solana continued its remarkable rally Wednesday and hit a 14-month high price, but sell pressure may soon hit the market as FTX unstaked another $65 million of tokens after moving millions of SOL. sysvar A system account. We will use these to create, mint, and transfer Token-2022 tokens. This schedule is completely and uniquely parameterized by. Create a new project directory in your terminal with: mkdir mint-fungible-splcd mint-fungible-spl. Media Contact. The repeat feature enables Uphold users to set up automatic recurring trades for buying, selling, or converting between different assets. If and when Solana o ers for sale any tokens (or a Simple Agreement for Future Tokens), itThe SOL token distribution is as follows: 16. You can also store and stake your SOL tokens. 96 in November 2021, the company’s most successful month to yet. 7 views. 76 million through a public token sale. Token Mints Each type of SPL Token is declared by creating a mint account. 42, a change of 0. Live Cluster Stats. The Solana (SOL) token Solana’s cryptocurrency is SOL . Solana saw its native token SOL drop by at least 30% at times after the FTX collapse since SOL was Alameda’s second-largest holding. Minting crypto is the process of generating new coins by authenticating data, creating new blocks, and recording the information onto the blockchain through a proof of stake protocol. 96. To interact with the function we must provide the data as a Buffer format. The price per SOL is now $208 — a. The Contract Address 0xfea6ab80cd850c3e63374bc737479aeec0e8b9a1 page allows users to view the source code, transactions, balances, and analytics for the contract. Step 2: Get an Address’ SPL Token Balance. solscan; explorers;The native token of a Solana cluster. Solana’s proof of stake network and other innovations minimize its impact on the environment. Its native cryptocurrency is SOL. For example, it can display a user’s portfolio of NFTs and the balance of various tokens. Neither the Solana team nor Solana Foundation profit from the sale of these tokens. This is what we are starting with: Our first step is to create a “python-backend” folder. These fees are paid by users to validate and. 140. To add a new validator to the stake pool, the staker must use the add-validator command. This account stores metadata. The Solana token, or SOL , has dropped 53. How many Solana coins are available? In total, 67% of Solana’s supply is currently in circulation. List of tokens issued on Solana platform. The value of Solana tokens has fluctuated greatly since the system's inception. This will call the default token program on devnet through the Chainstack node that we deployed earlier, and this will be about 9 decimals by default. 5 million Solana tokens in circulation. 31 USD with a 24-hour trading volume of $2,119,419,458 USD. 8 billion more in the exchange’s coffers from those two tokens alone. BTC $37,341. e. It is closely behind Binance Coin (BNB) and Tether (USDT). 674% and will decrease by 15% every year. Step 1: Select a reputable and secure wallet that supports SOL staking, such as the official Solana Wallet or Exodus . If this sounds exciting and you want to get into Solana token development, follow along in this step-by-step guide covering the entire process. FTX held about 59 million solana tokens and 21,482 bitcoins. 80%) SOL token is benefiting from the surge. Select is focused ,type to refine list, press Down to open the menu, Search for blocks, accounts, transactions, programs, and tokens. Update History: Nov. How To View/Interact with a Contract's Code. Track your $SOL and Solana-related tokens to get information on transactions, blocks. Fi and click on “ Stake Now ”. You'll receive a unique device-bound non-transferable NFT upon setting up your Saga and Solana dApp Store. A visual interface such as this, combined with Web3 authentication, forms the basis of a dapp’s simple DeFi dashboard. supermajority 2/3 of a cluster. The JSON schema for the tokens includes: chainId, address, name, decimals, symbol, logoURI (optional), tags (optional), and custom extensions metadata. If you don't mint your own NFTs, there are secondary marketplaces to purchase Solana NFTs, such as Magic Eden that accounts for around 90% of trading volume. 76 in 2023. Some store and back up private keys more securely. 21: Added Solana Foundation asset information and clarification about USDC and USDT on Solana. . Solana's native token SOL has rallied 20% in the last 24 hours, continuing a three-week upswing that erased the asset's yearly losses – and then some. SOL tokens have two primary functions: Staking: SOL tokens can be staked by users as part of the Proof-of-Stake (PoS). The platform incorporates "composable building blocks" that make it easier to create apps that work and work. The SOL token can be used to run a verifier node and earn a staking reward. 44. Solana’s token reached an all-time high of $259. It employs a bundle of novel approaches, including the “proof of history” mechanism. SOME QUESTIONS YOU MIGHT HAVE. View Solana (SOL) cryptocurrency prices and market charts. Along with the slide in nonfungible tokens, which represent collections of things like artworks. Explorer. The SOL token has two main use cases: The 100 richest solana holders on CoinCarp were anonymous wallets, which makes it harder to speculate who owns the most solana. Today, the staking ratio, or the percentage of eligible tokens currently being. 23 views. Long-term projections indicate that the solana coin will appreciate in value. You use Connection in order to define which Solana network you are connecting to, namely mainnet-beta, testnet, or devnet. While this is not the native Solana token that is deployed on the Solana network. Solana's annual inflation rate is currently 5. If you don't mint your own NFTs, there are secondary. SOL tokens are its native cryptocurrency and are used to pay its transaction fees. With a better understanding of the Solana blockchain and what SPL tokens are, we can move on to the central part of. So far this year. In September 2021, the Solana blockchain’s market capitalization surpassed $63 billion, and by early November 2021, it had reached $74 billion. tpu-client. Wormhole connects ETH and ERC20 tokens to SPL Tokens, the token standard of the Solana blockchain. In addition to staking, SOL is used to transmit value on the Solana network. 50% is allocated to Team. Solana’s proof of stake network and other innovations minimize its impact on the environment. 7 million staked tokens — an additional 27. The first NFT marketplace that enables creators to choose and embed licenses when they mint NFTs. S. This includes the ability to stake LANA tokens directly on the Moonlana website. Replace <token identifier> with the actual token identifier you copied out. SOL uses the SPL protocol; SPL is the Solana blockchain’s token standard, similar to ERC-20 on Ethereum. Further details on the Staker Price. Before sending tokens on the Solana blockchain, make sure you have enabled blind signing in the Solana app settings on your Ledger device. Bonk (BONK), a. MetaMask is among the most well-known wallets, not custodial, with over 30 million customers, and is compatible with many EVM-compatible cryptocurrencies like. The Contract Address 0x570a5d26f7765ecb712c0924e4de545b89fd43df page allows users to view the source code, transactions, balances, and analytics for the contract. 57% since it first started trading. The Token Metadata program is one of the most important programs when dealing with NFTs on the Solana blockchain. The Solana (SOL) token Solana’s cryptocurrency is SOL . The U. 35. Along with an 11% rise in bitcoin, there is now approximately $1. Whether you are airdropping whitelist tokens to your community, bulk sending NFTs to another wallet, or managing token flows between escrow accounts, you will inevitably need to be able to transfer SPL tokens. 22, with a market cap of 423,104,814 SOL. Bonk (BONK), a Solana token that began life as a meme coin in January, has surged 66% over the past 24 hours to extend a week-long rally to over 170%, data shows. 1 answer. Its Wormhole token bridge connects Solana to other blockchains but was recently the victim of a massive $320M exploit. A Solana Faucet is a tool that allows developers and users to easily obtain test tokens for the Solana network without any cost. m. Solana’s native cryptocurrency is SOL, which is used to pay transaction fees and for staking. Solana has its list of blue-chip NFT projects, including DeGods, Taiyo Robotics, Blocksmith Labs (BSL), and Famous Fox Federation. Solana supports multiple types of wallets so you can choose the right balance of security and convenience. 16 trillion, per data. The value of Solana has been highly volatile since the network’s launch. The program is still under audit and not meant for full production use. Async connection creation in connection. The easiest option is to use a centralized exchange such as Coinbase or Kraken to buy SOL with fiat. com). For example, the quote token of a DXL/USDC market is USDC. Listed below are the top crypto coins and tokens used for Solana Ecosystem. js and @solana/spl-token. 4% decline since yesterday. 41% in the last 24 hours and a further 42. November 25, 2023 - The current price of Solana is $58. SOL 대 KRW 가격을 실시간으로 업데이트합니다. On your Ledger device, open the Solana app then go to Settings > Allow blind signing and press both buttons to select Yes. Solana ( CRYPTO:SOL) is a blockchain platform known for its speed and efficiency. 689% and will decrease by 15% every year. Solana , however, dropped as much as 10% in the past 24 hours, adding to a 20% slide over the past week. That account is referred to as an Associated Token Account or "ATA. 36% on Wednesday, and is down 94. The. Tokens built on Solana are SPL tokens, whereas Ethereum tokens utilize the ERC20 standard. Solana's mainnet was officially launched in March 2020. The value of Solana’s native SOL cryptocurrency is derived from its utility. FTX, which was a major crypto exchange, held $1. It's been another crazy few weeks for Solana (SOL 1. 80 at press time. 5 Million Solana Staking Stats as of July 17. The above code takes in a TransactionInstruction using SystemProgram, creates a Transaction, and sends it over the network. The angular and uniform lettering take cues from 1980s tech aesthetics, updated to feel fresh and futuristic. Minting. Many individuals primarily use SOL as the medium of exchange to transfer value between each other using the Solana blockchain. A token program on the Solana blockchain, defining a common implementation for fungible and non-fungible tokens. Solana is publishing this White Paper solely to receive feedback and comments from the public. Logotype. Thanks to its fast and cheap transactions, maybe NFT enthusiasts and creators have called Solana home for their NFT projects, therefore it is no surprise that numerous decentralized applications (DApps) in. Note that this is an 'epoch-year', or ~180 epochs. Solana trading volume in the last 24 hours is $ 4. The lawsuit was filed by the plaintiff, Mark Young, with Roche Freedman LLP and Schneider Wallace Cottrell Konecky on behalf of all investors who bought Solana (SOL) tokens from March 24, 2020. This is a profitable choice for SOL holders as stakers receive half of transaction fees and most of the emission of new tokens. Explore Token API . The Token-2022 Program is a superset of the functionality. SOL tokens are its native cryptocurrency and are used to pay its transaction fees. Its solana price prediction for 2030 saw the coin potentially climbing to $246. 22. The program is still under audit and not meant for full production use. The network uses a novel mechanism called the proof-of-history. Solana Labs, Inc. SOL 대 KRW 가격을 실시간으로 업데이트합니다. Distribusi token SOL adalah sebagai berikut: 16,23% digunakan untuk penjualan awal, 12,92% token didedikasikan untuk penjualan pendiri, 12,79% koin SOL didistribusikan di antara anggota. SOL is used to transact within the Solana network, to stake for governance purposes and is given as a reward to validators. In addition, you can also use this. Trading volumes and market. Solana operates as a single global state machine, and is open, interoperable and decentralized. 01, which is a weighted average across 87 crypto exchanges. This document makes no suggestion as to the monetary value of SOL at any time. 2X. Compare the daily prices of Solana (SOL) in PHP and. 06. O preço de agora de Solana de hoje é de R$284. Launched in 2021, Moonlana is a Solana-based meme coin with a 5 billion token supply. Founded in 2015, Uphold boasts its “Anything to Anything” trading philosophy, allowing traders to convert directly between 250 different cryptocurrencies, 27 national. The platform works with the C and C+ programming languages, as well as Rust, with more integrations on the way. 1 Staker Price Guarantee. As soon as you select your Binance Smart Chain network, scroll down and click on “Import tokens” in the Metamask window. Coinbase Wallet browser extension now offers support for sending, receiving, and storing Solana and SPL tokens. 25% across the previous seven days, according to data retrieved by. 10, Solana’s price is still over 4x below its all-time high of $259. Solflare Unified Token List Aggregator is the best list of token metadata at the current time. The process of staking SOL tokens on Lido. 14%) ETH. The Solana Token Program derives "a token account key from a user's main System account address and a token mint address, allowing the user to create a main token account for each token they own" (Source: spl. The current circulating supply is 423,104,138. How to buy Solana Solana is one of the best-performing digital currencies of recent years – with the popular crypto asset growing by nearly 2,000% in 2021 alone. Solana ranks 6 by trading volume and is trading on 87 crypto exchanges. js spl-token rust transactions metaplex nft pda account more tags. 882389 SOL, excluding fees. Note: If you have experience building Solana programs, the PDA is seeded by: the public key of the token mint, the public key of the token metadata program, and the term 'metadata. There was a problem loading cluster stats. The developers behind Solana-based meme coin BONK burned their allocation of 5 trillion BONK tokens early Friday, in a bid to stem the token’s bearish momentum. 78 on Nov. As indicated in the snippet of code in the intro, this endpoint takes in two parameters: network and address. 2. 51 and Solana's market cap was around $86 million. The Solana ecosystem also has a number of other tokens built on top of it. It started off with a modest price, but as the project gained recognition for its high-speed transactions and scalability, the price began to rise. ts and mint. Intergalactic SOLANA metaverse featuring PvP space. This mechanism keeps the blockchain decentralized by having different holders of the Solana token (SOL) validate transactions on the Solana blockchain. You’ve probably heard of several of them like sol (on Solana), bitcoin and ether (on Ethereum). Application developers should target Devnet. You can exchange Solana with 254 other cryptocurrencies. The Token-2022 Program is a superset of the functionality provided by the Token Program. Step 2 – In the “ Solana ” section, click on the “ Stake Now ” button. What Is the Solana Token-2022 Program? Like Ethereum-native ERC-20 tokens provide a consistent set of rules and conditions on the Ethereum blockchain and other EVM networks, Solana’s SPL token standard is the basic architecture for cryptocurrencies and NFTs living on Solana. It conveys speed and celebrates the concept of building. Advertisements. Supported Wallets Several browser and mobile app based wallets support Solana. 02 early Monday morning. A ChatGPT Plugin for Solana. In. Install the Solana release v1. id: <number> - a unique client-generated identifying integer. TS. Solana Foundation telah mengumumkan bahwa total 489 juta token SOL akan dirilis dalam peredaran. The network uses a novel mechanism called the proof-of-history. Once you have that collected, you can transfer tokens with the solana transfer command: solana transfer --from <KEYPAIR> <RECIPIENT_ACCOUNT_ADDRESS> <AMOUNT> . By Danny Nelson, Nikhilesh De. The current estimated reward rate of Solana is 5. The Solana Program Library (SPL) is a collection of on-chain programs targeting the Sealevel parallel runtime . Let's break that function down: The transfer_spl_tokens function takes a Context and an amount as its arguments. The first B2E/P2E virtual platform provides the ability. Or to recover the account's lamports, pass it as theSome Solana ecosystem tokens and meme coins are gaining value from SOL’s 110% rally over the past month, a sign of rising bullish expectations for the blockchain among investors. See the project status. 01 on Tuesday morning, lifting its seven-day gains to more than 67% and giving the token, which debuted only 18 months ago, a market. Distribusi token SOL adalah sebagai berikut: 16,23% digunakan untuk penjualan awal, 12,92% token didedikasikan untuk penjualan pendiri, 12,79% koin SOL didistribusikan di antara. As a cryptocurrency, Solana is known for its fast transaction speeds and low transaction processing costs. We do this by entering the following command into our terminal: mkdir python-backend. Solscan is a scanning tool that tracks all of Solana and Solana-related token transactions. The SOL token can also be staked to help support the security of the network, allowing users to earn rewards. July 2022 Solana Circulation: 345. It's grown 13,300% since Jan. json. SOL can be used to secure the network through staking, either as a validator node or a delegator. 2. While Solana Labs remains the primary contributor to the network, there is also the Solana Foundation. The Solana foundation holds the tokens dedicated for validator rewards. Solana Token Registry is a package that allows application to query for list of tokens. An Associated Token Account is created via the Solana Associated Token Account Program, which holds information about a specific token, its balance, and its owner. Minting crypto is the process of generating new coins by authenticating data, creating new blocks, and recording the information onto the blockchain through a proof of stake protocol. The Token-2022 program provides additional functionality on mints and token accounts through an extension model. 84, and SOL is presently ranked No. This has resulted in Solana becoming a top-10 cryptocurrency in terms of market capitalization. 24% nas últimas 24 horas. Some Solana ecosystem tokens and meme coins are gaining value from SOL’s 110% rally over the past month, a sign of rising bullish expectations for the. Some store and back up private keys more securely. How to Buy Solana (SOL) Using the Repeat Feature on Uphold. 96. 24 hours ago the reward rate for Solana was 5. SOL token holders can earn rewards and help secure the network by staking tokens to one or more validators on Solana’s Mainnet Beta. Moving forward, the Solana Foundation will be releasing a monthly transparency report to cover the previous month’s token activity, expected token activity for the. Solana’s native token is the SOL token, comparable to Ethereum’s ETH. Either way, Solana, which itself has a $12 billion market cap, isn’t interested in competing with Ethereum and other cryptocurrencies on every front, suggests Yakovenko. There is typically one account for each token type. SOL is building up its popularity in the cryptocurrency world and that has made Solana’s price perform well. 5-8% APY Kraken Solana Staking Rate. Any plans to do so will be. Solana is one of the top blockchain platforms for the most popular cryptocurrency investment options, including NFTs, staking, and storing tokens and coins. SOL is the native token of the Solana network. What is Solana’s cumulative return since the day it first started trading? Solana has grown 6,063. They are listed in size by market capitalization. Solana Price Prediction Turns Bearish – Is $50 Still Possible? The Solana price is facing an unexpected resistance at the $42 price mark, considering that SOL has been unable to flip it into a support this week. 87% over the past 24 hours as of 5:12 p. Solana is 77. 92% of tokens were dedicated to a founding sale, 12. Note here that we are establishing a connection to the local cluster. As the world's first web-scale blockchain, Solana will unlock a whole new class of performant applications and facilitate larger scale blockchain adoption. As an open-source blockchain platform, Solana is used by developers of non-fungible tokens (NFTs. SOL is Solana’s native utility token, which the network burns as part of its deflationary model. Fi is as follows: Step 1 – Go to Lifo. A good example of this is Raydium – considered one of the best decentralized exchanges on the Solana network. As token usage has evolved on Solana, it has become clear that there are more types of tokens than simply "fungible" and "non-fungible" tokens. Solana (SOL) is a cryptocurrency that was designed to work. While Moonlana is a meme coin in nature, it also offers use cases for token holders. Jul 6, 2022 at 11:48 p. They are listed in size by market capitalization. 1. SOL is also useful to developers and. Stablecoins, such as USD coin (USDC), meant to. About Solana Labs, Inc. This means you can exchange 5 SOL for $283. It is used to pay gas fees on the network, but also for staking, so users can support the network’s security and earn inflationary rewards.