Solana Labs launched a new subsidiary, Solana Mobile, which offers Saga as its flagship product. As part of Solana Mobile, developers will have access to a toolkit to develop mobile-first crypto applications. On Jun 23 2022 , Solana Labs announced it would develop its own brand of smartphone, making it a first for a major cryptocurrency company. It will cost $1,000 when it launches in the first quarter of 2023. The Solana Saga is a top-spec, 6.67-inch Android phone. This new crypto trading app, called Saga, was announced at a keynote in New York. It makes it easier and safer to trade cryptocurrencies on smartphones.
As part of Solana’s efforts to make cryptocurrency apps more mobile friendly, The Saga plays an important role. In comparison to their desktop counterparts, crypto applications, decentralized finance applications, and NFT apps tend to have limited or unmanageable mobile user interfaces. There are three main tools in this open-source software: Mobile Wallet Adapter, Seed Vault, and Solana Pay. The wallet adapter allows Android apps to connect to crypto wallets stored on the device. A hardware wallet’s security is matched by an internet-connected wallet’s usability by partitioning seed phrases from apps on the phone. Solana Pay, similar to Apple Pay and Google Pay, allows users to transact with Solana cryptocurrency.
When the Saga Phone was announced yesterday 1,209 wallets placed preorders on Solana blockchain. Almost wallets except one were able to order only one phone. The wallet 7asAobvVFsckX8iaiCwuLj31PwDLsitLhtMdF2pZc9wg , which seems to be a special one, managed to place 5 pre orders while everyone else was limited to only one phone order. Here is a chart showcasing the same information.
So when the preorders start? The first preorder was placed on June 23rd 2022 at 12:00:00 and followed by few couple of orders in next 4 hours. The flood gates for preorder seems to be opened at 23rd June at 18:00 and that hour attracted 341 preorders, the maximum number of preorders recorded in an hour. Bulk of the phones were ordered in first 8 hours of preorder opening.
Profiling Saga Phone Preordered Wallets – Past 180 Days Activities
Now lets us try to understand the behavior of wallets that preordered the Saga phone. We are going to profile them by exploring their activities for the past 180 days in various segments like
- How much money they transferred most in a single transactions?
- Maximum number of tokens they swapped in a single transactions?
- How many NFTs they minted?
- How many times they participated in governance voting?
Lets us start by exploring the maximum amount of money these wallets transferred in a single transaction. Based on data available on on-chain around 55% of the Saga phone preordered wallets transferred less 1000 USD in a single transaction. This shows that majority of wallets that preordered Saga phone are not whales and they are retail users.
If we consider any one who transferred $500 USD plus in a single transaction as a whale then we find only 3 whales who preordered Saga Phone.
What about the swapping behavior of these wallets? The swapping behavior is in sync with the amount of money these wallets transferred. Most of them, 471 out of 1209 wallets, has swapped less than 1,000 USD in a single transaction. Only 3 wallets has swapped 500K USD or more in a single transaction.
NFTs are still strong though crypto winter is in full swing! So lets us look at the NFT minting behavior of these wallets. The following chart shows the number of wallets minting NFTs by mints. As you observe in the charts, the section that minted “11 to 50 nfts” has most number of Saga Phone preordered Wallets. Around 204 wallets has minted more 11-50 nfts in the past 180 days.
So are there any real crypto citizens out here? LetsSo are there any real crypto citizens out here? Let us explore how many of the wallets participated in voting of governance proposals in the past 180 days. There were about 17 wallets that participated in governance voting and the one wallet has overwhelmingly casted 100 votes in the past 180 days. Is this person not leaving any voting proposal alone?
Observations
Based on the on chain data available at Flipside crypto the following observations were made from wallets that preordered Saga phone
- All wallets except one managed to preorder only 1 phone, while the special wallet managed to preorder 5 phones
- Majority of the wallets preordered the phone are retail users who performed less than 1000 USD worth of transactions
- NFT minting is popular with wallets that preordered the phone. 7 wallets has minted more than 1000 NFTs in the past 180 days.
- Saga Phone preordered wallets are not actively participating in governance proposals. Only 17 of them participated in at least one governance proposal voting