Pacmoon Chooses Solana Over Blast
Pacmoon’s marketing strategist, Lamboland, confirmed the news: “Building on Blast has always been a struggle.” He criticized Blast for failing to understand what makes a blockchain successful.
“They [Blast] created a system where native tokens on Blast are actively disadvantaged, and they provided zero social support,” Lamboland explained.
With this migration, the project will keep its team and community but introduce a new meme, ticker, blockchain, and tokenomics. Lamboland urged all PAC holders to burn their tokens, promising compensation on Solana as the project transitions.
“We will airdrop ARMY tokens on Solana based on how much PAC you burn. ARMY is our second project, but we’re bringing the PAC community with us,” the marketer added. Pacmoon originally launched on Blast as a community coin that thrived on the community’s creativity with strategic incentives. It quickly became a prominent part of Blast’s culture, reflecting innovation in the crypto space by introducing fresh approaches every season.
“Our marketing strategy revolves around incentives. We believe incentives drive results in the crypto space, and Blast offered the strongest incentives of all blockchains,” Lamboland stated in a recent interview.
Several projects have integrated the PAC ecosystem, soon to be renamed ARMY, into the Solana blockchain. Nick Ducoff, Head of Institutional Growth at the Solana Foundation, praised Solana as the better choice for the ecosystem. The ARMY airdrop is scheduled for August 15, with PAC holders having until August 14 to burn their tokens and remove their liquidity pools.
Blast is an Ethereum Layer-2 (L2) scaling solution that utilizes optimistic rollup technology to enable fast and low-cost transactions while maintaining the security of the Ethereum mainnet. It also offers native yield opportunities for passive income for ETH and stablecoin holders.
Since Thursday's announcement, Blast’s total value locked (TVL) has increased by $52.92 million. However, this capital could decrease as the August 15 deadline approaches.
The Appeal of Solana Over Ethereum
Pacmoon’s preference for Solana reignites the longstanding debate between Solana and Ethereum. Factors like efficiency, development, and scalability have been discussed at length. In December, however, Solana co-founder Anatoly Yakovenko dismissed the narrative that Solana is an “Ethereum killer.” He stated that it’s natural for the two technologies to have overlapping functions and to compete.
“Let’s not bring back the old ‘Eth-killer’ nonsense. It’s silly. Pareto-efficient technologies can have overlapping functions and will compete, but that’s all fine. I don’t see a future where Solana thrives and somehow ETH dies. I’m such a techno-optimist that I’m sure Danksharding will eventually provide enough bandwidth for all of Solana’s data,” Yakovenko wrote.
Investors have also questioned the similarity between Ethereum’s and Solana’s decentralization features. The point of contention is that the Solana Foundation and related entities own 20 percent of the SOL supply, 100 percent more than what the Ethereum Foundation holds in the Ether supply.
“With the Solana Foundation and related entities still holding 20 percent of the SOL supply, I wouldn’t call it decentralized. By comparison, the Ethereum Foundation holds about 0.2 percent of the ETH supply,” wrote Steve Dakh, CTO and founding member of Ethereum.
Both blockchains present strong arguments, ultimately coming down to preference as both already serve as hubs for significant projects.
