Can $SEND in Solana Blink Match the Success of $DEGEN in Farcaster?

Written by TechFlow

Two weeks ago, Solana's Blink became a hot topic.

We previously covered this in "Unpacking Solana Blink: One-Click Integration of On-Chain Actions with Social Media—Is Going Social the Endgame?":

Blink enables the embedding of on-chain functions directly on Twitter, allowing users to complete various blockchain actions such as swaps, mints, and donations with just a click on a tweet.

However, at the time, Blink was only demonstrating its potential capabilities—what it could do, rather than how to do it, leaving the specifics up to the community and developers to explore.

Therefore, it’s important to focus on new projects that are being built around Blink.

Quick off the mark, an account named SEND (@thesendcoin) appeared to be fully prepared, vividly and accurately showcasing over 50 use cases for Blink right out of the gate.

I hadn't even started looking into it, and yet you already had a whole list of detailed use cases ready to go?

What's even more intriguing is that Blink officially launched on the 25th, but SEND's official account started dropping hints on the 24th about "big moves coming to Solana this week, don’t blink, send it." It's almost as if they were writing on their foreheads that they knew about Blink ahead of time.

Another noteworthy point is that Solana’s founder, Toly, has pinned a tweet from the SEND team showcasing another 100 use cases for Blink, clearly supporting the project. With SEND’s seemingly prescient tweets, it’s hard not to wonder if there's some official backing behind them.

Do you think this is all just about the tech? There’s also a degen element here that’s catching attention.

You might not be aware, but a week ago, SEND rolled out a feature that allows users to mint NFTs directly via a Twitter button, with these NFT holders gaining rights to future $SEND token airdrops.

Right from the start, the SEND project has been upfront: $SEND is designed to be a community token that bolsters the Solana Blink ecosystem.

Remember how Warpcast didn’t have its own token, yet it gave rise to community meme coins like DEGEN?

Consider Farcaster, which introduced the $DEGEN through its CAST feature. Could we see a similar pattern with Blink functionality leading to $SEND?

100,000 NFTs, Gone in A FOMO Frenzy

SEND isn’t just supporting the Blink ecosystem—it’s also setting a precedent and fueling a speculative FOMO.

On July 3rd, SEND announced on platform X the launch of 100,000 "Send It" series NFTs. With Blink’s functionality, users can simply hit the Collect button on the X page to mint these NFTs.

With the “Allow on X.com to use ACTION” feature in the Phantom wallet (supporting the Blink technology framework), you can easily mint this NFT directly.

Furthermore, SEND has announced that each NFT holder will have a chance to win a lottery prize of 6.9 SOL, and they will also be eligible for additional airdrop rewards that haven’t been disclosed yet.

Considering that SEND also has its own "community coin $SEND," it's quite possible that these yet-to-be-revealed airdrops could specifically involve the $SEND tokens themselves.

The stacking of several enticing elements naturally heightened the FOMO, leading to the rapid sell-out of the "Send it" NFTs. At the time of writing, this series has a floor price of about 0.42 SOL on Tensor.

Clearly, the SEND team knows how to create a buzz. Once all the NFTs were minted, they quickly posted a link equipped with Blink functionality, signaling that while minting was no longer an option, trading was still on the table. This allowed users to directly purchase the NFT with just one click.

At this stage, the "Send it" campaign is heavily speculative, seemingly aiming to shoot the NFT's floor price through the roof.

With a strong technological foundation, compelling use cases, and a knack for engagement, SEND, which revolves around Blink, does indeed remind one of the excitement around Warpcaster when meme coins like DEGEN burst onto the scene.

From the Community, For the Community

As of now, the SEND website is fairly simplistic and doesn't divulge much about the token's specifics or the entities behind the project.

From what can be gleaned about the project’s purpose and the showcased use cases, it seems primarily geared towards supporting the ecosystem that Blink could potentially build and the developers within it.

In the comprehensive list of over 100 Blink use cases mentioned at the start of this article, SEND explicitly encourages other developers to craft similar or even more extensive use cases and actively seeks collaboration with them.

Essentially, this means that SEND is not only capable of prototyping, but it's also actively seeking collaboration with more developers to bolster the Blink ecosystem.

Those well-versed in the crypto sphere understand that merely having great technology and determination isn't enough to stand out amid fleeting and scarce attention. It’s essential for any endeavor to leave space for speculation about the potential of its associated token.

SEND clearly embraces this approach. It isn't just about altruistically developing technology and supporting the ecosystem; it also has its own token, $SEND, which is already woven into the fabric of the community.

While no official details about partnership models have been released, it’s tempting to speculate. Might the projects that collaborate with SEND to develop Blink use cases receive $SEND tokens as rewards?

And might users who engage with these use cases also be rewarded with $SEND tokens?

This method mirrors the emergence of tokens like DEGEN/CAST in Farcaster or Warpcaster, where all tokens serve as a reward for early builders and participants in the ecosystem.

However, unlike DEGEN and other meme coins, which grow through user-driven activities, SEND seems to be powering both ends—rewarding both the developers who build Blink use cases and the users who engage with them.

From the community, for the community.

People aren’t inherently opposed to the creation of new tokens; they're opposed to not benefiting from such creations.

Leveraging this sentiment, SEND's strategy is likely to succeed and could generate a network effect as more people use Blink and share their experiences with airdrops.

However, with examples like Farcaster's peak daily active users and TON’s ecosystem quickly gaining a million followers, it’s challenging to predict who will be a fleeting trend and who will endure.

But one thing we do know:

Whoever wins over the community secures both liquidity and attention.

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