Pipe Network Launches Firestarter Storage Protocol on Solana

Pipe Network, a decentralized infrastructure project built on the Solana blockchain, has launched its Firestarter Storage protocol, aiming to compete with centralized cloud storage and content delivery networks (CDNs) like Cloudflare’s R2. This innovative protocol utilizes a global network of nodes to deliver content with remarkably low latency, reportedly as low as 5 milliseconds. The internal use of Firestarter Storage for hosting Solana’s Proof-of-History archival datasets and regular network snapshots demonstrates its technical viability and sets the stage for a broader application in decentralized data storage.
Central to the Firestarter Storage model is its native token, $PIPE. Users must burn $PIPE tokens to access the network and earn data credits, creating a unique incentive mechanism that mirrors those found in other decentralized infrastructure projects within the Solana ecosystem, such as Helium and Hivemapper. The pricing for storage in the Firestarter protocol starts at 1 $PIPE per gigabyte, although the timeline for the token genesis event (TGE) has yet to be announced. The $PIPE token will be launched through the Metaplex Genesis protocol, which has been successfully utilized by other projects in the past.
In a significant development, a recent token sale on Coinlist raised $300 million worth of $PIPE, accounting for 3% of the total supply. This sale offered two vesting schedules, with immediate unlocks at a fully diluted valuation (FDV) of $250 million and a one-year vesting option at an FDV of $200 million. As interest in decentralized infrastructure solutions grows, particularly those leveraging the Solana ecosystem, the upcoming public launch of Firestarter Storage could significantly impact the demand for $PIPE among traders and investors. Additionally, Cboe’s new listing requirements for cryptocurrency ETFs may further enhance the regulatory landscape, potentially allowing for a Solana ETF approval as early as September 17, signaling a maturing blockchain service environment.
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