Microcap Solana NFT Minting App With 10x+ Potential

Sep 10, 2021

Recently, we started digging for lowcap Solana gems and stumbled upon Solminter ($SMRT), a fully working SPL token creation, vesting and distribution app.

Solminter has a fully function app that lets users:

Lock and vest tokens (like Unicrypt or Team.finance)
Send tokens in bulk (like Multisender or Disperse)
Deploy new SPL tokens
NFT minting, distribution and sales (releasing in 2 weeks)

We’re bullish on the Solminter app because the Solana ecosystem is quickly growing, and teams will need simple solutions for these without having to write more code.

As you may already know, Solana contracts are written in the programming language Rust, not Solidity. That’s why development is more difficult on Solana as there aren’t as many Rust developers.

This is also good for Solana because it ensures the quality of projects are typically higher than some other chains. No scammer is going to go through the trouble of learning a new programming language just to deploy a quick rug.

As far as we know, Solminter is the only app that offers these solutions on Solana. Token lockers, bulk senders and token deployment tools are already being heavily used on ETH and other EVM-compatible chains like BSC, Polygon, AVAX, so Solminter already has an optimal product-market-fit.

The project has been live for less than a month, and the app was just released. It’s not listed yet on CoinGecko or CoinMarketCap, so this gem is still very under the radar.

The $SMRT Token

$SMRT is the native token of the Solminter app. Revenue generated from the app goes back towards buying and burning $SMRT. This is a pretty standard token model for projects that generate revenue through usage.

The total supply of $SMRT is 270,000,000. We’re waiting for more details from the team about the exact circulating supply, but we estimate it to be around 58 million $SMRT, making the circulating market cap around $1,600,000 which is tiny compared to everything else in the Solana ecosystem.

$SMRT Chart

Right now $SMRT is in stealth accumulation, nearing the initial listing price in SOL.

We believe there is very little sell pressure in the short term due to the token distribution schedule.

Solminter launched on 8/24/21 at an IDO price of 1 SOL = 11,540 SMRT, which is 0.015 USD at today’s price.

As of this writing $SMRT is trading at $0.022 USD which is only a 46% increase from the IDO price.

If we look at the current price in SOL, IDO presalers are down 31%. They would have made more profit by holding on to their SOL.

That's why the chart tells the story of IDO, seed and presale participants dumping their tokens for the first 10 days of token unlocks. Then, the price bottomed out at ~$0.007 and has been rising steadily since.

According to the token distribution schedule, the next batch of token unlocks won't be until around the beginning of October.

So we expect the price to continue rising until then as there is not much sell pressure.

Upcoming News Catalysts

In two weeks, Solminter will release an NFT minting app that allows anyone to mint, distribute, and sell their own NFTs.

We’re sure we don’t need to go into how bullish NFTs are right now. Here are some stats on the top 5 NFT projects on solanart.io .

Right now, there’s a lot of demand for NFTs (following the ETH hype), but not enough NFT projects on SOL (again, because not as many developers know Rust).

That’s why we think Solminter could be a game changer as it allows anyone to mint, distribute and sell NFTs.

Risks

As with most micro and small cap plays, one risk is trading volume never picks up and the price bleeds downward due to lack of interest.

However, we still feel comfortable taking a small position because we know the odds are in our favor:

More people are now interested in the Solana ecosystem
NFTs on Solana are incredibly bullish
$SMRT token price has already bottomed, is in clear accumulation and there’s minimal sell pressure for another few weeks
The team has already released an app and actively developing a new one (NFT minter) that’s due to launch in 2 weeks
Not yet listed on CG or CMC. We’re not sure how long it will take for them to list but listings are almost guaranteed to bring in a flood of new buyers
Cofounders are doxxed so virtually zero rug risk

With this in mind, we are pretty comfortable making a bet on Solminter.

We feel confident $SMRT could run 5-10x in the short term as long as the market remains bullish (BTC consolidates sideways or continues pumping).

As ways, DYOR and size accordingly.

Disclaimer

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Investment in cryptocurrency involves large risks and you are solely responsible for your investment decisions and should consult a financial professional to assess your own personal and financial situation. DeFi Chads is not a registered investment advisor or an investment company.

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