ADA on SOL

ADA on SOL is a memecoin project named after the late dog of Anatoly Yakovenko, the founder of Solana. It is a community-driven project that revolves around the popular theme of dog-based narratives in cryptocurrency. As the first female dog on Solana, its primary purpose is to support shelter dogs.^[1]^[3]

On February 28, 2024, the ADA community officially assumed ownership by claiming a Community Takeover via the Dexscreener account, marking a new chapter in its evolution. ^[2]

ADA’s story

ADA's story began more than a decade ago when Ada found her forever home with Anatoly Yakovenko and his family after being adopted from a dog shelter. Despite passing away in 2022 following a battle with cancer, her memory continues to inspire all who knew her. Through ADA, her legacy endures, representing resilience, empathy, and community spirit.^[2]

About my dog, Ada. I held her in my arms two years ago, a day before my birthday, as she was put down because her throat cancer got so bad that she couldn’t breathe.

We got her 10 years prior from a shelter. She was a jrt/pit bull mix, exemplifying the best of both breeds. Super smart, loyal, crazy high energy, and super food motivated. We taught her how to ride a scoreboard, but couldn’t get her to stop pushing her leash. She had a punctured ear when we got her because she fought off all the other dogs from the food bowl at the rescue as a 6-month-old puppy.

She was NOT FRIENDLY. All our friends knew to never make eye contact or pet her. She took it upon herself to guard us from all threats, real and perceived.

Still miss her.

RIP Ada, the countess of Lovelace^[4]

Overview

ADA was launched in late 2023 as a memecoin by an anonymous developer known only as @adakovenko on Telegram. The project aimed for big things right from the start. Initially, it was nurtured by a small team led by its mysterious founder and a close circle of confidants. They used the modest valuation of Solana, priced at around $40 per coin, to inject a significant amount of SOL into the liquidity pool. Despite its secretive beginnings, ADA on SOL quickly caught the attention of the cryptocurrency community, thanks to its strong liquidity and promising prospects.^[5]

A key part of ADA on SOL’s early story was its connection to Toly, the CEO and founder of Solana, and his beloved dog, ADA. The inspiration for the coin’s name came from the Countess of Lovelace one of the first software developers. This connection to Toly’s cherished companion helped generate initial interest, riding the wave of popularity enjoyed by dog-themed memecoins on the Solana blockchain.^[1]^[13]

Initially, ADA on SOL seemed to be a huge success, following a similar path to other coins like MYRO. Its market capitalization soared, attracting a diverse range of participants, from passionate supporters to opportunistic traders. However, as the holiday season approached, cracks began to appear in the project’s foundation. Challenges such as the suspension of its Twitter account (Now X) and decreasing developer engagement led to a period of uncertainty and price volatility. Some team members left, and early beneficiaries selling off their holdings worsened the situation, leaving many investors facing losses or holding onto depreciating assets.^[5]

During this tumultuous time, a strong community emerged, forming what would later be known as Team 2 of the ADA on SOL project. This group, made up of both loyal supporters and new believers, set out to revive the struggling project. Through social media outreach, meme campaigns, and grassroots marketing efforts, Team 2 worked to reignite interest and rebuild confidence in ADA on SOL. Their efforts paid off, and ADA on SOL experienced a remarkable resurgence, with its market capitalization climbing back to $13 million. This achievement was a testament to the dedication and creativity of the community members who worked tirelessly to breathe new life into the project.

The Meme Project is dedicated to supporting shelter dogs by raising funds for dog charities, with the first chosen charity being All Dogs Matter in the UK. As part of this initiative, it launched a 100-day Rescue Dog program, which, at the time of writing, is still ongoing.^[6]

Toly's support for the meme project is unmistakable. Not only has he tweeted about the project multiple times, but he also follows Ada on their main Twitter account, underscoring his endorsement of the initiative.^[14]^[15]

ADA's NFT Collection

photo_2024-04-26_23-04-27 (2).jpg The team is gearing up to introduce an NFT collection that will mirror the real-life ADA. These NFTs will be intricately designed to capture the essence and charm of ADA, offering a digital representation of her for fans and collectors alike. Each NFT in the collection will be uniquely crafted, showcasing different facets of ADA's personality and adventures. This collection not only aims to immortalize ADA's memory but also to raise awareness and support for the shelter dogs she represents.^[7]

ADA on SOL Foundation.

The ADA on SOL Foundation is a grassroots effort focused on ensuring the project's long-term success and independence. Led by dedicated community members and supported by committed whales, the foundation set out to redefine ADA on SOL's path forward.

Central to the foundation's approach was the development of a strong infrastructure, including a revamped website and a community donation wallet. These efforts aimed to promote transparency, accountability, and inclusivity within the ADA on SOL community, encouraging members to actively participate in shaping its future.

Additionally, the foundation worked to forge strategic partnerships and expand ADA on SOL's presence on social and trading platforms. Through collaborative efforts and a shared commitment to the project's values, they sought to establish ADA on SOL as a key player in the Solana ecosystem.^[8]^[5]

Tokenomics

ADA has a circulating supply of 1,000,000,000 tokens, with a maximum supply capped at the same amount. Its contract is renounced, and the liquidity pool is locked. Currently, 100% of the coins are in circulation, and the ownership has been revoked, ensuring that no new tokens can be minted. ADA is currently tradable only on decentralized exchanges, including Radium, ORCA, and Jupiter.^[9]^[10]

Technology

ADA is built on the Solana blockchain, a smart contract platform established by Anatoly Yakovenko. Solana distinguishes itself through its innovative transaction verification process, which integrates proof of stake with its distinctive proof of history system.

The ownership structure of $ADA is crafted to emphasize decentralization. It encompasses complete renunciation of ownership and absence of creator and Token Update Authority balances. This approach distinguishes $ADA from other memecoins, alleviating worries about centralization and empowering the community to play a substantial role in influencing its evolution.^[11]