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Squads Protocol v5 development work started, and it is planned to be launched on Solana mainnet within this year
2024-09-22 05:58:16
Odaily News According to official news, Solana Ecosystem Multi-Signature Protocol Squads recently announced the official start of development of Squads Protocol v5, the next generation version of SVM smart accounts, designed to accelerate the adoption of smart accounts and account abstractions on Solana and SVM. In 2025, the activation of Solana runtime features will increase CPI limits, making smart accounts a focus of attention on the Solana chain. To meet this shift, Squads is designing Squads v5 to enable developers to build wallets, DeFi applications, and payment solutions that provide seamless login, strong security, and an intuitive user experience. Squads v5 will introduce several breakthrough features that will give users fine-grained control over their smart accounts: -Hooks; -Synchronous transaction execution; -New permissions and key layer adaptive time locks; -Performance and memory improvements. Squads Protocol v5 will be formally verified and will be launched on the Solana mainnet later this year. Earlier in June, Squads Labs, the developer of the Solana ecosystem multi-signature protocol Squads, announced the completion of a US$10 million Series A financing round, led by Electric Capital, with participation from Coinbase Ventures, Placeholder VC, RockawayX, L1 Digital and Helius co-founder and CEO, and Odyssey Ventures founder Mert Mumtaz.