In brief
- The new Ledger Flex Solana Edition offers the same technical features as the standard version but comes in custom blue and green colors.
- It includes a non-transferable Soulbound Token (SBT) for community members.
- The device launches in four phases, with early access for existing Solana SBT holders receiving up to $70 in SOL rebates.
Ledger, one of the world’s most popular hardware wallet makers, has launched a new iteration of its Flex flagship device, custom-tailored to the Solana community.
The Ledger Flex Solana Edition offers the exact same technical functionality as the off-the-rack Ledger Flex, released in July 2024. This includes an additional layer of safety for users’ crypto in the form of a self-custody “cold wallet” that isn’t connected to the internet, but also includes additional features such as an E Ink touchscreen, Bluetooth and NFC connectivity, and its own operating system, Ledger OS.
But where the device really adds value is in terms of engaging Solana’s growing userbase, Ian Rogers, Chief Experience Officer of Ledger, told Decrypt.
“This is one of those things where it’s really community-focused. It’s a way for you to say, hey, I’m a member of the Ledger Solana community.”
Not only will buyers receive a custom Solana-themed colorway in their new wallet, in blue and green, but they will receive what’s called a Soulbound Token (SBT).
These SBTs are unique as they are non-transferable tokens that cannot be given to other parties or financialized after being minted. They were co-dreamt up by ETH founder Vitalik Buterin in a 2022 whitepaper, and were meant to represent “commitments, credentials, and affiliations” that make up the social relations in the Web3 world.
“The Solana Soulbound Token shows that you are a Solana Flex holder—and that really also signifies that you’re an early adopter,” said Rogers.
Owners of these SBT tokens will receive airdrops of rewards in the future. Unfortunately, Rogers didn’t mention what these rewards could be, saying they will happen “organically.”
The new device will launch in four phases. The first phase, which will come with a $70 Solana rebate and black magnetic folio, is only available to those who already owned Solana-based Soulbound tokens—for example, Solana Saga and Solana Seeker Genesis Token holders, Solana Mobile preorder token holders, and Superteam Members SBT holders.
The next allocation of devices will include the magnetic folio and a $50 voucher in SOL, and the third allocation will be available to purchase by anyone who holds SOL in Ledger Live, and will include the magnetic folio and just $20 in SOL.
After initial allocations have been sold, it will be available on Ledger.com as a general release, and all orders will still include an SBT.
More hardware takes aim at the Solana community
The new hardware wallet isn’t the only device aimed at using unique tokens to incentivise engagement from Solana’s community.
The second-generation Solana mobile phone, the Solana Seeker, is set to begin shipping worldwide on August 4, courtesy of Solana Mobile. Like it’s predecessor, the Solana Saga, every Seeker phone will ship with what it calls a Genesis NFT, another soulbound token forever bound to it’s owner’s wallet.
Soulbound token owners have received some pretty hefty financial rewards in the past, if indirectly.
When the Solana Saga was released in December 2022, token holders were airdropped around $300 worth of memecoin BONK—which later exploded in value before before a major sellout, creating major paper returns.
Edited by Stacy Elliott.
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