Original author: @sandraaleow
Original compilation: Biteye core contributor Crush
Solana is building momentum with Firedancer upgrades, increasing institutional adoption, state compression technology, independent fee markets, the protocol’s launch of tokens, and more.
Let’s take a closer look at the popular projects in Solana’s current ecosystem that are worth paying attention to.
01 Liquidity Staking
@MarinadeFinance (MNDE)
Marinade Native allows users to easily delegate their staking rights while retaining the right to withdraw funds
MNDE is its governance token and has been issued fairly
@jito_labs (JitoSOL)
Jito is Solana’s first staking product that includes MEV rewards. Users can stake SOL in exchange for the LSD token JitoSOL.
Jito stakes assets by partnering with validator nodes running software designed to improve network performance
Jito’s TVL has now soared to $280 million
Other liquidity staking protocols:
@solblaze_org (BLZE), stake SOL to get bSOL
@marginfi (LST), which has the highest natural return among all LST stakings on Solana
02 DEX
@orca_so
AMM DEX
They developed a CLMM (Centralized Liquidity Market Maker Model) system called Whirlpools, and currently most of the liquidity in the Solana ecosystem has flowed to Orca.
@RaydiumProtocol
One of the earliest DEXs on Solana
@JupiterExchange
Jupiter has attracted 950,000 unique users, $3.5 billion in trading volume, and 100,000 monthly active users
DEX aggregator
Derivatives platform announced during Breakpoint conference
Following $JUP, $SUSD was also announced as a stablecoin for leveraged pledge SOL
03 AI
@nosana_ci
Build a decentralized GPU network
Focus on AI reasoning track
The market capitalization is US$23 million, which is still very early compared to RNDR’s US$600 million.
@rendernetwork
AI x DePIN Narrative
Moving projects from Polygon to Solana
Users can contribute unused GPU computing power for rendering
04 Derivatives/Perpetual Contracts
@DriftProtocol
Drift is the leading perpetual contract exchange on Solana, with a cumulative trading volume of US$1.66 billion, and TVL has grown to US$32.6 million.
Users can pledge assets into the insurance fund, which not only helps ensure the security of the network, but also receives liquidation fees in return.
@ZetaMarkets
Perpetual Contract Exchange
A points system called Z-Score was launched to prepare for subsequent token issuances.
@PhoenixTrade
Order book exchange
Developed by @ellipsis_labs ($3.5M raised so far)
05 Lending/Money Market
@MeteoraAG
Liquidity layer on Solana
Yield aggregator for lending protocols
@marginfi
The second largest lending protocol on Solana
$ 100 M TVL
Points system leading Solana DeFi
Financing $3M
Token has not been launched yet
@solendprotocol
Users can earn interest and lend on 60 assets across 20 pools
@Kamino_Finance
Kamino Lend and Kamino 2.0 are currently in closed beta testing
06 games
@AuroryProject (AURY)
Web3 Game Studio
Well funded, raising $100 million in 2022
@photofinishgame (CROWN)
a horse racing platform
Users can trade, race, and stake horses
07 Data storage
@GenesysGo (SHDW)
Solana version of Filecoin
Its tokens are almost fully allocated
Plans to implement token destruction mechanism
08 Telegram Bot
@FluxBeamDEX (Fluxb)
Solana version of Unibot
Revenue sharing is currently enabled
Robots available
09 Multi-signature
@SquadsProtocol
Squads is built on the Squads Protocol and is the leading multi-signature tool on Solana
A major use case for Squads is program management, Squads helps Solana protocols like Helium, Raydium, Jupiter, Marginfi to seamlessly update their programs
10 NFT Market
@tensor_hq、@MagicEden
Tensor NFT has launched its NFT market and has taken the majority of the NFT market share on Solana.
Tensor and Magic Eden account for almost 90% of the entire Solana NFT trading volume.
11 RWA assets
@Credix_finance
A system that provides credit services to institutions
It has raised $11.25 million so far from investors including ParaFi and Circle Ventures
@Parcl
Real estate transaction agreement (leveraged real estate prices)
Raises $4M from Coinbase Ventures, Solana Ventures, and more
12 DePIN
@helium
Decentralized wireless network supporting hotspots in more than 170 countries
Use Solana’s state compression technology to mint hotspots into NFTs
@Hivemapper
Decentralized network map
@rendernetwork
Combining GPU and AI technology
Focus on rendering motion graphics and visual effects
13 wallet
@xNFT_Backpack
@solflare_wallet
@phantom
@brave
14 Meme Coins
@bonk_inu, the original meme coin on Solana
@MyroSOL
15 data/on-chain
@solanafm
For more project information about the Solana ecosystem, you can refer to thisarticle。
