What is Solana? — Deep Dive in Solana Ecosystem

What is Solana? — Deep Dive in Solana Ecosystem

Over the years Solana (SOL) has been doing a great job in developing its ecosystem. Moreover, Solana offers a secure, fast, and censorship-resistant blockchain enhancing an open ecosystem needed for global adoption. For this reason, investors are curious to grab Solana tokens. In addition, Solana is one of the widely chosen platforms developing Decentralized Finance (DeFi), Web3, and blockchain gaming which can process about 50,000 transactions per second.

What is Solana?

Solana (SOL) is a digital asset token based on blockchain technology. The platform founded in the year 2017. Solana seeks to offer solutions to the traditional issues which faced by Bitcoin and Ethereum blockchain.

Moreover, the Solana network utilizes proof of history consensus. Notably, this technology enhances the network to develop records. These records can used to track and prove historical events.

Solana tech team, the crew is backed with experienced professionals from top organizations like Apple, Qualcomm, Intel, Google, Microsoft, Twitter, Dropbox, and more. With this, we can say that Solana is really competitive in developing groundbreaking technologies.

Solana Market Status

Solana (SOL) is one of the cryptocurrencies that took the crypto market by storm when it smashed the ATH price of $214.96. Its network’s native token is SOL.  Specifically, this crypto has seen great moves since the early days of the year. In fact, SOL successfully nailed a huge growth rate of over +8,500% in the past 12 months. 

Solana (SOL) Price Chart (Source: TradingView)

Currently, SOL holds the 7th position on CoinMarketCap. The SOL price is trading at $162.67 with a 24-hour trading volume of $4,592,073,834, at the time of writing. SOL can trade on exchanges such as Binance, Coinbase, Huobi Global, and many more.

Solana Ecosystem

Solana (SOL) is one of the digital assets that took the crypto market by storm. Now let us deep dive into the Solana ecosystem.

Solana Ecosystem (Source: Twitter)

1. AMM

Serum developed a decentralized exchange with an on-chain order book. This order book developed using Solana, a fast and cheap blockchain. This new paradigm offered a huge chance to address DeFi’s significant problems.

It creates an AMM that could utilize the current Serum order flow and provide liquidity to the rest of the ecosystem.

Raydium:

It is an AMM and liquidity provider for the Serum Decentralized Exchange based on the Solana blockchain (DEX). In addition to providing on-chain liquidity to a central limit orderbook, Raydium is unique among AMMs.

Orca:

As one of Solana’s first general-purpose AMMs, It allows users to exchange assets, offer liquidity, and earn interest. Orca is Solana’s easiest DEX. It aims to make DeFi accessible to everyone with simple and efficient financial solutions.

Saros Network:

It’s a mineable masternode coin—a fork of Dash. The currency adds anonymity, security, and speed to the network. Using the X11 algorithm, Saros network launches a successful and helpful network for the crypto community.

Saber:

A reliable cross-chain stablecoin on Solana, Saber. To keep liquidity providers capital-efficient, Saber allows minimal slippage trading at significant volumes. Recently, Solana-based Saber raised $7.7M to expand the team and tokens.

Mercurial Finance:

Mercurial vaults provide steady minimum slippage swaps while boosting LP profitability via dynamic fees and allocation of capital.

SenSwap:

SenSwap is a Open Liquidity Protocol for Token Swap on Solana aims to eliminate technological obstacles and make AMM more accessible. The pool is no longer divided into two tokens.

Cyclos:

They may choose the price ranges where their liquidity is active. Larger orders may executed at a better price by establishing the depth of liquidity around the anticipated market price.

HydraSwap:

HydraSwap is an intelligent, multi-module, cross-chain DEX based on the speedy Solana chain. An HMM core, cross-chain technology, and multi-module solid components support it.

2. Orderbook

Serum: The unprecedented speed and cheap transaction costs are brought to decentralized finance via DEX. Serum is Solana-based and is completely permissionless.

Dexlab:

Dexlab has a token minting lab, a launchpad, and a dedicated DEX for all listings, making it easier to launch on Solana. Recently, the price of Dexlab surged, showing a bullish trend. 

SolAPE Finance:

It offers a new perspective on Decentralized Exchanges inside the Solana Ecosystem. SolAPE Decentralized Exchange (DEX) allows new projects inside Solana to list their tokens and trade the biggest market cap coins.

Open Serum: A Solana-based Project Serum DEX. Open Serum is a decentralized exchange with the speed and ease of DeFi while being transparent.

Samoyedcoin:

Samoyedcoin ($SAMO) is Solana’s community-owned meme coin. It seeks to expand Solana’s ecosystem by appealing to users outside its core of high-tech currencies. A fun coin to trade, Solana’s blockchain offers all the benefits (scalability, speed, cheap costs).

Slope Funding:

The slope is a Solana-based decentralized exchange. Slope Dex is a decentralized automated full limit orderbook, the first Serum-based smartphone app. Built for, and hosted by, the community.

Cryptocurrencies.ai:

Aldrin’s goal is to make DeFi simple and create powerful tools for all traders. Aldrin is now Cryptocurrencies.Ai (CCAI) (RIN). Professionals will appreciate the live decentralized exchange and future centralized exchange since it offers pros that utilize unique capabilities.

3. Solana Lending/Borrowing 

The existence of a middleman is one of the main problems with centralized institutions. Aside from needless verification, these numbers frequently cost both parties additional money. DeFi steps in here. Decentralized lending systems provide loans directly to companies or individuals.

Oxygen:

It is a DeFi prime brokerage service powered by Serum’s on-chain infrastructure for the future. Oxygen  is built around Pools or baskets of assets that function together.

Parrot:

Bridging assets from ETH DeFi to Solana imposes an opportunity cost for consumers. The Parrot protocol seeks to utilize collaterals to create synthetic assets as debts.

Solend:

Solend is a decentralized borrowing and lending system based on the Solana blockchain. DeFi can replace the global financial system; however, specific problems exist.

Port Finance:

Port Finance is a lending protocol that seeks to offer variable rate, fixed-rate, and interest rate swaps. The main contributors are a tight-knit group of engineers from Google, Facebook, and Microsoft who worked on Serum and Solana.

Jet Protocol:

Jet is a decentralized borrowing and lending system based on Solana. To add, Jet will provide customers with faster and cheaper transactions.

Acumen:

Based on the Solana blockchain, the Acumen protocol allows open financial apps to determine interest rates algorithmically.

Larix:

Larix is the ultimate loan gateway. The well-constructed interest rate mechanism rewards both borrowers and lenders with Larix tokens.

Ratio Finance:

Ratio Finance allows Solana users to earn interest, take out collateralized loans, and maximize their financial potential, all through a user-friendly interface.

Apricot Finance:

Apricot Finance wants to capitalize on Solana ecology development by creating a unique initiative to become the DeFi industry standard by acting as a decentralized lending system.

Zero Interest:

A fast, secure, and censorship-resistant blockchain, Solana provides access to the open infrastructure needed for the worldwide adoption of ZIP. The Zero Interest Protocol is built on Liquity’s excellent concept for zero-interest loans.

Everlend:

Everlend is a decentralized cross-chain lending system based on Solana. Users may either lend money or give it. They will no longer need to worry about their portfolio, best bargains, and different calculations/scenarios.

4. Derivatives

Mango Markets:

The Mango Markets DEX provides spot and futures trading on-chain. It is also a lending platform, drawing liquidity from its pools and Serum, another Solana-based exchange.

Synthetify:

It is a decentralized system for creating and exchanging synthetic assets. Synthetify is a Solana blockchain-based platform that allows for the production and burning of synthetic assets.

Hedgehog:

In addition to trading on over 130 cryptocurrency exchanges, Hedgehog allows users to monitor their assets and learn about cryptocurrency. It replaces spreadsheets with real-time data from over 130 exchanges and 1000+ coins.

Drift Protocol:

Drift wants to put centralized exchanges’ trader-centric experience on-chain. An expert team from DeFi and traditional finance is working together to make this a reality.

Sypool:

You may create, manage, and trade your portfolio tokens using Sypool’s synthetic asset management system. This is another invention that brought money on-chain.

Digital Asset:

The tokenized eco-system includes digital assets AG. It will deploy its tokenized stock system on the Solana blockchain.

FABRIC:

FABRIC uses the Solana Ecosystem and the Serum DEX GUI to trade FAB. To use any synthetic asset, it must be backed by FABRIC tokens (FAB).

Plutos Network:

Plutos Network, a multi-chain synthetic investment hub built on multi-chain architecture. With Solana, it will be easier to scale its Synthetic Issuance and trading platform.

5. Options

Zeta:

It is the first under-collateralized platform based on DeFi choices allowing users to hedge risk against market movements. Zeta is the first under-collateralized platform based on DeFi choices allowing users to hedge risk against market movements.

PsyOptions:

PsyOptions is a system based on the Solana blockchain in an American style. Flexibility and composability are the concepts that drive the design and development of the core protocol.

UNK Finance:

UNK Finance is a market for on-chain options on Solana. We may establish call contracts backed by Bitcoin and Ethereum and stacked by providers of liquidity.

01:

01 is a decentralized derivative that helps create genuinely autonomous contracts, immediate liquidity, millisecond transaction speeds, and cheap costs across DeFi.

6. Aggregator

SolFarm:

SolFarm is Solana’s first yield aggregation platform with self-assembly vault methods. The Dapp is intended to use Solana’s low-cost, high-efficiency blockchain, enabling vault techniques to compound regularly.

Sunny:

Sunny is a Solana-driven composable DeFi yield aggregator. The Sunny Protocol has been built as a fundamental component with composability, allowing other apps and protocols to make it easier.

SolYard:

SolYard is a new Solana Ecosystem Yield Farming Aggregator. SolYard offers methods to improve your Solana crypto assets.

Francium:

Francium is a unique Solana-built leveraged yield aggregator. It provides consumers with high APY via various community strategies.

OpenOcean:

OpenOcean is the first complete aggregator of DeFi & CeFi. It finds the best price and lowest slip for traders using an advanced routing system that is thoroughly optimized.

1Sol:

1Sol is a decentralized Solana DEX cross-chain aggregator that enables DeFi’s most smooth, efficient, and secured activities. With DeFi’s fast-growing infrastructures, highly demanded aggregators, and future cross-chain transactions, 1Sol created in Solana.

DAGG Trade:

DAGG Trade offers the finest protocol for the DEX aggregator, built for the Solana blockchain. These are Solana liquidity aggregators, which aggregate the exchange rates of several DEX platforms (Serum, Orca, and forthcoming Sushi).

Apollo:

Apollo seeks to combine the desire to make Terra’s yield stronger. Initial UI images indicate that vaults will be available with UST and ANC, MIR, and mAssets, but it appears evident that this is just the start of the Apollo team.

7. Asset Management

Solrise:

Solrise Finance is a Solana-built decentralized and non-custodial asset management platform. It enables anyone to establish or invest in a $20 fund.

Symmetry:

Symmetry facilitates the creation and investment of bespoke crypto indexes. Users may build their index using Symmetry or buy an index produced by someone else.

Step Finance:

Step Finance is Solana’s front page. Visualize, analyze, execute and combine transactions in one location across all Solana contracts.

Stacked:

Stacked Crypto is the investing platform for cryptocurrencies. Manage your assets and invest in pre-developed portfolios and strategies of top hedge funds and traders immediately.

Laguna Finance:

It offers customers access from a single platform to the finest investment possibilities in the Solana ecosystem. Laguna Finance develop, combine and capitalize on DeFi’s unique composability to provide the consumers the greatest yield possibilities.

8. Launchpad

AcceleRaytor:

AcceleRaytor Is a Raydium effort to expand the Solana Ecosystem. It will allow Solana initiatives to obtain funding and initial liquidity in a decentralized and interoperable way. Initially, each AcceleRaytor launch project will include two kinds of pools: Community Pools and RAY Pools.

Solstarter:

Solstarter is Solana’s initial IDO platform. It enables launchpad projects to increase liquidity and in a decentralized manner fairly. Solstarter ensures fair distribution and is entirely decentralized. Solstarter determines guaranteed allocations for each pool member depending on tiers.

Solanium:

In addition to the launchpad, the platform features DEX UI and staking. Solanium adds inline wallet administration to any linked wallet.

The platform allows users to see token balances, send and receive tokens, and manage token accounts. xSLIM may be obtained by staking SLIM tokens.

Solpad:

It is Solana’s first Multichain IDO platform. It provides a decentralized platform for initiatives to raise funds. Solpad is based on Solana, but its reach extends to other blockchain ecosystems.

 Incubated projects on SolPad will automatically list on SolSwap. It was designed to link Solana and other blockchains.

Solster:

Solster Finance is a decentralized financial ecosystem that assists investors. A platform with guaranteed participant token distribution. It is an ecosystem to help diversify investors’ decentralized funds (DeFi).

Boca Chica:

HAPI’s Boca Chica is a cutting-edge IDO platform on Solana. The HAPI team recognizes the value of Solana’s blockchain and its potential to become the most important blockchain network.

Because of the close relationship with Solana, Boca Chica token may only be purchased through the Solana Staking Reward system.

OxBull:

OxBull is a new Blockchain startup incubator based on Binance Smart Chain. Moreover, OxBull wants to offer the advantages of blockchain to the broader community by facilitating access to blockchain enthusiasts.

Solcubator:

With the Solcubator community’s help, projects may raise funds in a safe and decentralized manner while investors can navigate the chaotic terrain to enjoy the rewards of a developing ecosystem.

9. GUI

Bonfida:

Bonfida connects Serum, Solana, and the user. With Solana Data analytics, it is the flagship Serum GUI. Bonfida API has witnessed a 25% increase in queries from major market makers in the last week.

It aspires to be a single data truth source in the cryptocurrency sector. Bonfida additionally handles a range of data aggregation and visualization.

10. Gaming/NFT

Non-Fungible Token is the recent trend in the digital world and has set a great impression for the gaming industry. This impeccable technology has the potential to strike the attention of internet users globally. It is capable of converting video gaming into NFTs using the concept of metaverse.

Significantly, Solana has many projects on the list to build virtual gaming experience for the users. One such project is ATLAS which is paving the way for the future generation of gaming platforms. The world is about to witness the evolution of technology into the gaming industry in the near future.

Star Atlas is a blockchain-based, space-themed video game which is built in the Solana blockchain. It is the next generation gaming metaverse where users can play, create and learn with other players globally. Moreover, Players on the Star Atlas metaverse can trade, obtain and create NFTs .

ATLAS is set to be the platform’s native token which will be empowering the economy of the entire metaverse. Whereas, POLIS is the governance token in the Star Atlas metaverse. Thus it will allow the POLIS holders to influence the decision-making of the development team.

Another project from Solana is OpenEra. OpenEra is a MMORPG which is built on the Solana blockchain and powered by Serum. The story behind OpenEra is to create a virtual place where players live, create and explore. Aurory is another gaming project which is powered by Solana and Serum. This platform operates with the concept of “Play-to-Earn”. Aurory allows players to earn while they play and the platform wants the gamers to know the blockchain uses in entertaining and educating perspect.

Next project is DeFi Land which is a web-game invented to gamify decentralized finance (DeFi). The major goal is to interact with DeFi via gaming experience.  COPE is next on the list which is minted on the Solana blockchain and most of its supply will be available in Solana. Then followed by All Art created by the team VR-All-Art, which is the protocol that provides constant liquidity of NFTs. All Art allows NFTs to be traded indefinitely, just like other crypto tokens, with constant liquidity provided by a new type of AMM liquidity pool.

Then comes Metaplex on the list which is built on Solana Blockchain. Besides it is for creating and minting NFTs in a way via wallets and apps. The other project Degenerate Ape academy is a collection of NFTs which is running on the Solana blockchain network. Degenerate Ape platform allows participants to exchange digital artwork collectibles. Through the sale of Degenerate Ape, Solana entered the million-dollar NFT club

Significantly, Solana is a part of the growing NFT ecosystem in the market. One such NFT is Kaiju Cards which is a NFT game built on the Solana network. Kaiju Cards provides dynamic NFTs and an environment for players to use it. The platform marches towards the growing next generation NFT technology related to games.

As a matter of fact, there are numerous NFT marketplace where users can trade, buy and sell NFTs. Likewise, Solana’s Sollectify is a creator-centric NFT marketplace where users can buy, sell, and trade NFTs in the platform. Another NFT marketplace is Solanart which is the first NFT marketplace on Solana. Solanart platform allows users to access different digital collectibles and explore them. Then comes Solsea which is an open NFT marketplace on Solana. Solsea enables creators to choose and embed licenses in NFTs.

11. Social Platforms

The first application on the list is MAPS, it is the world’s leading offline navigation app with 100 million users globally. Maps are a great companion for travellers as well as it is a wallet where users can exchange money with no hidden fees.

The next platform is Media Network which is a new protocol that avoids the centralized approach of traditional CDN providers. Media Network is a peer-to-peer content delivery network that is a highly scalable and community-governed CDN. Then comes the music streaming platform “AUDIUS”. It is one of the well-known platforms in the crypto market from the Solana foundation. Audius is a high-quality music streaming application where content creators can upload their tracks and share the music globally.

Followed by Only1, which is a NFT-powered social engagement platform developed on Solana. Only1 platform enables users to buy and sell NFTs from any favourite creators. Moreover, the next app on the list is GRAPE protocol. It is a protocol for creating token-based membership communities on Solana. $GRAPE uses the power of Solana to create, reward, and secure online communities.

The most comfortable platform for messaging is Satellite.im. It is a messaging app with end-to-end encryption built on Solana and IPFS. Satellite.im uses serverless technology without sacrificing quality. Followed by an online dating app ‘SolDate’ which is also built on Solana. SolDate is a secure platform which enables users to search for a partner and its native token is $DATE. $DATE will enable users to explore blockchain in a simple and fun way.

However, Solana has many platforms which ensures security and protection. It is created with a mission of providing easy access to their users and reaching millions of users globally. Solana has developed applications for all kinds of usage digitally. 

12. Oracle

Oracles are a major component of DeFi infrastructure that allows smart contracts to mingle with the real world. Many solutions have focused on financial and time series data instead of generalizing to all types of data. Solana blockchain contains two oracle Pyth networks and Switchboard

Pyth Network:

The Pyth Network is a decentralized data oracle that launched on the Solana blockchain. It is an oracle that builds a bridge between a blockchain and real-world data. The Pyth network will support DeFi projects on the chain. Pyth will gather data from conventional markets as well as for cryptocurrencies and crypto assets, and aggregating the data on the blockchain which will utilized for other crypto projects such as smart contracts.

Accordingly, the data provided by Pyth will be more accurate. Therefore, the price will be updated on Solana every 400 milliseconds, this very quicker compared with Ethereum oracle which updates prices on the network only every 10-15 seconds.

More so, the Pyth network will connect high-fidelity, time-sensitive, real-world data with deFi applications, and this will play a major role in the industry’s evolution.

Switchboard:

Switchboard is building a platform that curates the oracle ecosystem on Solana. The main goal of Switchboard is to provide censorship-resistant access to all forms of data on-chain. Switchboard creates a market of curators incentivized to organize different and unique off-chain data sources and publishers to decentralize quantitative data feeds.

Switchboard provides a much broader set of data providers and customers to choose what they would like to see on-chain. Solana will become one of the quality destinations for developers building high performance

13. Bridge

Solana has disclosed cross-chain bridges such as Allbridge, Swim protocol, Wormhole, Synapse protocol that will allow users to transfer assets easily.

Allbridge:

Allbridge is a decentralized, modular, and expanding token bridge with on-chain consensus. It is the easiest and modern way to transfer assets between networks. The most important aim of Allbridge is to expand the blockchain world and provide a tool to freely move assets between networks.

Allbridge is going to bridge the Impossible Finance (IF) token from Binance Smart Chain (BSC) to Solana, adding it to the borderless list of the supported token.

Swim Protocol:

Swim protocol neglects the need for wrapped assets on one chain to a native asset on any other supported chain. This is done combining the ideas produced by existing stable asset AMMs with Wormhole’s bridging technology.

The Swim protocol aims to create a fast, flawless experience that links between smart contract chains, also creating a network of native asset pools on multiple chains through which users can swap flawlessly from one chain to another without using wrapped assets.

Wormhole:

Solana introduced Wormhole, a secure and decentralized bridge that connects Ethereum to Solana. Wormhole allows surviving projects to move tokenized assets flawlessly and trustlessly across blockchains to benefit from Solana’s high speed and low cost. A wormhole opens a quicker way for non-native belongings to enter Solana’s decentralized finance (DeFi) ecosystem.

Synapse Protocol:

14. Staking Pool

A staking pool enables multiple stakeholders to combine their computer resources to improve their chances for reward. In other words, they join forces in the testing and validation of new blocks, so they are more likely to earn a reward for the block.

Marinade.finance:

Marinade.finance is a liquid staking protocol which is developed on Solana. Marinade provides users with the easiest way to stake their tokens. Users can stake SOL tokens using automated staking strategies without lockup period. Thus the platform allows users to enjoy automatic compounded rewards. Consequently, the other staking pool is Socean. 

Socean:

Socean is a 100% transparent, algorithmic, and decentralized stake pool for Solana blockchain. Moreover, the Socean stake pool offers SOL holders the opportunity to participate in DeFi and earn rewards.

Socean is fully transparent is developed with a real-time dashboard. Users can monitor where their stake $SOL is going or can identify with whom they stake. Furthermore, this staking pool is fair and decentralized with a strong staking strategy.

15. Wallet Extension

The primary use of crypto wallet is friendly-access. It is an application that stores our tokens and users can send or receive and can track ownership of cryptocurrencies. The wallet has navigation where users have easy access to trade or store digital-assets. Wallets offer different solutions and approaches to transact or interact with the tokens. It works in an encrypted method where users can use a wallet to transact or receive addresses in a secured way. Solana supports a wide range of wallets, allowing you to strike the balance of safety and reliability.

Wallet extensions offer users easy access to the wallet via browser with wallet information. 

Coin98:

Coin98 is a  non-custodial crypto wallet which supports the Solana Network’s SOL and SPL tokens. Moreover, the wallet offers payment gateway features to its users. Significantly, the next wallet on the list is Phantom. 

Phantom:

It is a friendly digital wallet developed on Solana for DeFi and NFT. This platform offers easy access for users where they can store, receive, collect, send, and swap tokens on Solana Blockchain. Phantom enables users to interact with blockchain-applications directly from web browsers. Moreover, it is a non-custodial wallet and the platform focuses on sending and receiving NFT collectibles in a secure way. 

Sollet:

Sollet, a web-based crypto wallet that allows users to manage digital assets on the Solana blockchain in a secure manner. It is an open-source wallet for users and developers where they can send and receive SOL and SPL tokens. The other multi-chain wallet on the Solana blockchain is Math wallet. Even more, it is a multi-chain and cross-chain assets hub that supports more than 60 blockchains. 

Math wallet:

Math wallet offers Math DApp Store, MathStaking, Math Custody, Math NFT, Math Chain, Math Hub, Math DEX, Math ID, and Math Pay. Furthermore, this app is available in both Apple Store and Android Play Store, so users can download the app to interact with the Solana network.

Solong wallet:

Solong wallet is a one place wallet where users can manage all your Solana assets. Thus users can send, receive and interact with SOL tokens. However, wallets are a key component to manage collection of tokens in a user-friendly way.

16. Tools

Sonar:

Sonar is employed to trace Yield Farming and Liquidity Pool performance on the Solana platform. In addition, Sonar dashboard will survey the Solana blockchain and shows collection statistics from the Serum or Orca or Radiyum pools and Radiyum farms.

Apeboard:

A cross-chain DeFi dashboard, Apeboard, is used to observe the portfolio balances over DeFi protocols. Moreso, Apeboard also supports various protocols on Solana.

Serum Pulse:

Serum Pulse is the top analytics platform and inbuilt dashboard for market and staking the data for Serum and Solana platform

SolanaProject:

SolanaProject is a weighted index that traces the performance of decentralized financial (DeFi) assets over the market. It will display all projects that build on Solana

Solscan:

Solscan is the user-friendly scanning tool that is available on Solana Ecosystem. More so, Solscan is utilized to look for the entire transaction history which includes the transfer of tokens and the performance of the contract.

Synchrony:

Synchrony brings the best tools together and performs the traditional and decentralized finance space into a solution. Moreover, Solana is the most scalable blockchain so synchrony builds on Solana.

Neon Labs:

A blockchain software company, Neon Labs is utilized to make it easier to port Ethereum applications to the Solana blockchain. Therefore the Ethereum developers will soon be able to deploy their applications to Solana.

LIQ Protocol:

LIQ Protocol is a decentralized liquidation engine that built for Serum decentralized exchange (DEX) margin markets on the Solana platform.  It will enable liquidity through its engine to manage liquidation for Solana-based borrowing projects.

Solanatip:

Solanatip is a Google extension that utilizes sollet.io and encourages users to provide a small number of cryptocurrencies to tweets. Furthermore, it will enable users to give and receive tips on Twitter, all the credits will go to the Solana blockchain and its Name Service

MetaSol:

Metasol, a meta transaction protocol that encourages users to transfer Solana Program Library (SPL) tokens without holding Solana (SOL) on Solana blockchain.`

P2P Validator:

P2P Validator offers secure staking, so it will allow the investors to compound their cryptocurrency investment.

QuickNode:

QuickNode is a Web3 developer platform that will guide the user to build and operate blockchain-powered applications (dApps).

Bitquery.io:

Bitquery is a collection of software products that store, parse and index blockchain data in a unified way. Bitquery offers APIs, Dashboard Analytics, Explorers, and widgets.

GenesysGO:

Blockchain Service Provider GenesysGO provides robust and secure infrastructure, to facilitate blockchain developers and operators the performance they need

Boring protocol:

A decentralized Virtual Private Network (VPN) that builds on Solana is Boring Protocol. It provides an economic incentive for node providers with transparent programs to secure network users

17. Others

HXRO:

A cryptocurrency platform that provides perpetual, time-based digital derivatives markets is Hxro. More so, it provides an easy and simple way to interact with the crypto market and traders get an alternate way to express a view on price, hedge risk, and trade digital assets.

Burnt Finance:

Burnt Finance is developed to prove that physical artwork values can channeled into an NFT. Even more, it is a decentralized auction protocol powers the Solana blockchain but created on the injective protocol

Steaking:

Steaking makes staking simple, easy, and secure. It allows users to stake Solana more easily and simply.

Solstake:

Solstake makes staking on Solana easier. Users can stake SOL, manage accounts and earn rewards just in a single app.

Rope Official:

ROPE is a next-generation, full-scale decentralized ecosystem that brings the famous and well-known market volatility index to the crypto market.

Lava Cash:

A decentralized privacy preservation protocol built for the Solana blockchain is Lava Cash. It was the first privacy-preserving smart contract on Solana.

Solar system:

The solar system is the one-stop platform for discovering projects, maintaining track of news, and buying merchandise on the Solana Ecosystem.

Solana.bet:

Solana. bet is a decentralized sportsbook settlement on Solana

Fluidity:

Fluidity allows assets based on Solana to convert into a Fluid version. It is a Solana grant recipient and it will launch on Solana and Integrate Defi protocols that are based on Solana.

SolLotto:

The first decentralized pooled giveaway platform built on Solana is SolLotto. It plans to operate several pooled giveaways compatible with several SPL tokens, providing the convenience of entry to members of the Solana network.

Summary

Solana has a fantastic ecosystem which indicates the growth of the platform. Solana is normally called the ‘Ethereum Killer’. 

Moreover, adoption is one of the big challenges for Solana’s long-term prospects. Furthermore, the growing adoption of the crypto industry continues to increase, there will be enough space for digital assets such as Solana, Ethereum, and others. 

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.