The recent bad news about cryptocurrency has plunged the market into panic. The implementation of short-term bad news will also be accompanied by the market gaining momentum in the future. For investors, it is a good opportunity to deploy projects with oversold potential now. As two major ecosystems worthy of attention in this bull market, the rapid development and gold-absorbing effects of Solana and TON have made them the focus of many investors.
The Solana ecosystem is more mature than TON, and Solana has advantages that cannot be ignored in terms of innovation capabilities and large-scale adoption. As the Ethereum ETF is approaching listing, VanEck also submitted a Solana ETF application to the SEC in June, and Solana has also begun to attract the attention of traditional capital. As Matthew Sigel, head of digital assets at VanEck, said: The combination of high throughput, low fees, strong security and a strong community atmosphere make Solana an attractive option for exchange-traded funds, providing investors with a Functional and innovative open source ecosystem.
On a technical level, the launch of Solana Blinks and Solana Actions has made developers increasingly interested in Solana. The launch of Solana Actions and Blinks has reduced the number of users using the Solana blockchain in terms of underlying code. The difficulty of the activity. This will also promote Solana to play an important role in a wider range of application scenarios, including DeFi, NFT markets, games, DAO governance, RWA and other tracks, and promote more Web2 users to use Web3 blockchain technology conveniently and quickly. For projects in the Solana ecosystem, this is also an important opportunity to gain more users and adoption.
For investors, laying out the Soalan ecosystem and seizing opportunities under technological innovation and capital deployment have become the next focus. This article will sort out the projects worth paying attention to this year in the Solana ecosystem for your reference.
Drift Protocol integrates RWA and DeFi in the protocol to provide users with diversified DeFi products and experiences. And recently announced an in-depth cooperation with ONDO Finance to allow USDY (notes guaranteed by U.S. Treasury bonds and bank deposits, holders can obtain corresponding returns) and stablecoins such as Ethena-USDe and Mountain-USDM as collateral assets for traders. , is the protocol with the broadest support for mainstream RWA assets on the Solana chain.
Diversified products are one of the advantages of Drift Protocol, including derivatives trading, Swap, leveraged spot, lending, etc. With the help of Solana’s low gas and fast confirmation characteristics, Drift Protocol can provide new products without affecting its own profitability. Users are provided with extremely low handling fees and a trading experience comparable to CEX.
Another core advantage is quick response and support for the ecosystem. Drift provides pre-market trading and fast listing channels. Hot assets in the ecosystem can be quickly listed and traded on Drift, providing investors with more trading strategies and options. It has also recently been announced to support JLP as collateral, which is the first of its kind in the industry.
Drift’s TVL has grown rapidly from US$117M to a maximum of US$385M this year. The increase reached 3.3 times, with the cumulative transaction volume reaching 32 billion U.S. dollars. The transaction volume in the last 24 hours was about 220 million U.S. dollars, and the number of active users reached 190,000.
Jupiter is the largest DEX aggregator on Solana. By aggregating the liquidity of multiple decentralized exchanges, it helps users automatically choose the best trading path and minimizes Swap transaction slippage and transaction fees. Its daily trading volume once surpassed Uniswap and became the first in the entire chain.
DEXs on the Solana chain all have the advantages of being fast, cheap, and permission-free. Jupiter also provides scheduled automated investment, cross-chain bridge, perpetual contract trading, and Launchpad to provide services such as publishing and online trading for projects.
Jupiter team airdropped JUP tokens to 100,000+ community users earlier this year, becoming the largest airdrop event on Solana. Last week another $60 million worth of cryptocurrency was airdropped to users who actively staked JUP and participated in DAO voting.
Kamino is a DeFi project that lends and provides liquidity, while providing users with collateralized lending and controlling the availability of lending funds by using CLMM (Centralized Liquidity Market Maker). It also provides an automatic deleveraging mechanism and a "protected collateral" feature, which protects assets from the risk of borrower default. By integrating lending, liquidity, and leveraged staking into one DeFi product, we provide users with a diverse DeFi experience.
Currently, you can pay attention to Kamino’s second airdrop. Providing stablecoins for the protocol is the most stable strategy. Among them, PYUSD (a stable currency launched by the payment giant PAYPAL) has an annualized income of up to 18.39% on Kamino, and can receive 3 times the Kammino points reward.
As of early July, the TVL on Kamino chain reached 1.06 billion US dollars, an increase of 6.5 times compared to 147M at the beginning of the year.
Jito is a liquidity staking protocol launched in 2022. Users can obtain JitoSOL by staking SOL, and the staking income is also directly accumulated into JitoSOL. Jito also provides users with the maximum extractable value function (MEV). The income from MEV will also be allocated to JitoSOL. Relatively speaking, the income will also increase.
Currently, Jito’s TVL has reached US$1.59 billion, an increase of 2.5 times compared to the beginning of the year. The 24-hour agreement fee is US$730,000, the cumulative fee has reached US$150 million, and the number of users has exceeded 100,000.
TipLinks is a lightweight wallet product whose functions coincide with the Blinks function launched by Solana on June 25. Someone with cryptocurrency can create a TipLink and send the link to anyone via any platform (SMS, discord, email, etc.).
Use TipLinks to handle complex crypto transactions with just a Google account. Clicking on a link makes it easy to send crypto assets, even to non-crypto users. The emergence of TipLinks and Blinks technologies has completely broken down the barriers between Web2 and Web3. It truly seamlessly links Web2 and Web3 together to provide new crypto users with a frictionless crypto payment experience. Provides the foundation for large-scale adoption of Web3.
From the on-chain data, the number of users of Drift Protocol is 1.7 times that of Jito, and it has a high user base. At the same time, the daily income of the protocol is US$162,000, which is higher than Jito’s US$29,000. The project products cover It has a wide range of applications, including lending, spot trading, margin trading, contract trading, etc. in the DeFi track. Drift also has advantages in integrating the Solana ecosystem, which will bring more flexibility to Solana DeFi user assets, thereby further Enhance Drift’s competitiveness.
Jito and Kamino have obtained more than 1 billion US dollars in locked positions and have become projects of financial concern. The main factor is that Jito's MEV has brought additional income to users, and jitoSOL has also become a high-proportion pledge token in the Solana ecosystem. . Kamino has many innovations in lending, and users’ demand for lending has also increased relatively during the bull market.
Jupiter has achieved a high TVL growth rate. On the one hand, it has the advantage of trading quotes brought by its aggregated liquidity, and on the other hand, it is mainly related to its airdrop expectations.
Judging from the current development status, Jito and Jupiter are projects currently attracting the most financial attention on Solana. Drift Protocol has the highest TVL growth rate through increased collateral types, aggregated liquidity, and innovative combination of RWA assets and DeFi. On Solana, the combination of RWA and DeFi will have greater room for imagination in the bull market, while creating more value for users and adding many new features to DeFi. Therefore, Drift Protocol will also be more explosive and have development prospects.
TipLinks provides the possibility for cryptocurrency to further exit the circle and has the potential to explode. It remains to be seen in the future whether it can withstand market testing in terms of security, usability and composability.
Compared with the ecology of the 21-year bull market, a number of fast-growing popular projects have also emerged on Solana in this round of bull market, including DEX, Liquid Staking, Lending, NFT, RWA and other tracks that have also quickly followed up, showing vigorous development situation. Moreover, in addition to Solana’s technological innovation, its ecological projects have also demonstrated relatively strong financial and user attraction, as well as potential innovation capabilities. The TVL growth rate of ecological projects is generally more than 2 times, and users are also Reaching hundreds of thousands, which to a certain extent also demonstrates the innovative potential of DeFi on Solana and its growth prospects in this bull market.
The above is the detailed content of Niuzhong makes in-depth adjustments to take a look at the five potential projects in the Solana ecosystem that deserve attention in the second half.. For more information, please follow other related articles on the PHP Chinese website!
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