TOP Solana Ecosystem Projects You NEED To Know in 2024! Promising DeFi projects on Solana

Last updated Feb 15, 2024

00:00 – Introduction
02:22 – COIN №1
04:27 – COIN №2
05:29 – COIN №3
06:13 – COIN №4
07:00 – COIN №5
07:55 – COIN №6
08:50 – COIN №7
09:54 – COIN №8
11:10 – My thoughts

The Solana network and its ecosystem is seeing a new boom!

Thanks to the project’s recovery (price-wise), a significant reduction in network outages (none since February 2023), and an array of positive events around the project in the last quarter of 2023, Solana has become a strong point of attention for cryptocurrency investors and developers. Existing projects within the ecosystem are seeing an increased adoption while new projects are exploring the benefits of deploying on the networks.

Solana offers cheap transactions and faster processing speed relative to many other smart contract blockchains. According to the network explorer, the Solana network processes at least 100 million transactions daily from an average of 600,000 active wallets and tons of decentralized applications and smart contract tokens.

The network has also seen a boom in memecoins, which has contributed significantly to the increased network activities. Other catalysts for this growth in activity include developments from popular projects in the ecosystem like Jupiter exchange, Jito, and Tensorian.

Now, let’s look at some of the biggest and promising DeFi projects on Solana and their key features.

1. Marinade Finance: Staking Optimization Protocol on the Solana Blockchain
1.1 Jito
1.2 Orca
1.3 Raydium
2. Marginfi: Solana-Based Lending Protocol With a Focus on Risk Management
3. Kamino: Liquidity Layer and Lending Protocol on Solana
4. Drift: Trade Perpetuals With up to 20X Leverage
5. Solend: Lend and Borrow Crypto Assets on the Solana Network

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