Five Potential Projects in the Solana Ecosystem Worth Following

Recently, the cryptocurrency market has experienced a brief adjustment, but this has also created opportunities for investors to position themselves in undervalued potential projects. As a popular ecosystem in this bull market, the rapid development and capital attraction effect of Solana and TON have drawn the attention of many investors.

Compared to TON, the Solana ecosystem is more mature in development, with significant advantages in innovation capability and large-scale adoption. With the upcoming listing of Ethereum ETFs, an asset management company has also submitted a Solana ETF application to regulators, indicating that traditional capital is beginning to follow Solana. High throughput, low fees, strong security, and an active community make Solana an ideal choice for exchange-traded funds, providing investors with a multifunctional and innovative open-source ecosystem.

The Potential of the Solana Ecosystem

On a technical level, the launch of Solana Blinks and Solana Actions has lowered the barrier for developers to use the Solana blockchain, which is expected to promote the application of Solana in areas such as DeFi, NFTs, gaming, DAO governance, and RWA, and facilitate more Web2 users to seamlessly access Web3 technologies. For Solana ecosystem projects, this also represents an important opportunity to acquire more users.

Worth Following Solana Ecosystem Projects

Drift Protocol

Drift Protocol integrates RWA and DeFi, providing users with a diversified DeFi product experience. The project recently partnered with a financial company to support multiple RWA assets as collateral for traders, making it one of the protocols on the Solana chain with the broadest support for mainstream RWA assets.

Drift Protocol offers a variety of products such as derivatives trading, swaps, leveraged spot trading, and lending, leveraging the advantages of Solana to provide users with low fees and a trading experience similar to centralized exchanges. The project can also quickly respond to ecological hotspots, supporting the listing and trading of new assets.

The locked amount of Drift is ( TVL ), which has grown from 117 million USD to a peak of 385 million USD this year, an increase of 3.3 times. The cumulative trading volume has reached 32 billion USD, with a daily average trading volume of about 220 million USD and active users reaching 190,000.

Jupiter

Jupiter is the largest DEX aggregator on Solana, helping users choose the best trading path by aggregating liquidity from multiple decentralized exchanges. Its daily trading volume once exceeded that of a well-known DEX, becoming the number one across the entire chain.

In addition to the basic Swap function, Jupiter also offers services such as scheduled automatic investments, cross-chain bridges, perpetual contract trading, and a project launch platform. The project conducted a large-scale token airdrop earlier this year and recently provided additional airdrops for users participating in governance.

Kamino

Kamino is an innovative DeFi project that integrates lending, liquidity provision, and leveraged staking features. It utilizes CLMM technology to control the availability of lending funds and provides an automatic deleveraging mechanism and "protected collateral" feature to reduce user risk.

Currently, Kamino is conducting the second phase of its airdrop campaign. Providing stablecoins to the protocol is a sound strategy for participating in the airdrop, where a stablecoin launched by a major payment giant offers up to 18.39% annualized returns and 3x point rewards on Kamino.

As of early July, Kamino's TVL reached $1.06 billion, an increase of 6.5 times compared to the beginning of the year.

Jito

Jito is a liquid staking protocol that allows users to stake SOL and receive JitoSOL tokens. The protocol also provides the maximum extractable value (MEV) feature, and MEV profits will be distributed to JitoSOL holders, enhancing the overall yield.

Currently, Jito's TVL has reached $1.59 billion, a 2.5 times increase since the beginning of the year. The 24-hour protocol fee is $730,000, with a cumulative fee of $150 million, and the number of users has surpassed 100,000.

TipLinks

TipLinks is a lightweight wallet product that functions similarly to the Blinks feature recently launched by Solana. Users can create TipLinks and share them across various platforms for convenient cryptocurrency asset transfers.

TipLinks simplifies the cryptocurrency trading process, allowing operations to be completed with just one commonly used account, and even enabling asset transfers to non-crypto users. This technology breaks down the barriers between Web2 and Web3, providing new users with a seamless crypto payment experience, and is expected to drive mass adoption of Web3.

Summary

Overall, the Drift Protocol stands out in terms of user numbers and protocol revenue, has a wide product coverage, and shows significant integration advantages within the Solana ecosystem, making it likely to stand out in the future development of DeFi.

Jito and Kamino have attracted a large amount of locked funds due to their innovative features and high yields. Jupiter, on the other hand, has achieved a high growth rate thanks to its liquidity aggregation advantages and airdrop expectations.

TipLinks, as an emerging product, provides the possibility for further popularization of cryptocurrency and has great potential, but its security and usability still need to be tested by the market.

Compared to the last bull market, this round has seen the emergence of several rapidly growing popular projects within the Solana ecosystem, covering multiple tracks such as DEX, liquid staking, lending, NFT, and RWA. These projects not only demonstrate strong capital and user attraction but also reflect the innovative potential and growth prospects of the Solana ecosystem. With continuous advancements in technology and applications, the Solana ecosystem is expected to achieve greater development in this bull market.