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。