Solana is a well-known platform in the Web3 and crypto space, with a vast number of projects available on it. The platform has recently gained popularity and profits among investors and developers. Moreover, the projects on the Solana network are gaining benefits.
Furthermore, the platform offers high throughput and low fees for transactions. As per reports, Solana processes about 100 million daily transactions with around 500,000 active wallets and tokens. Now, here are the top Solana projects you must watch in 2024:
Jupiter is a decentralized replacement for centralized exchanges on the Solana network. Besides, Jupiter Swap offers interesting features, such as a DEX aggregator that provides the best price offer to users. Notably, Jupiter has about $400 million of daily trading in crypto assets.
Orca holds the position of the most efficient liquidity decentralized exchange on the Solana network. What’s more, it provides the best user experience and features ‘Whirlpools.’ The community governs the Orca project via the Orca DAO, which functions using the ORCA token and the DAO council.
The project is listed on Kucoin, Gate Exchanges, and Coinbase. It also works on philanthropic projects that focus on the environment.
Drift is another project listed on the Solana blockchain network, a decentralized perpetual trading platform. The traders on Drift can open long or short positions with up to 20 times the leverage.
Additionally, it can deliver a CEX-like experience and utilities such as spot trading and decentralized lending services. According to the project’s statistics, Drift’s smart contracts have almost $120 million worth of crypto assets.
Solend is a money market on the Solana blockchain, which is the easiest to use. The users of Solend can borrow and lend crypto assets on the network. However, the borrowers need collateral to present to the lenders. The platform has over $165 million of crypto assets locked in its smart contracts.
This project allows users to borrow crypto assets against collateral. Marginfi is an overcollateralized money market with over $345 million worth of cryptocurrencies in smart contracts. Besides, it has an automatic liquidation protocol to get rid of the bad loans.
The Solana blockchain has more such projects on its platform. Not to mention, it is growing fast and holds the fifth rank with its various projects.