Why Solana Still Matters: A Deep Dive
Recently, a common sentiment echoed within the crypto community is the supposed demise of Solana, especially post its integration with FTX. A significant number of inquiries have come our way, asking, “Why integrate Solana into @loch_chain when it's seemingly 'dead'?”
While I concede that Solana may not be the fabled "Ethereum killer" many prophesied, I'm here to tell you: Solana is far from being irrelevant. Let's dive in.
Solana DeFi: The Bigger Picture
Solana's Total Value Locked (TVL) hit its lowest in December 2023 at $200m. Yet, we're witnessing a rebound, with the current TVL standing at $317m. With daily volumes hovering around $50m and Daily Active Users (DAUs) around 100k, the ecosystem showcases resilience and potential growth.
Liquid Staking Derivatives (LSDs): A Highlight
@jito_labs, boasting a TVL of $35m, stands out with its unique design. It offers:
Higher rewards through MEV capture.
Automatic price rebasing, eliminating the need for manual emission claims and compounding.
A growth rate outpacing competitors like Marinade and Lido.
Money Markets: The New Players
Introducing @marginfi with a TVL of $19m:
Their novel CDP stablecoin, $MUSD, is backed by $jitoSOL.
It’s a genuinely decentralized stablecoin for Solana.
Its growth trajectory surpasses its nearest competitor, Solend.
Dexes: The Game Changers
Here are some platforms making waves:
@JupiterExchange (DEX aggregator)
@PhoenixTrade_ (CLOB OrderBook Exchange)
@cypher_protocol (Offering CEX-like features)
@Kamino_Finance (Mastering Yield Management)
Derivatives: The Future?
@DriftProtocol (with a TVL of $12m) steals the show:
Exceptional UI/UX.
Strategic partnership with Jupiter.
Top-notch Open Interest.
A rapidly growing user base.
A Look at Solana’s Top Holders
FWzn, a prominent holder, boasts an astounding $109m profit in the past year with diverse holdings including $SOL, Stables, $SAMO, $ATLAS, and $KIN.
9QgX, holding $SOL worth $83m, is down by 40%. But the fact that they persistently hold indicates unwavering faith in Solana.
My Personal Opinion on Solana:
Pros:
Unmatched TPS among L1s.
A dedicated community.
Seasoned developers.
An emerging DeFi environment.
Affordable transaction fees.
Cons:
Supply concerns post FTX integration.
Ambiguous long-term token value.
Challenges from the established EVM developer environment.
Developer resources lag behind EVM.
A Philosophical Approach to Solana
Suppose Solana was a mere facade with artificially boosted user statistics. The fascinating part is, in the world of crypto, perception can often dictate reality. As long as the community believes in its potential, the value sustains.
In conclusion, for the skeptics, remember, @loch_chain has seamlessly integrated with @solana. No other platform offers such extensive coverage of CeFi, DeFi, EVM, and non-EVM chains like Loch. Try it out for yourself at app.loch.one.
Why Solana Still Matters: A Deep Dive
Recently, a common sentiment echoed within the crypto community is the supposed demise of Solana, especially post its integration with FTX. A significant number of inquiries have come our way, asking, “Why integrate Solana into @loch_chain when it's seemingly 'dead'?”
While I concede that Solana may not be the fabled "Ethereum killer" many prophesied, I'm here to tell you: Solana is far from being irrelevant. Let's dive in.
Solana DeFi: The Bigger Picture
Solana's Total Value Locked (TVL) hit its lowest in December 2023 at $200m. Yet, we're witnessing a rebound, with the current TVL standing at $317m. With daily volumes hovering around $50m and Daily Active Users (DAUs) around 100k, the ecosystem showcases resilience and potential growth.
Liquid Staking Derivatives (LSDs): A Highlight
@jito_labs, boasting a TVL of $35m, stands out with its unique design. It offers:
Higher rewards through MEV capture.
Automatic price rebasing, eliminating the need for manual emission claims and compounding.
A growth rate outpacing competitors like Marinade and Lido.
Money Markets: The New Players
Introducing @marginfi with a TVL of $19m:
Their novel CDP stablecoin, $MUSD, is backed by $jitoSOL.
It’s a genuinely decentralized stablecoin for Solana.
Its growth trajectory surpasses its nearest competitor, Solend.
Dexes: The Game Changers
Here are some platforms making waves:
@JupiterExchange (DEX aggregator)
@PhoenixTrade_ (CLOB OrderBook Exchange)
@cypher_protocol (Offering CEX-like features)
@Kamino_Finance (Mastering Yield Management)
Derivatives: The Future?
@DriftProtocol (with a TVL of $12m) steals the show:
Exceptional UI/UX.
Strategic partnership with Jupiter.
Top-notch Open Interest.
A rapidly growing user base.
A Look at Solana’s Top Holders
FWzn, a prominent holder, boasts an astounding $109m profit in the past year with diverse holdings including $SOL, Stables, $SAMO, $ATLAS, and $KIN.
9QgX, holding $SOL worth $83m, is down by 40%. But the fact that they persistently hold indicates unwavering faith in Solana.
My Personal Opinion on Solana:
Pros:
Unmatched TPS among L1s.
A dedicated community.
Seasoned developers.
An emerging DeFi environment.
Affordable transaction fees.
Cons:
Supply concerns post FTX integration.
Ambiguous long-term token value.
Challenges from the established EVM developer environment.
Developer resources lag behind EVM.
A Philosophical Approach to Solana
Suppose Solana was a mere facade with artificially boosted user statistics. The fascinating part is, in the world of crypto, perception can often dictate reality. As long as the community believes in its potential, the value sustains.
In conclusion, for the skeptics, remember, @loch_chain has seamlessly integrated with @solana. No other platform offers such extensive coverage of CeFi, DeFi, EVM, and non-EVM chains like Loch. Try it out for yourself at app.loch.one.
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Why Solana Still Matters: A Deep Dive
Aug 14, 2023
Why Solana Still Matters: A Deep Dive
Aug 14, 2023