When Ethereum started hosting other projects, investors rushed in and started buying left and right all projects that run on that blockchain. Not only were smart-contracts a revolutionary concept, but also a tempting investment. Today, Solana stands as a new contender in the crypto market. Its ecosystem hosts promising projects that can yield high returns in the medium run. What are the Top 5 projects using Solana?
What is Solana Blockchain?
Solana claims to be “Proof-of-History”, rather than requiring validators to set transaction timings, it is a unique version of consensus that establishes the relative order of transactions. This approach remains secure but allows greater flexibility for developers and validators.
The advantage Solana has over other protocols is that it allows the blockchain to operate efficiently regardless of network activity. In addition, Solana uses Cloudbreak, a distributed log that prevents transaction history from taking up too much computer space.
Top 5 Projects using Solana
5- Kermit Finance
Kermit Finance is a decentralized peer-to-peer protocol that simplifies the interaction between users and blockchains. In the world of DeFi, where finance and money do not rely on a central intermediary like exchanges, it is important for users to have an experience where they can have seamless control of their money and assets. Kermit is built on Serum, the flagship DEX on Solana to provide the users and artists with the best trading experience that allows them to trade their favorite token/NFT in an uncomplicated way.
Their native token KERMIT has a supply of 10,000,000 tokens and is used on the platform to transact. Holders of KERMIMT tokens also can claim a portion of trading fees.
4- Atlas Finance
Atlas Finance is a cross-chain DEX built on Solana with the main purpose of providing users with aggregated liquidity through a single user-friendly platform. It plans to be a DEX where traders can trade any token available through a list of supported exchanges. With Solana’s fast transactions and low fees, Atlas is able to provide a good user experience at attractive prices.
Atomic is a non-custodial crypto wallet that provides support for SOL and SPL tokens built on the Solana network. Atomic also offers payment gateway features and crypto on-ramp capabilities. What makes this project unique is that they offer SOL staking at around 7% APY. Also, they have a 1% cashback when users swap from their listed crypto pairs. On top of that, they offer users to buy cryptos directly through bank cards in USD and EUR.
The simplicity of this project comes from solid encryptions, no accounts needed to start, and no verification or KYC for basic features.
If you’re looking to invest in small projects that might explode in the long run, 1Sol might be your thing. It is a cross-chain DEX aggregator for decentralized protocols on Solana, enabling seamless, efficient, and protected operations in DeFi. With DeFi infrastructures in rapid growth, aggregators are in high demand. Cross-chain transactions are definitely an interesting advancement for the future. 1Sol aggregates swaps, integrating order books and expanding to OTC markets.
SolApe is a serum-based Solana DEX. It was created with the belief that crypto and blockchain tech should appeal to the masses through easy accessibility and bring forth an ecosystem that is rewarding and fun. Their goal is to provide newbies with an onboarding point to the crypto domain, or for existing members to experience it in a whole new light. Their Decentralized Exchange (DEX) serves as not only a place to trade the highest market cap coins, but also offers new projects within Solana a platform to list their tokens, and deliver their communities a center to trade them.
They are soon tapping into the NFT eco-system by enabling “Ape Art”, which is kind of a trend lately with the “Crypto Punk” craze.