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2021-11-16 09:49:56
SOLANA ECOSYSTEM OVERVIEW

1. Overview of Solana

- Solana is an open-source project implementing a new, high-performance, permissionless blockchain. It’s a high-performance Smart Contract Platform. Solana introduces many new and unique technologies, to provide users with high transaction speed and security, with the ability to scale up to hundreds of thousands of transactions per second through hardware upgrades.

It is possible for a centralized database to process 710,000 transactions per second and 400ms block time. Solana does not need to apply complex solutions like Sharding (database fragmentation) or Layer 2. The average fee per transaction is around 0.00005 SOL (about $0.0025). 

 

2. Tokenomics

2.1 Key Metrics 

Name: Solana.

Ticker: SOL.

Blockchain: Solana.

Consensus: Proof of Stake (PoS).

Consensus Mechanism: Tower BFT.

Token type: Utility Token.

Block time: 400ms.

Avg. Transaction Time: 50,000 - 65,000 TPS.

Token Standard: SPL.

Max Supply: 1,000,000,000 SOL.

Current Total Supply: 506,960,582 SOL.

Circulating Supply: 300,685,398 SOL.

 

2.2 Token distribution

- Seed Sale tokens comprise 16.23% of the total token supply.

- Founding Sale tokens comprise 12.92% of the total token supply.

- Validator Sale tokens comprise 5.18% of the total token supply.

- Strategic Sale tokens comprise 1.88% of the total token supply.

- CoinList Auction Sale tokens comprise 1.64% of the total token supply.

- Team tokens comprise 12.79% of the total token supply.

- Foundation tokens comprise 10.46% of the total token supply.

- Community tokens comprise 38.89% of the total token supply.

 

2.3 SOL Token Use Case

Fees: SOL will be used to pay fees in Solana's blockchain network such as transactions fee, smart contract fee, etc.

Reward: SOL coin is used as a reward for Stakers/Nodes to ensure the stable operation of the network.

Governance: SOL coin will be used for future governance voting.

 

3. Investor and partner

Solana is invested by large VC funds such as Multicoin Capital, Slow Ventures, Foundation Capital, Polychain Capital, BlockTower Capital, Kosmos Capital … 

In 06/2021, Solana Labs raised $314 Million in Token Sales to develop technology used in Decentralized Finance (DeFi).

 

4. Solana Ecosystem Overview

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Source: Solanians
 

4.1 DeFi on Solana

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Source: Solanians

4.1.1 Stablecoins

There are many kinds of stablecoins on Solana that play important role in the Solana Ecosystem include USDT, USDC, UPFI, UST, JPY, SNIR, and BRZ.

4.1.2 DEXs

AMM projects:

Common AMM: Raydium, Orca, Saros Finance, Cyclos, HydraSwap, Senswap.

AMM for stable assets: Merucial Finance, Saber.

Order-book project: 

Serum is Solana's most outstanding Dex Order-book. Serum is not just an ordinary DEX Order-book but also a common pool for the entire project developed on it. In addition, there are other Order-book projects in Solana: Dexlab, SolAPE Finance, Open Serum, Slope Finance and Aldrin. 

4.1.3 Lending and Borrowing

- Money market: Port Finance, Solend, Jet Protocol, Acumen, Larix, Apricot Finance, Everlend, Solaris, Zero Interest. 

- Lending P2P: Oxygen.

- Debt Protocol: Parrot.

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Source: Solanians

4.1.4 Derivative

Margin Trading: Mango Market.

Synthetic Assets: Synthetify.

Index: Symmetry.

Perpetual: Drift Protocol, Bonfida

Options: PsyOptions, Zeta Markets, Unk Finance.

Prediction: HedgeHog.

4.1.5 Aggregator

Yield aggregator projects: Solfarm, Sunny, Solyard, Francium.

DEX aggregator projects: 1Sol, Sol Ape.

4.1.6 Asset Management

Solrise Finance is Solana's most outstanding Asset Management. In addition, there are other Asset Management projects in Solana: Investin, ApeXit. 

 

4.2 NFTs and Gaming on Solana

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Source: Solanians
 

4.2.1 Marketplace

Permissioned Marketplace (Need to register to be listed on the floor): Solanart, DigitalEyes.

Permissionless Marketplace (No registration required to get a listing): Solsea, Magic Eden, Holaplex, FracTion. 

4.2.2 NFTs (Collections)

The most valuable projects in the field of collectibles in Solana include SolPunks, Degenerate Ape Academy, Galactic Gecko, and Solarians

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Source: Solanians

4.2.3 NFTs x DeFi

The number of NFTs x DeFi projects in Solana is still less than NFTs collection projects. The best quality NFTs x DeFi projects can be mentioned as Blockasset, DefiLand, Space Hamster, Meta Safari, and Scallop.

4.2.4 Gaming

The best quality game projects on Solana can be mentioned as Star Atlas, Project Seed, Aurory, OpenErra.  

In addition, there are other Gaming projects in Solana: Genopets, Solana Valley, Sol Chicks, Anti Social Robot Club, Plush Fight League, Cheesy Dizzy, Guild Verse, ….

 

4.3 Infrastructure

4.3.1 Oracle

-  Pyth Network, Switchboard, Band Protocol, ChainLink, Fux, and Gravity. 

4.3.2 Bridge

- Allbridge, Wormhole.

In 09/2021, Allbridge reach an incredible milestone of $1.15 billion bridged and had our biggest transaction yet — $50 million worth.

4.3.3 Others

In addition to the above branches, we have many other pieces of infrastructure with different functions on Solana that we should pay attention to, including Parsiq, The Graph, Waves, Torus, Moonpay, Akash, Electron, ...

 

4.4 Wallet

A wallet is an indispensable part when participating in Crypto in general, storing and transferring assets, swapping, and adding liquidity (DeFi) is one of the basic needs of users. The current best wallet products for Solana systems include Neko Wallet, Coin98 Wallet, Phantom, Solet, and Solflare.

Learn more about How to create and use Neko Wallet

 

 If there are any questions, please feel free to join our community for further discussions about Crypto/Neko Wallet with our team and other members!