Mercurial Finance was Solana’s first project to concentrate on stablecoin trade. DeFi Alliance gave the platform a starting investment of $100,000– an industry accelerator.

It currently holds $62.57million in total value. The token is also available via FTX. Gate.io. Raydium. and Serum Dex. Half of token sales go to Marcuial Foundation. 10% goes to team members. 20% are reserved for private sale.

Parrot Protocol is a DeFi network that allows users to access value in DeFi systems. It has its own stablecoin protocol, which is pegged at $1. This allows holders to lend against lenders to retrieve locked value. Anyone who wishes to secure their tokens with Parrot Finance can also use a governance token. The application has a total of $86.86million locked. After two successful IDOs, the application has received $84 million in additional funding.

Parrot Protocol is now able to provide a full range of DeFi products. Currently, Parrot Protocol supplies only $2.1 million. Parrot Protocol’s tech-heavy capabilities are not the only thing that makes it unique. It also offers seamless UI.

Mango Markets has $126.39 Million in traded volume. The initial platform functioned as a lending platform. It raised $70million in the MNGO token sale of August 2021. Mango Markets has expanded to include Mango DAO, which now boasts a treasury of $871million and 92 DAO proposal.

Daffy is one of these DAO proposal creators. Mango Labs will be funded by $1.5 million to support the creation of a mobile application, marketing-making tools and creative Manga. According to Daffy, this DAO should help Mango become censorship-resistant.

Larix can be described as a metaverse-based financial protocol. This protocol offered mortgage lending and auto compounding, which was a significant expansion of the traditional lending pool offerings. LARIX costs $0.007 and has a total value of $135.86million.

Larix Protocol has also joined forces with Soldex.ai the Solana Build Decentralized Exchange. This partnership means Soldex would gain from Larix’s exposure. Larix would also gain because Soldex is the third-generation fastest decentralized exchange.

Orca is a top-ranked decentralized exchange that was developed on Solana. It boasts an enormous traded volume and a staggering $516.6 million total value. When there was little infrastructure in Solana, the exchange was introduced to the market for its first time.

Three Arrows Capital recently provided $118 Million in financing for Orca. Other than a large backing, Orca also stands out for its ‘human-centred’ unique design. Unique features include the fair price indicator and imagine bar. In order to find pain points or areas that can be improved, users must be interviewed and viewed how they use existing products.

Saber offers liquidity that allows users to quickly swap between stable pairs of assets. This has an enormous impact on Solana. You can use it to access liquidity in USDT/USD and SOL. Market maker has cross-chain capabilities that allow it to connect with other blockchains, such as Celo, BSC, or.

In a very short time Saber is one of the most popular stablecoin swaps in the Solana ecosystem. It also has a large community on Medium and Twitter (NYSE:).

SolFarm was a DeFi app which raised $5M and increased its lending offering by Jump Capital, Alameda Research and Alameda Research. The Tulip Token is its native token. It allows you to use the blockchain’s high speed and low cost. The platform allows users to reap the benefits of competitive staking rewards.

SolFarm’s ticket TULIP is high up on the list but has a market capital of just $11 million. This price is considerably lower than November 2021’s highs of $49.82.

Serum Dex holds the highest total value with $959.9million in total locked value. The total value of Serum Dex is just a little short of $1 million. FTX, Alameda Research and other organizations created Serum Foundations. It is also co-founded by Sam Bankman-Fried who has recently been labeled the world’s youngest billionaire.

It is fast, inexpensive, and completely anonymous. The platform’s main purpose is to allow users to choose from a wide range of prices and order quantities by using a decentralized order book that uses smart contracts. This would allow users to have complete control over their trades. Serum Dex allows cross-chain trading, which allows users optimize other platforms such as ETH rivals.

Raydium has $1.05 million in locked funds and is the biggest automated market on Serum DEX. Price history for the RAY token is known. It was available beginning February 20, 2021 and reached an all-time high price of $16.93 in February 2021. It also has an aggregate supply of 550 millions.

Raydium lets users earn yields, join IDOs, or exchange tokens. Raydium can also be used to fundraise, create new markets, and scale your business.

Finally, there’s Solana itself with $54.6 billion in total value locked. Solana’s main objective is to host scalable applications. Solana is capable of processing up to 50,000 transactions per minute. Visa (NYSE: ) cannot process as many transactions per second, and Ethereum is limited to 54 transactions. Solana’s impressive speed and scaleability is due to the consensus behind it. This new concept is called Proof of History and not Proof of Stake, or Proof of Work.

Today, Solana holds plenty of potential but it also isn’t perfect. It has its fees and speed, but there are still challenges. Users doubt whether Solana’s network is stable enough considering it is significantly newer than more established names like Ethereum.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora advises its users to research cryptocurrency before making any investment.