This weekly recap is for informational purposes, not investment advice. Readers will be responsible for all their actions.
Data on-chain
Validators
(Source: validators.app)
Solana currently has 915 validators, of which the top 20 validators account for 33.5% of the total stake, with an Effective Staking APY of 6.43%. The leading Validator is Chorus One, which provides staking and interoperability solutions on over 25 decentralized networks, accounting for 4.11% of the Total Stake of Solana. Thanks to the recent success of Dapps on Solana, the number and activity of validators have increased, creating a decentralized network.
Transactions
(Source: solanabeach.io)
Solana’s transactions remain the same with more than 24 billion transactions with an average of 1518 TPS. Transactions are expected to increase strongly in the near future since Solana is increasingly favored by fast transaction times, while fees are very cheap.
Market Capitalization & Trading Volume
(Source: Coingecko)
Polkadot’s Market Capitalization was ahead of Solana by $6B, but Solana’s Market Capitalization has grown 1.5x, reaching $45.7B, slightly above Polkadot within 1 month, which shows the impressive growth of Solana. With the spectacular breakthrough in the value of SOL, it is expected that there are be large money flows flowing into the ecosystem soon, causing Solana to explode more this year.
$SOL Performance
(Source: pejman_zwin, Tradingview.com)
Last week, the price of $SOL hit an all-time high and is still hovering around that spot until now. The above picture is a price prediction image based on technical analysis. As you can see, the price of $SOL is at a fairly high level, and there will be strong corrections, so if you haven’t bought it yet, let’s wait for another time. If you want to trade, you should carefully calculate and find time to cash out. Again, this is not investment advice, and you are solely responsible for all your decisions.
Panorama of the ecosystem
Most-Traded Raydium Permissionless Pools last 7D
Solanium continued to take first place in terms of volume traded on Raydium Permissionless Pools the last week, far ahead of the other projects in the rankings. Solanium is decentralized fundraising and trading platform on the Solana blockchain.
Low Marketcap Project on Solana
There is a rule in investing, which is “High risk, high return”. The smaller the market capitalization a project is, the higher chance the ROI of that project brings back. If you are looking for a project with high risk and return on Solana, you can refer to the projects above. Please notice this is not investment advice, for informational purposes only.
Important Updated
Launching Cropper Finance – IDO on Solanium
Cropper Finance is an automated market maker (AMM) built on the Solana blockchain, which leverages the central order book of the Serum decentralized exchange (DEX) to enable lightning-fast trades, shared liquidity, and new features for earning yield.
The basic info of IDO:
- Token: $CRP
- Price Per Token: $0.05
- Number of Tokens: 4,000,000 $CRP
- Accepted Currency: USDC
- Total raise in Public Sale: $200,000 USD
Integration Announcement: 01 protocol x Pyth Network
01 Protocol – Decentralize Derivatives powered by Solana, creating fully autonomous markets, instant liquidity, millisecond transaction speeds, and DeFi-wide low fees. The goal of this partnership is to build an innovative derivatives protocol on Solana.
Solana’s Mango Markets DEX raises $70M in $MNGO token sale
Mango provides a trading hub for spot markets, perpetual futures, and lending. It sources liquidity from its own pools and Serum, an exchange built on the Solana blockchain.
MNGO has three goals: to capitalize an insurance fund, distribute the DEX governance token, and incentivize liquidity for market makers. 90% of tokens are locked up in a governance fund, 5% in an insurance policy, and the rest in contributor tokens.
The raise will go to DAO’s insurance fund, securing a hefty backstop for Mango Protocol’s lenders.
$DXL from Dexlab is now on Bonfida
While Dexlab makes launching on Solana easy with a Coin minting lab, a launchpad, and a dedicated DEX for all listings, Bonfida is the full product suite that bridges the gap between Serum, Solana, and the user. This partnership will promote support and build a strong Solana ecosystem.
Star Atlas will be launching on AcceleRaytor
Star Atlas – Next-gen metaverse where you can create, play, & learn with others globally, will be launching on AcceleRaytor with an IDO to follow on Raydium Protocol. We will update you as soon as receiving the latest news.
Port Finance – $PORT will be live on Raydium Protocol
Port Finance is a lending protocol that aims to provide an entire suite of fixed income products, including variable-rate lending, fixed-rate lending, and interest rate swaps. This partnership will help both projects increase liquidity and reputation.
$RAY will list on Binance with native SPL token support
Raydium is an automated market maker (AMM) built on the Solana blockchain, leverages the central order book of the Serum Decentralized Exchange (DEX) to enable fast trades, shared liquidity, yield earning opportunities, and new project launches.
$RAY is the native utility token of the platform and is used for liquidity mining incentives, staking, eligibility for new project launches, and participation in governance.
Binance has listed $RAY in the Innovation Zone and opened trading for RAY/BNB, RAY/BUSD, and RAY/USDT trading pairs since 2021-08-10 06:00 AM (UTC).
Partnership
Acumen x Mercurial Finance
This partnership enables users to be able to lend and borrow $MER while earning $ACMN. Additionally, Mercurial LP tokens are on the air on Acumen.
Burnt Finance x DeFi Alliance
The DeFi Alliance operates one of the most respected accelerator programs in the DeFi industry and has supported countless projects that have become pillar players in the field, such as Synthetix, Injective Protocol, and 0x.
Besides providing comprehensive support through their esteemed accelerator program, the DeFi Alliance runs several initiatives to push forward the best interests of the DeFi space. The imperatives of Burn Finance closely align with the ethos of DeFi Alliance.
Switchboard x Parrot Finance
This partnership help Devs can integrate the $PAI feed on both mainnet & devnet. Besides, adding support for a number of LP token price feeds to help support their mission of unlocking capital efficiency
Port Finance x DeFi Alliance
Accelerator Program includes a 6-week program featuring talks from leading experts, hands-on mentorship, demo days & more to boost the project’s liquidity and other needs.
Saber x Marinade Finance
This partnership creates an mSOL/SOL pool, making staking on Solana liquid and accessible to all.
Marinade Finance is the first liquid staking protocol built on Solana, allowing users to frictionlessly stake, trade, accrue rewards, and collateralize their staked SOL by tokenizing it in the form of mSOL.
Related Publications
Ethereum Weekly Recap Week 33 (11/8 – 17/8)
BNB Chain Weekly Recap Week 43 (20/10 – 26/10)
Ethereum Weekly Recap Week 46 (10/11 – 16/11)
Fantom Weekly Recap Week 43 (20/10 – 26/10)
