Top 24 Popular dApps On Solana Blockchain In 2023
Solana is home to over 297 dApps and more than 350 projects on the network. It was launched in 2017 with the goal of hosting decentralized and scalable applications. Compared to other popular blockchain networks such as Ethereum, Solana has the power to process a higher number of transactions at low transaction costs. Moreover, Solana is the fastest blockchain in the world, capable of processing over 50,000 transactions per second.
At the time of publication, Solana is once again on the rise, offering value to NFT projects, DeFi protocols, and dApps with three major properties: scalability, security, and decentralization.
Let’s take a deep dive to find out its top performers that investors should be aware of.
According to the platform’s official website, MeanFi is a censorship-resistant, user-friendly, self-custody, permissionless & trustless bank bringing everyday banking workflows and real-time finance to crypto and DeFi.
MeanFi enables access to several capital products like deep liquidity markets, a decentralized exchange, and access to several investment vehicles for businesses, DAOs, projects, and organizations with asset and risk management tools like multisigs, treasuries, payroll, payments, and collections to create and manage international accounts with thousands of assets like stables coins and tokens.
Built on the Solana blockchain, the Mean Protocol allows transaction coordination via multiple sub-graphs and programs, such as the Hybrid Liquidity Aggregator, DDCA, MultiSigs, Treasuries, and Money Streaming programs.
Built on the Solana blockchain, Raydium is an automated market maker (AMM) leveraging a central limit order book to enable lightning-fast trades, shared liquidity, and new features for earning yield.
Raydium doubles down on the fact that other AMMs can only access the liquidity with their own pool while running on other blockchains like Ethereum which offers slower transactions at higher gas prices.
Moreover, Raydium enables an unmatched trader experience for users via a swap feature that allows two tokens to be exchanged quickly within liquidity pools, with advanced trading features including limit orders.
According to the platform’s website, Raydium records a TVL of over $45,000,000 and growing, alongside unlocking over $52 billion in total trading volume, at the time of writing.
Similar to Raydium, Saber is also an automated market maker (AMM) and liquidity pool on Solana designed for extremely efficient trading between similarly priced (pegged) assets, without an opportunity cost.
Saber’s trader activity enables fees for providers of liquidity, resulting in a safer, lower-risk staking opportunity representing real-world transaction volume. Moreover, Saber specializes in three major assets including USD stablecoins, bridged assets, and staking derivatives.
Saber claims to be a low-risk staking destination, encouraging a large transaction volume via the best pricing for swaps and high compatibility with other DeFi applications on Solana, reducing the opportunity cost for the otherwise low yields.
Orca is a non-custodial decentralized protocol that facilitates trades on Solana, allowing the protocol will interact directly with users’ wallets when users trade tokens. Orca works for wallets created on Solana in association with Phantom, Solflare, Math Wallet, Coin98, SafePal, BitKeep, or Slope.
To pay network fees on each transaction, Orca requires users to have Solana’s native token, SOL. According to the website, the network fees are only a fraction of a cent per transaction, hence just a dollar or two is enough to get started.
Solcasino is one of the leading crypto casinos on the Solana blockchain. It’s a live playable casino that users can use directly via their web3 Solana wallets. Launched in 2019, the gaming platform offers over 3000 casino games across the globe, varying from table games to an excellent sportsbook, as well as, thousands of casino games to play, such as live dealer, sports, crypto, slots, free spins, and much more.
In addition, Solcasino offers nine different bonuses, including a welcome bonus, 2nd deposit bonus, reload bonus, and free spins. Moreover, it hosts frequent tournaments with huge sums of rewards to engage users. It offers also 24/7 customer support services to users who can resolve their queries and concerns as soon as possible.
According to the platform’s website, Mercurial is building new liquidity systems to maximize the utility and yield of stable assets on Solana. With diverse variants of collateralized, wrapped, and synthetic assets, Mercurial aims to facilitate the best liquidity for all the major stable and pegged assets on the blockchain.
The dApp claims that their focus will be on the robust availability of stablecoin liquidity and building dynamic vaults, which are market-making vaults providing low slippage swaps for stables, while also improving LP profits with dynamic fees and flexible capital allocation.
Larix is the first Metaverse based Finance Protocol on Solana, which adopted a dynamic interest rate model and created more capital-efficient risk management pools, including a broad range of collateral types, crypto tokens, stablecoins, synthetic assets, NFTs, and other kinds of assets (account receivables, invoices, mortgages, etc.) can be fully utilized in a safe way.
Moreover, the dApp, which accepts all valuable assets, claims its rewarding system based on a delicately designed token economy powers a continuous incentive allocation to encourage demands.
Additionally, Larix’s lending and borrowing infrastructure allow determined token holders with faith in Larix’s token value, to get APY interests in the long term alongside value growth.
Solend is an algorithmic and decentralized lending and borrowing protocol on the Solana blockchain. According to the dApp’s website, Solend identified a lack of fast and affordable lending and borrowing products in the DeFi ecosystem. Hence, it chose Solana to scale Solend into a 100 times faster, cheaper, easiest to use, and most secure solution.
To use Solend, users require a Solana wallet. The platform recommends Phantom. However, the platform accepts a range of assets including USDC, ETH, BTC, or SOL.
Dradex is the first unified Order Book & AMM model built on the Solana blockchain, fully integrated to enable trades with minimum slippage. The dApp claims that its algorithm automatically executes users’ orders at the best price from a seamless combination of either the Order Book or the AMM Liquidity Pool.
Dradex unpacks an exclusive array of features for a consistent trading experience including:
- Market Orders with low slippage
- Lucrative benefits for Liquidity Providers
- Support tokens from multiple chains (Solana, Ethereum, Binance Smart Chain, Avalanche, etc.)
- Permissionless markets and farms
- Decentralized & non-custodial
- Fast trades & Low Fees
Kamino is an automated liquidity solution, built on DEXs operating concentrated liquidity market makers (CLMMs). In a market where liquidity providers seek increased capital efficiency, Kamino capitalizes by leveraging automated market-making vaults to improve the expected yield from fees and rewards.
In addition to Kamino’s fungible kToken as a receipt of deposit, the dApp claims to maximize capital efficiency and yield through:
- Advanced market-making strategies
- Automated position rebalancing
- Auto-compounding fees/rewards
- Passive user participation (improved UX)
- Users whitelisted as collateral to borrow USDH
With 0% listing fees and 2% transaction fees, Magic Eden is an NFT marketplace powered by Solana. They allow for both cross-chain and on-chain transactions, allowing you to purchase and sell native Solana assets as well as other collectibles from numerous other blockchains all in one place.
Crema Finance is a dynamic liquidity protocol based on Solana that offers traders and liquidity providers greater performance. Never before has earning rewards for your investments been so easy. Crema offers you the greatest price slippage reduction and market depth currently accessible.
The following components make up the majority of the Crema Finance system:
- Concentrated Liquidity Market Maker
- NFT Liquidity Farming
- Smart Router
- veCRM-Driven DAO Governance
Built on the Solana network, Solanart is a trustless non-custodial NFT marketplace.
The platform makes it simple for consumers to create and sell their own unique NFTs, but it’s really for the artists who seek to share their own distinctive digital creations with the entire world.
Every piece of art on Solahart is owned by the creator or artist who created it; no one else has custody or authority over it.
The crypto collectible game called SolaJump rewards players with cryptocurrency for their participation. It is a digital NFT collection protected by the blockchain.
When you bring your digital collection home, it becomes wholly yours, and you are the only one with control over it. Every NFT is equally significant and has a special tale to tell.
A peer-to-peer market for NFTs, ExchangeArt allows independent designers, artists, and other creatives to post and sell their products. Additionally, by eliminating the middlemen, it makes it simple for collectors to peruse incredible works of art and make direct purchases. ExchangeArt offers a tool that uses visual signals like shape and color to help you find exactly what you’re looking for in our collection.
The first permissionless and public NFT marketplace on Solana, DigitalEyes Market, is a non-custodial decentralized exchange (DEX), allowing users to transact safely and securely without having to entrust a third party with their money or run the risk of losing their money as a result of a hack.
Allbridge is a program that transfers assets between several blockchains. Allbridge enables decentralized exchanges to support both types of tokens without the exchange having to disrupt service by bridging between EVM-compatible blockchains and non-EMV-compatible blockchains.
Additionally, it enables value-preserving exchanges between unpopular and popular tokens. What is the process? When two transactions happen simultaneously, a tunneller publishes them both in blocks on their respective platforms and waits for confirmation from each before switching them.
The user will be sure to get the token they were looking for. There will always be someone available when you need to shift your assets because the tunnellers are rewarded by stakers seeking access to discounts on their own transfers.
Blockchain-based ecosystem, Chikin enables chicken farmers to raise and distribute poultry without the assistance of a middleman from the egg industry. By keeping chickens on the Solana network, farmers can earn ChikinCoin (CKC), and consumers can pay farmers with CKC to buy their chicken goods. Chikin is the first chicken-based cryptocurrency; our passion for developing a more convenient way to purchase eggs drives all we do.
RaceFi is a virtual racing game where you compete against other players for cash and cryptocurrency awards.
RaceFi, the first AIML-based vehicle racing game ever created, is found in the metaverse, a decentralized virtual world where users can communicate, participate, and acquire game-related property. This solution is supported by the blazing-fast blockchain technology from Solana.
RaceFi was specially created as a creative merger of smart contracts and NFTs, allowing anybody to own a portion of the game they love, just like they would own a collector card from their preferred anime series.
RaceFi’s platform is absolutely unique since all of the cars are AI-driven and totally decentralized.
A decentralized, locally owned, and artist-controlled music-sharing protocol is called Audius. To assist artists in publishing, monetizing, and distributing their work directly to audiences, Audius offers a blockchain-based alternative to current streaming services.
The project’s goal is to grant everyone the freedom to distribute, make money from, and enjoy any music.
Smart contracts, services, and other auxiliary libraries are all included in the mono-repository known as the Audius Protocol repository, which houses everything else needed to create and support the protocol.
Grape Protocol is a decentralized social networking system that gives users more control over the permissions associated with their accounts.
In order to grant users access permissions and rights based on their wallet balances, it uses a dynamic balance-based membership solution.
Users are instantly added to the secret grape testnet community when they have 30 SOL in their wallets. The Solana blockchain’s first application, Grape Protocol, offers quick transaction processing and simple scaling while maintaining decentralization.
The simplest way to discover, support and own your favorite creators is with Wumbo. You can quickly mint tokens for your favorite creators with Wumbo. Do you wish to become a member of a fan club? Or perhaps you simply adore their work and wish to support them. With Wumbo, you can immediately manufacture tokens on the Twitter feeds of your favorite artists and influencers. Wumbo also allows you to track other users’ tokens and see what they are supporting.
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