Top 5 Solana Projects To Keep An Eye On

Many users and investors are beginning to scout for projects that are worth engaging with. In this article, we will walk you through some of these exciting projects.

About Solana

Solana is the newest of notable blockchains. It is fast, efficient, and above all, and with a low transaction rate, and latency. Many projects and blockchain claiming to be the Ethereum killer had come before it, but none had ever come as close to the achievements of Solana Blockchain.

Launched in 2020, Solana is a decentralized public blockchain built to enable scalable, user-friendly apps for web 3.0. It processes 2,237 per second (Tps), and it is touted as being capable of handling 50,000 per second (Tps), making it faster than the Ethereum Network.

Solana achieves governance through the PoS consensus model. Solana’s native token SOL had moved from $30 to achieving above $200 ATH in a short period.

Both the Solana blockchain and coin have become popular among users and developers. And the Solana Blockchain has over 400 projects spanning DeFi, NFTs, and Web3.

Solana has attracted many projects on its Blockchain that are changing the way blockchain transactions are done. Most of these projects have become successful while others are yet to become mainstream. But here are a few Solana-based projects to keep an eye on, in no particular order.

Neon Labs EVM

Neon Labs EVM project is one to keep an eye on. This project is offering developers and investors something completely new. Neon Labs EVM is a project that is looking to tap into the best qualities of the two best blockchains in the industry. That is, the Ethereum Blockchain and the Solana Blockchain. The project summary is a “Virtual machine from Ethereum, Scalability, and liquidity from Solana”.

This is to say that projects on the Ethereum blockchain can tap into the new possibilities of the Solana ecosystem, especially its speed and low transaction fees. This ambitious project piqued the interest of investors: its private token sale sold out in hours raising about $40M. The project token sale was led by Jump Capital, IDEO CoLab Ventures, Solana Capital, Three Arrows Capital, and others.

Raydium

Raydium is one of the biggest dApp launched on Solana. It was one of Solana’s early projects. Raydium is currently ranked as number 1 on Solana-based projects according to dAppradar. According to Solana, Raydium is an Automated Market Maker (AMM) and liquidity provider built on the Solana blockchain for the Serum Decentralized Exchange (DEX). The Ray protocol is like a bridge for Sol-based projects. One of the advantages of using CEX’ is the simplicity of the order books. In liquidity pools, it is slightly different. Raydium is the first to incorporate a limit order book with a liquidity protocol for Solana Blockchain.

The project also built an “AcceleRaytor” which highlights the best upcoming projects on the Sol Blockchain and lets investors compete fairly for the projects. Solana noted that the Raydium project “will be a bridge for projects looking to expand to Solana and Serum, and in the process, Raydium and the RAY token will become a foundation for enabling further development with partners, its platform, and the ecosystem as a whole”. Raydium Token Ray is currently trading above $8 as of press time.

Orca

Orca is another liquidity pool automated market maker decentralized exchange (DEX) launched on the Solana Blockchain. dApprader placed it at the top 3 of Sol-based Apps. With Orca, you can exchange your tokens with cheap transaction fees and fast. As a liquidity trading protocol, users can also earn by providing liquidity to a trading pool to earn a share of trading pairs. Orca Native token, ORCA, is currently trading at $9.6 as of press time.

Star Atlas

Star Atlas is an interesting project launched on the Solana blockchain. It is a virtual massively-multiplayer Metaverse game. It employs real-time unreal 5 engine graphics technology for high-definition game visuals. It will also incorporate NFTs as well as marketplaces to trade game items collected within the star atlas ecosystem. Star Atlas is yet to launch; however, it is one of the most anticipated Metaverse projects.

The full version is expected to launch by 2022. Star Atlas has two tokens: POLIS used for governance, and ATLAS for game items. Polis is currently trading at $0.6, and ATLAS is trading at $0.1.

Synergy Land

Synergy Land is another blockchain game in development on the Solana Blockchain. The multiplayer ARPG game is developed by Synergy studio. The game is set in a Metaverse world divided into four ecosystems that represent the four elements: water, cold, Fire, and Earth. Players will be able to cast spells, fight monsters, go through dungeons, and discover new lands. The game is still in its early stage but is catching a lot of attention.

A Final Caveat

This is not financial advice. You should remember that Crypto and Blockchain tokens are very volatile, so please do your research before engaging with any project.

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