MAJR Coins is a research initiative highlighting top projects for investors.
This is not investment advice. Do your own research. These are personal opinions only.
- MAJR Team
Brief:
In this addition of MAJR Coins, we will analyze the crypto projects building on the Solana (SOL) blockchain. These ecosystem reports are designed to be concise to cover multiple quality projects that will perform as the Solana blockchain matures. These are all high-risk / high-volatility - young projects.
Ecosystem link - here.
Matt Verklin
@mverklin
Top Projects: Token Links
Other - Sunny Aggregator (SUNNY) Parrot Finance (PRT) Mercurial (MER) Step Finance (STEP) Mango Markets (MNGO) Solanium (SLIM) Port Finance (PORT)
NFT Projects on Solana - here.
Serum (SRM) - here / $7.07 - $924 million market cap
5th for TVL, next to SolFarm
Serum is a protocol and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance. It is built on Solana and is completely permissionless. Ecosystem partners can compose with Serum’s on-chain central limit orderbook to share liquidity and power markets-based features for institutional and retail users.
More specifically, Serum's on-chain central limit order book and matching engine provides liquidity and price-time-priority matching to traders and composing projects. Users benefit from this exchange model through the ability to choose the price, size and direction of their trades. Composing projects benefit from Serum’s existing architecture, bootstrapped liquidity, and matching service.
The Ultimate Vision behind Serum is to drive the global mass adoption of DeFi. One conceptualization of this goal includes the milestones of reaching 1 billion users and $10T of on-chain value.
Big-time crypto partners - FTX, Multicoin Capital, Genesis, Parafi Capital, Alameda Research
All-time high price & cap: $13.78 / $1.0 billion
Raydium (RAY) - here / $9.13 - $650 million market cap
Total value locked (TVL) = $1.460 billion
Faster and cheaper: We leverage the efficiency of the Solana blockchain to achieve transactions magnitudes faster than Ethereum and gas fees which are a fraction of the cost.
A central order book for ecosystem-wide liquidity: Raydium provides on-chain liquidity to the central limit order book of the Serum DEX, meaning that Raydium allows access to the order flow and liquidity of the entire Serum ecosystem.
Trading interface: For traders who want to be able to view TradingView charts, set limit orders and have more control over their trading.
2nd largest project by TVL, next to Saber.
All-time high price & cap: $16.83 / $1.1 billion
Oxygen (OXY) - here / $2.23 - $450 million market cap
Oxygen is a DeFi prime brokerage service built on Solana and powered by Serum's on-chain infrastructure. Built to support 100s of millions of users, it serves as a permissionless, cheap, and scalable protocol that democratizes borrowing, lending, and trading with leverage and allows you to make the most of your capital.
You can earn yield, borrow from peers, trade directly out of your pools, and get trading leverage against a portfolio of assets. It provides a more efficient way to manage capital and is unique from other borrow lending protocols in three ways:
Multiple uses of the same collateral. Oxygen enables you to generate yield on your portfolio through lending out your assets and borrowing other assets at the same time.
Cross-collateralization. You can utilize all of your portfolio as collateral when you want to borrow other assets, meaning a lower margin call and liquidation risk for your portfolio.
Market-based pricing. Oxygen protocol is order-book based instead of following a pre-set market model that needs to be manually adjusted.
Oxygen is 100% decentralized, 100% non-custodial, and 100% on-chain. All transactions are purely peer-to-peer with no involvement from a centralized operator. Oxygen protocol never has access to your private keys at any point.
Core team - Goldman Sachs, JPMorgan, CME, Bank of America, Barclays
Big partners - Alameda Research, FTX, Spartan, Sino Global Capital and more.
All-time high price & cap: $4.16 / $685 million
Bonfida (FIDA) - here / $6.06 - $297 million market cap
Decentralized exchange (DEX)
Products include - decentralized naming service on Solana, custom trading bots, perpetual swaps, staking, and buy and burns.
$26.43 million in daily trading volume. Since launch has done $8.57 billion. Backed by Sereum.
Big partners - Alameda Research, Three Arrows Capital, Spartan, Sino Global Capital and more.
All-time high price & cap: $8.88 / $393 million
Star Atlas (ATLAS) - here / $0.075 - $129 million market cap
Metaverse & play-to-earn crypto game
A grand strategy game of space exploration, territorial conquest, political domination and more.
Star Atlas is proud to announce that it has selected Solana as the protocol to build out its blockchain driven massively-multi player metaverse. Star Atlas is developing a unique gaming experience by combining blockchain mechanics with traditional game mechanics.
Star Atlas fully embraces the potential of decentralized self-sovereign ownership of assets permitted through the implementation of blockchain into asset ownership and NFT marketplaces.
Big partners - Animoca Brands, Sino Global Capital, Yield Guild Group, Mechanism Capital, Republic Capital.
The Metaverse Big Bang: Star Atlas Launches the Next Generation of NFTs through Galactic Asset Offering
Maybe the most anticipated video game in crypto and most ambitious metaverse project. Showroom - here.
Check out the trailer - here.
All-time high price & cap: $0.26 / $558 million
Orca (ORCA) - here / $15.54 - $129 million market cap
Automated market maker (AMM)
Total value locked (TVL) = $700 million
Orca is the easiest place to exchange cryptocurrency on Solana.
Staking available - here.
$18M fundraise from prominent crypto investors - Polychain Capital, Three Arrows Capital, Coinbase Ventures, Jump Capital, Placeholder
3rd largest project by TVL, next to Raydium.
All-time high price & cap: $18.29 / $147 million
Saber (SBR) - here / $0.23 - $48 million market cap
Automated market maker (AMM)
Total value locked (TVL) = $2.69 billion
The leading cross-chain stablecoin and wrapped assets exchange on Solana.
Saber provides the liquidity foundation for stablecoins, which is a type of cryptocurrency whose value is pegged to another asset, like the US dollar or bitcoin. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.
1st largest project by TVL.
Solana's Saber Labs Raises $7.7M in Seed Funding Round Led by Race Capital. The funding was led by Race Capital with participation from Chamath Palihapitiya's Social Capital, Jump Capital, Multicoin Capital and Solana Foundation, among others.
All-time high price & cap: $0.96 / $166 million
SolFarm (TULIP) - here / $17.75 - $24 million market cap
Decentralized application (dApp) - Yield Aggregator
Total value locked (TVL) = $611 million
SolFarm is the first yield aggregation platform built on Solana with auto-compounding vault strategies. In beta.
The dApp (decentralized application) is designed to take advantage of Solana's low cost, high efficiency blockchain, allowing the vault strategies to compound frequently. This allows stakers to benefit from higher APYs without requiring active management.
4th largest project by TVL, next to Orca.
Leveraged yield farming (LYF) compounding interest, high risk - here.
All-time high price & cap: $42.48 / $47 million
Solrise (SLRS) - here / $0.80 - $35 million market cap
Decentralized non-custodial fund management and investment protocol
Solrise is easy to use, practical, and almost trustless. Choose a fund to invest in, or create your own - with just a few clicks. Get exposure to assets from across Solana without sacrificing security or your time.
Solid partners - Delphi Digital, ParaFi Digital, Alameda Research, DeFi Alliance, Skyvision Capital. Backed by Serum.
Existing decentralized fund management platforms on Ethereum are suffering from brutally high transaction fees. With Solrise, you can create, enter, and exit funds all for under $0.01.
Solrise DAWN was the first official Solrise testnet competition. More competitions underway.
All-time high price & cap: $1.11 / $48 million
CropperFinance (CRP) - here / $0.58 - $11 million market cap
Automated market maker (AMM) / Permissionless yield farming platform
CropperFinance 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.
What makes CropperFinance different from other AMM is the ability it gives to SPL projects builders to launch permission less yield farming for their token holders on a plug and play basis.
Fixed cap token supply - 500 million. Earn CRP through staking and liquidity mining.
All-time high price & cap: $1.45 / $23 million
MAJR’s Top Projects:
Bitcoin, Ethereum, Polkadot, Kusama, Chainlink, Solana, Decentraland, Uniswap, Aave, Enjin, Maker, Filecoin, Terra, Litecoin
MAJR’s Simple Investment Strategies:
100% BTC - Min. Risk
80% BTC / 20% ETH - Min. Risk
50% BTC / 50% ETH - Med. Risk
50% BTC / 25% ETH / 25% [insert coin above] - Higher Risk
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THIS IS NOT FINANCIAL ADVICE. IT’S IMPORTANT TO DO YOUR OWN RESEARCH. INVESTING IN CRYPTOCURRENCY OR ANYTHING FOR THAT MATTER COMES WITH RISK. THE INFORMATION PRESENTED IN THIS NEWSLETTER IS FOR INFORMATION AND ENTERTAINMENT PURPOSES ONLY.