In this regard, it is pertinent to mention that over the course of 2021 alone, the amount of capital locked within this space has risen by over 400% — increasing from $25 billion to a little over $115 billion. Not only that, while in the past the DeFi sector was largely dominated by Ethereum-centric platforms, […]
In this regard, it is pertinent to mention that over the course of 2021 alone, the amount of capital locked within this space has risen by over 400% — increasing from $25 billion to a little over $115 billion.
Not only that, while in the past the DeFi sector was largely dominated by Ethereum-centric platforms, recently an increasing number of alternative ecosystems have started to gain traction fairly rapidly within this space. Solana, in particular, has piqued the interest of many investors across the globe, as is best highlighted by the fact that over the last twelve-month stretch, the project has been able to accrue profits well in excess of 5,000%.
In its most basic sense, Solana can be described as a crypto computing platform that is designed to help facilitate high-speed, voluminous transactions without compromising on key aspects such as transparency and decentralization, issues that a lot of other platforms seem to be dealing with these days.
As a result of its scalability-oriented design, Solana is fast becoming the favoured dev protocol for many decentralized exchanges (DEX). In this article, we will seek to list out some of the most popular DEXs that have been built atop Solana. So without any further ado, let’s get straight into the heart of the matter.
DexLab
DexLab is an integrated DEX ecosystem that comes replete with an easy-to-use GUI capable of issuing Solana-based tokens without users needing to know anything about coding. On a more technical note, the platform leverages Serum Decentralized Exchange’s central order book, as a result of which it is able to support ultra-fast transactions as well as provide users with shared liquidity and a host of other monetization features.
To elaborate, using DexLab, clients can not only mint SPL tokens but also list them online in a highly seamless manner. The platform’s native ‘Minting Lab’ module has been devised to help take care of an individual’s token publishing as well as smart contract deployment needs.
Atani DEX
One of the most future-ready decentralized exchanges in existence today, Atani’s DEX aggregator brings together a whole host of novel, future-ready features such as a stop-loss module, automated profit-taking feature, etc. Not only that, the ecosystem is designed to help facilitate a whopping 65,000 transactions per second at an extremely affordable rate of just $0.00001 per txn.
Another unique aspect of the platform is that it is able to offer an amazing level of operational scalability without the use of any layer-2 solutions or sharding mechanisms, thereby being able to maintain a high degree of decentralization and overall platform security. Last but not least, AtaniDEX comes with a number of advanced trading tools such as a built-in technical analysis (TA) system, portfolio tracker, and price alert module.
LunaDEX
LunaDEX is a fully functional decentralized exchange that has been built atop the Solana ecosystem. It offers users with a whole host of attractive features ranging from high transaction speeds, low latency as well as affordable transaction rates. To elaborate on LunaDEX’s operational efficiency, it should be pointed out that the platform utilizes the functional capabilities of another DEX called Serum, integrating its automated, on-chain limit Order Book to help maximize its operational capacity.
Solanax
Solanax can be described as a decentralized, non-custodial automated liquidity mechanism featuring a wide array of advanced trading features allowing users to exchange various crypto tokens seamlessly within the Solana ecosystem.
From a feature-based standpoint, the ecosystem delivers a hassle-free trading experience while offering a high level of liquidity — primarily because it incentivizes users to pour capital into the platform, especially in relation to low-volume assets. Lastly, Solanax offers near-zero transaction fees for SPL token swaps, all while offering users a range of financial bonuses and benefits.
Looking ahead
As the world of decentralized finance (DeFi) continues to roll on with a full head of steam, it is worth remembering that alongside Ethereum, Solana too has been gaining a lot of mainstream traction in recent months. For example, a recent study revealed that Solana currently has more full-time devs working on the project when compared to Ether at the same point in their historical development. Not only that, but the project has also continued to accrue a growing amount of institutional investor support, signalling interest from mainstream entities in Solana’s sustained, long-term growth.
