1/ The Solana ecosystem is growing rapidly in projects, traders and users.. could we be heading into Solana Season?

I've spent the last few weeks digging into the SOL ecosystem, here's what I've found so far.

Deep Dive Thread

2/ Firstly, what is Solana $SOL? (MC: $5.2B)

Solana is a fast, secure, censorship-resistant L1 blockchain with incredibly low fees.

Right now you can make roughly 1000 transactions on Solana for around $0.01

Comparison from @Coin98Analytics

3/ There's currently huge amounts of capital and developers flowing into the Solana ecosystem.

New $SOL based projects are popping up every day.

Image from @solanians_

4/ The Solana Foundation has just partnered with exchanges Okex and MXC two launch two funds with a combined 40m in capital to bring more decentralised applications and projects to market. https://cointelegraph.com/news/solana-raises-40-million-in-strategic-investments-from-okex-mxc-exchanges

5/ But where can you buy/trade these new $SOL projects?

Firstly there's Serum $SRM (MC: $260m)

Serum Is a decentralised exchange built on Solana with sub-second trade speeds, on-chain order books and lower fees than any other DEX

6/ @ProjectSerum is backed by Sam Bankman-Fried.

@SBF_Alameda is the founder of @FTX_Official which is one of the fastest-growing and highest-volume centralised cryptocurrency exchanges (You can also trade many Solana based projects on FTX)

7/ You can also trade many emerging Solana projects on Raydium $RAY (MC: 220m)

@RaydiumProtocol is an automated market maker - it's basically Solana's version of Uniswap/Pancakeswap but with some key nuances.

8/ Unlike other AMMs, Raydium provides on-chain liquidity to a central limit order book, meaning that pools have access to all liquidity on Serum.

It's also Solana based which means fast, low-cost transactions.

and if you're into farming you should check out their LP yields

9/ If the interest, hype and new projects in Solana's ecosystem continue to grow at the current pace then we could see price action and volume on Raydium & Serum similar to that of Pancakeswap & Uniswap.

The thought of this makes $RAY & $SRM's 200m market caps seem very low.

10/ Some other notable active Solana projects:

• @Oxygen_protocol $OXY - A DeFi Prime Brokerage Protocol with various strategies for earning yield.

• @bonfida $FIDA - Bonfida provides on-chain data, trading strategies and their own alternative DEX.

11/ Upcoming Solana Projects:

• @solstarterorg - Solana's first IDO Launchpad platform for projects to raise liquidity in a fair & decentralised manner.

• @staratlas - A VR enabled space-based blockchain strategy game that incorporates NFTs.

12/ Solana tools:

• http://explorer.solana.com  - Block explorer
• http://Sollet.io  - Wallet
• http://solanabeach.io  ( @solanabeach_io) - View statistics, validators, token metrics and news about the overall Solana ecosystem

#solseason