Solana Ecosystem Overview after FTX Crisis
Solana, the thriving blockchain network, boasts a vibrant ecosystem of decentralized exchanges (DEXs), each offering unique features and benefits to the crypto community. Today, we will learn about the top 5 best Solana DEXs in 2024 through this article.
Influence of DEX on Solana
In a matter of mere months, Solana’s leading decentralized exchange (DEX) platforms, notably Raydium and Orca, have shown exceptional growth, challenging well-established names in the market and substantially increasing their trading volumes and total value locked (TVL).
Top 5 Best Solana DEXs 2024
- 01 Protocol
Orca, the decentralized exchange (DEX) on the Solana blockchain, is making waves with its innovative approach to automated market maker (AMM) models. Similar to established platforms like Uniswap, Orca brings fast and cost-effective token exchanges to Solana enthusiasts while harnessing the unique advantages of the Solana ecosystem.
- User-Friendly Interface and Wallet Compatibility
- Low Costs and Swift Transactions
- Fair Price Indicator
- Liquidity Provision on the Solana Network
Raydium is a decentralized AMM (automated market maker) on the Solana blockchain. It has quickly risen to prominence by leveraging the strengths of Solana’s vibrant ecosystem and Serum. Raydium is on the list of best Solana DEXs, which is unquestionable.
- Faster and Cheaper Transactions
- Serum Liquidity Integration
- Professional Trading Interface
- IDO Platform
The next name on the list of best Solana DEXs is 01 Protocol. It is a decentralized protocol that aims to create an innovative derivatives trading environment on the blockchain.
- Decentralized Options Trading with No Expiration Date
- Cross-Chain Mortgage for Enhanced Flexibility
- Decentralized Order Book Market for Enhanced Visibility
- Trustless Transactions for Enhanced Security
Serum’s journey began with a vision to eliminate centralization vulnerabilities that plagued the DeFi space, striving to create the ultimate user experience. Serum can be said to be one of the best Solana DEXs providing many options for users.
- Fully Decentralized Oracles
- Unparalleled Speed and Cost-Efficiency
- Advanced Orderbooks with Serum DEX
- Cross-Chain Swaps
- Innovative Stablecoin Models
Originally known as Saberswap, the project was a DEX and AMM platform operating on Solana’s blockchain.
- Anti-Price Slippage Mechanism
- Powered by Solana