Weekly Recap | Week 36 on Solana

This weekly recap is for informational purposes, not investment advice. Readers will be responsible for all their actions.

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Data on-chain 

Transactions

(Source: solanabeach.io)

Solana’s transactions remain the same with more than 28 billion transactions with an average of 2,231 TPS. It is also understandable that the fast transaction speed and low fees are the competitive advantages of Solana compared to other projects.

Market Capitalization & Trading Volume 

(Source: Coingecko)

In just 1 month, Solana’s market cap has increased 4 times, reaching $77B and over $7.2B Trading Volume in 24. This number has far surpassed Polkadot’s $63B Market Cap, making Solana one of the most valuable ecosystems in the market.

$SOL Performance 

(Source: TheSignalyst, Tradingview.com)

About CCI Indicator, Solana price has floor divergence and a cross of the MacD line and signal line from bottom to top in the MacD indicator.

It has a “B” trend that can not break the “A” Trend (last Ascending trend). We think the “B” Trend has a high chance to back to the “A” Trend. Ascending Trend Is continues.

Panorama of the ecosystem

DeFi Comparison: Solana vs Cardano

Cardano is going to have a big update with the Alonzo hard fork on Sep 12th. However, the ecosystem still lacks many legos to build comprehensively like Solana, especially in the DeFi field.

News Project on Solana 

Synchrony: On-Chain Copy-Trading. Composable Indexes. Friendly Solana Farmer’s Market

ROX: NFT Generative dArt

SolSea: Open NFT Marketplace on Solana

SOLATI: An audibleNFT project that creates value by connecting NFT collectors and music artists, built on Solana

Important Updated 

MatrixETF will launch IDO on Solanium

MatrixETF is the next generation of ETF, allowing the acquisition of wealth as a passive and automated process. Anyone can make a fortune through the Internet regardless of geography and infrastructure and obtain an open and transparent investment portfolio and various investment strategies to quickly and easily participate in DeFi finance to obtain income and incentives and jointly determine the direction of development through the DAO community. 

Time: TBA ~ End of September

Apricot Finance publishes their testnet

Apricot is a next-gen lending protocol that supports leveraged yield farming on Solana. Its mission is to help users maximize yield while protecting their downsides. This testnet will help their users more understanding their mission

Check out how to max alpha with min risks: test.apricot.one

Port Finance announces Liquidity Mining and the future Roadmap

Liquidity Mining – rewards liquidity providers on the $PORT platform, distributes $PORT to the wider community. They will release 5000 $PORT tokens per day during the initial phase, which is 150,000 $PORT tokens per month (equivalent to approximately over $1M at the time of writing).

What’s next? Port Finance will focus our efforts in the following areas:

Establishing a DAO for users to decide on various parameters of the protocol

Integrating with Serum to allow for instant leverage and deleverage

Starting work on fixed interest rate borrowing and lending

DeFi Land raises $4.1M to launch decentralized finance game on Solana

Over 40 investors participated in DeFi Land, including Animoca Brands, Alameda Research, Jump Capital, NGC Ventures, Solana Foundation, and Gate.io. 

DeFi Land operates as an agriculture simulation game designed to gamify all aspects of decentralized finance. The platform introduces a play-to-earn model that allows users to earn income for completing tasks or reaching milestones. 

Saber – The first project on Solana to reach $2bn+ in TVL!!!

Just 3 Days after reaching $1bn+ in TVL, Saber reached $2bn+ TVL. Saber is a protocol enabling seamless cross-chain liquidity exchange, powered by Solana. It enables low slippage trading, even at large volumes, while maintaining high capital efficiency for liquidity providers.

The Parrot IDO Plan – A liquidity network for borrowing & lending

Parrot is a liquidity network for borrowing and lending. Since its mainnet launch in June, it has grown to $150M in TVL. $PRT – utility token that will enable community participation in many aspects of the Parrot Protocol.

There will be two auctions:

Auction 1 starts on September 14th, HKT 9 AM; PST 6 PM; EST 9 PM. 1,680,000,000 PRT tokens available (8% of supply)

Auction 2 starts on September 16th, HKT 9 AM; PST 6 PM; EST 9 PM. 420,000,000 PRT tokens available (2% of supply)

SolRazr raise $1.5M in Funding Rounds

Solrazr – First decentralized developer ecosystem for Solana, closed a $1.5M funding round from Moonrock Capital, Ascensive Assets, and Morningstar Ventures. Several notable funds, including Genesis Block Ventures, Divergence, Genblock Capital, CMS Holdings, PANONY, and Skynet Trading, participated in the round. Meanwhile, angel investors, such as Sam Kazemian from Frax Finance, Leo Cheng from CREAM, Santiago R Santos, and Chris McCann, were also present.

BridgeTowerCap, Solana form $20M Investment Fund

BridgeTower Capital – A private-equity firm that invests in blockchain infrastructure projects, forming a $20 million fund with the Solana Foundation to develop the blockchain network in the European Union, U.K., and Switzerland. It takes equity stakes & tokens in projects designed to develop the Solana. 

Partnership 

SOLife NFT x Alves Ventures

SOLife NFT – A PlayToEarn, NFT strategy game on Solana blockchain, announces partnership with Alves Ventures – a VC firm that promotes the wide-scale adoption of ground-breaking projects.

Bocachica x Allbridge

Allbridge is a simple, modern, and reliable way to transfer assets between blockchains become the first IDO on Boca Chica – A new Cutting-edge IDO platform on Solana. It will happen on September 21st. Details about the launch will be revealed soon!

Basics Capital x Project Seed Game

ProjectSEED aims to revolutionize the mobile gaming industry to a new level by implementing blockchain technology & introducing Play-to-earn.

Raydium Protocol x Cyber Samurai NFT

Cyber Samurai NFT will be the first NFT project to launch on DropZone on Sep 16. Cyber Samurai – DeFi-themed, Cyberpunk-inspired Samurai. Stay tuned for more details revealed soon!

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Source : bscdaily

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