3 days ago
After the euphoric highs of Q2, fear and doubt have crept back into crypto markets in recent months.
Amidst the uncertainty Solana’s DeFi ecosystem has shed layers of TVL (Total Value Locked), with the majority of protocol’s losing between 13-18% in USD value on a monthly time frame.
However, despite the market-wide pullback, outperformers have emerged. Which protocols created a liquidity vacuum and expanded their TVL despite ailing markets?
NX FINANCE, LULO LEAD MONTHLY TVL GROWTH
Solana’s DeFi scene has enjoyed newfound momentum and attention throughout 2024. However, the last 30 days indicate a charge in sentiment, with the bulk of Solana protocols suffering significant drops in their TVL.
Despite challenging conditions, several outliers have outperformed the wider market and witnessed continued growth in the face of adversity.
Lending aggregator NX Finance led the charge, enjoying consistent growth in the face of difficult markets. Courtesy of its incentivized rewards program, NX Finance TVL rose 65% in the last 30 days, leading Solana’s top 50 DeFi applications by TVL.
Meanwhile, fellow lending aggregator Lulo Finance continued to rise through the ranks, securing over $30M in Directed Liquidity (DL). With over 92% of its DL, a similar metric similar to TVL, held in stablecoins, Lulo-managed value has increased by 32.27% in the last 30 days.
At first glance, DeFiLlama data suggests that Jupiter’s TVL has risen by 47.22% in the last 30 days. However, this increase is due to the popular analytics platform integrating $jupSOL into Jupiter’s total TVL on August 16, adding approximately $300M worth of funds to the platform.
According to Step Finance data, $jupSOL supply has risen 0.36% in the last 30 days. Coupled with the 2.22% decline in Jupiter perpetual TVL in the same time period, it can be concluded that Jupiter’s total TVL has remained relatively stable in the face of challenging market conditions.
Kamino TVL Climbs Despite Falling Prices
Kamino Finance has been one of Solana DeFi’s most solid performers throughout Q3’s volatility. While lending aggregators like NX Finance and Lulo predominantly hold stablecoins, making them more resilient to market downturn, Kamino accepts deposits from a wider range of more volatile assets.
Despite falling asset prices across the industry, Kamino has emerged as one of Solana’s standout DeFi protocols.
While $SOL price has dropped over 36% since its March 18 high of $202 , Kamino TVL has increased by 12% in USD terms. Denominated in SOL, Kamino TVL has risen by 76% in the same time frame.
JUPITER DOMINATES PERPETUAL TVL ACROSS THE INDUSTRY
Jupiter’s perpetual DEX platform shows no sign of relinquishing its iron grip on derivatives dominance. One of Solana’s largest DeFi protocols, Jupiter’s perpetual DEX is currently the largest onchain derivatives market in the crypto industry.
Boasting over $657M in TVL, Jupiter dominates perpetual market share. According to DeFiLlama data, the Solana-based platform currently accounts for 18.82% of onchain derivatives TVL across the industry.
While Jupiter boasts the highest TVL across all perpetual DEXes, its closest rival still witnesses higher trading volumes. During August, Hyperliquid handled $34 .6B in trading volume compared to Jupiter’s $15 .1B. It’s worth noting that Hyperliquid’s high volume could attributed to its points program, which is expected to influence token allocations ahead of the protocol’s upcoming airdrop
Amidst the uncertainty Solana’s DeFi ecosystem has shed layers of TVL (Total Value Locked), with the majority of protocol’s losing between 13-18% in USD value on a monthly time frame.
However, despite the market-wide pullback, outperformers have emerged. Which protocols created a liquidity vacuum and expanded their TVL despite ailing markets?
NX FINANCE, LULO LEAD MONTHLY TVL GROWTH
Solana’s DeFi scene has enjoyed newfound momentum and attention throughout 2024. However, the last 30 days indicate a charge in sentiment, with the bulk of Solana protocols suffering significant drops in their TVL.
Despite challenging conditions, several outliers have outperformed the wider market and witnessed continued growth in the face of adversity.
Lending aggregator NX Finance led the charge, enjoying consistent growth in the face of difficult markets. Courtesy of its incentivized rewards program, NX Finance TVL rose 65% in the last 30 days, leading Solana’s top 50 DeFi applications by TVL.
Meanwhile, fellow lending aggregator Lulo Finance continued to rise through the ranks, securing over $30M in Directed Liquidity (DL). With over 92% of its DL, a similar metric similar to TVL, held in stablecoins, Lulo-managed value has increased by 32.27% in the last 30 days.
At first glance, DeFiLlama data suggests that Jupiter’s TVL has risen by 47.22% in the last 30 days. However, this increase is due to the popular analytics platform integrating $jupSOL into Jupiter’s total TVL on August 16, adding approximately $300M worth of funds to the platform.
According to Step Finance data, $jupSOL supply has risen 0.36% in the last 30 days. Coupled with the 2.22% decline in Jupiter perpetual TVL in the same time period, it can be concluded that Jupiter’s total TVL has remained relatively stable in the face of challenging market conditions.
Kamino TVL Climbs Despite Falling Prices
Kamino Finance has been one of Solana DeFi’s most solid performers throughout Q3’s volatility. While lending aggregators like NX Finance and Lulo predominantly hold stablecoins, making them more resilient to market downturn, Kamino accepts deposits from a wider range of more volatile assets.
Despite falling asset prices across the industry, Kamino has emerged as one of Solana’s standout DeFi protocols.
While $SOL price has dropped over 36% since its March 18 high of $202 , Kamino TVL has increased by 12% in USD terms. Denominated in SOL, Kamino TVL has risen by 76% in the same time frame.
JUPITER DOMINATES PERPETUAL TVL ACROSS THE INDUSTRY
Jupiter’s perpetual DEX platform shows no sign of relinquishing its iron grip on derivatives dominance. One of Solana’s largest DeFi protocols, Jupiter’s perpetual DEX is currently the largest onchain derivatives market in the crypto industry.
Boasting over $657M in TVL, Jupiter dominates perpetual market share. According to DeFiLlama data, the Solana-based platform currently accounts for 18.82% of onchain derivatives TVL across the industry.
While Jupiter boasts the highest TVL across all perpetual DEXes, its closest rival still witnesses higher trading volumes. During August, Hyperliquid handled $34 .6B in trading volume compared to Jupiter’s $15 .1B. It’s worth noting that Hyperliquid’s high volume could attributed to its points program, which is expected to influence token allocations ahead of the protocol’s upcoming airdrop
6 days ago
Magic Eden, Solana’s leading NFT marketplace by trading volume, has surprised network participants with an unexpected announcement.
On September 5, the crypto juggernaut revealed it would be splitting its trading platform into two separate sites, Magic Eden International and Magic Eden US.
The move has drawn skepticism from the wider community, who speculate that the regulatory landscape in the U.S. could impact user eligibility for Magic Eden’s highly-anticipated airdrop.
MAGIC EDEN'S U.S. USERS FEAR AIRDROP EXCLUSION
In the official announcement, Magic Eden posited that the U.S. site “will still have great products you know and love while .IO [the international site] will give us the ability to cook up (and sauté) even more features…”, suggesting that the U.S. platform will offer a limited range of services compared to its international equivalent.
Magic Eden users have expressed concerns that these limitations could extend to airdrop eligibility. Throughout the year, Solana users based in the United States have frequently found themselves unable to claim tokens due to geographic restrictions.
Due to regulatory concerns and the ongoing scrutiny of the SEC (Securities and Exchanges Commission), many crypto projects, like Sanctum and Grass, avoid distributing airdropped tokens to U.S. users.
Regulatory clarity around NFTs and digital assets were further exacerbated in late August, when the SEC issued a Wells notice to OpenSea, an alternative NFT marketplace.
Claiming that the platform facilitated the sale of unregistered securities, the notice serves as a preliminary warning and often precedes formal legal action.
In what could be considered a tongue-in-cheek gag, the official Magic Eden 𝕏 account also added a playful line to it’s bio, stipulating that “Tweets are only for non US Residents”.
SolanaFloor engaged the Magic Eden Foundation for clarity sounding the airdrop eligibility of its U.S. users. At press time, the Magic Eden Foundation declined to respond.
$ME TRADES AT.20 DESPITE LACK OF TOKENOMIC CLARITY
Since the initial announcement of the Magic Eden airdrop, pre-market trading for $ME has witnessed volatility. After opening at.08 on August 28, $ME pre-market prices rose as high as.24 before stabilizing at.20.
Despite attracting over $700 ,000 in trading volume, pre-market trading platform Whales Market has been criticized for opening a market for a coin with an unknown supply.
Without any publicly revealed tokenomics, pre-market traders are speculating on $ME at unknown valuations, which could lead to significant losses for participants.
COINGECKO NAMES MAGIC EDEN CRYPTO’S LARGEST NFT MARKETPLACE
Despite 2024’s NFT market suffering challenging conditions and diminishing volumes throughout the year, Magic Eden has managed to reassert its position as the industry’s top marketplace.
Coingecko, a popular cryptocurrency analysis site, recently declared Magic Eden as 2024’s top NFT marketplace. Boasting 36.7% market share, much of Magic Eden’s success this year could be credited to its adoption of the Bitcoin ecosystem, including its integration of Ordinals, BRC-20 tokens, and Runes.
On September 5, the crypto juggernaut revealed it would be splitting its trading platform into two separate sites, Magic Eden International and Magic Eden US.
The move has drawn skepticism from the wider community, who speculate that the regulatory landscape in the U.S. could impact user eligibility for Magic Eden’s highly-anticipated airdrop.
MAGIC EDEN'S U.S. USERS FEAR AIRDROP EXCLUSION
In the official announcement, Magic Eden posited that the U.S. site “will still have great products you know and love while .IO [the international site] will give us the ability to cook up (and sauté) even more features…”, suggesting that the U.S. platform will offer a limited range of services compared to its international equivalent.
Magic Eden users have expressed concerns that these limitations could extend to airdrop eligibility. Throughout the year, Solana users based in the United States have frequently found themselves unable to claim tokens due to geographic restrictions.
Due to regulatory concerns and the ongoing scrutiny of the SEC (Securities and Exchanges Commission), many crypto projects, like Sanctum and Grass, avoid distributing airdropped tokens to U.S. users.
Regulatory clarity around NFTs and digital assets were further exacerbated in late August, when the SEC issued a Wells notice to OpenSea, an alternative NFT marketplace.
Claiming that the platform facilitated the sale of unregistered securities, the notice serves as a preliminary warning and often precedes formal legal action.
In what could be considered a tongue-in-cheek gag, the official Magic Eden 𝕏 account also added a playful line to it’s bio, stipulating that “Tweets are only for non US Residents”.
SolanaFloor engaged the Magic Eden Foundation for clarity sounding the airdrop eligibility of its U.S. users. At press time, the Magic Eden Foundation declined to respond.
$ME TRADES AT.20 DESPITE LACK OF TOKENOMIC CLARITY
Since the initial announcement of the Magic Eden airdrop, pre-market trading for $ME has witnessed volatility. After opening at.08 on August 28, $ME pre-market prices rose as high as.24 before stabilizing at.20.
Despite attracting over $700 ,000 in trading volume, pre-market trading platform Whales Market has been criticized for opening a market for a coin with an unknown supply.
Without any publicly revealed tokenomics, pre-market traders are speculating on $ME at unknown valuations, which could lead to significant losses for participants.
COINGECKO NAMES MAGIC EDEN CRYPTO’S LARGEST NFT MARKETPLACE
Despite 2024’s NFT market suffering challenging conditions and diminishing volumes throughout the year, Magic Eden has managed to reassert its position as the industry’s top marketplace.
Coingecko, a popular cryptocurrency analysis site, recently declared Magic Eden as 2024’s top NFT marketplace. Boasting 36.7% market share, much of Magic Eden’s success this year could be credited to its adoption of the Bitcoin ecosystem, including its integration of Ordinals, BRC-20 tokens, and Runes.
16 days ago
Daily Memecoin Recap - August 26
Volume is scattered across $sol & $trx
A Social Experiment
$cabal -> hit $910k , good concept, 10 KOLs were airdropped 2% supply each to see who would dump and who would hold
Youtube Dog
$sdog -> hit $600k , "The first meme coin fully built on top of youtube video"
Vibes Gains Traction
$vibes -> $803k to $8 .4m (10.4x), blknoiz06 tweeted about it, seeing it all over the timeline
So Much Higher
$smh -> hit $2 .8m, bundled, a lot of KOLs on board, experienced team
Sol Payments In GTA 6
$krill -> hit $440k , CTO
- A leak came out
- The leak says that GTA 6 will have an in game currency "skrilla", which will allow users to directly transact with other plays
- The leak claims that it will be powered by the top 10 cryptocurrencies
More Cooks
$deebo -> $180k to $790k (4.4x), "Deebo the Bear", CTO
$degh -> $63k to $630k (10x), redacted dog meme
$dp -> hit $1 .3m, "Daquavious Pork", CTO, based on viral tiktok videos
$euphoria -> hit $550k
$3dog -> hit $545k , "3D Dog"
$sicko -> hit $370k , "Sicko Mode", cat meme
$perro -> hit $325k , dog meme
Did you cook? 🍜
Volume is scattered across $sol & $trx
A Social Experiment
$cabal -> hit $910k , good concept, 10 KOLs were airdropped 2% supply each to see who would dump and who would hold
Youtube Dog
$sdog -> hit $600k , "The first meme coin fully built on top of youtube video"
Vibes Gains Traction
$vibes -> $803k to $8 .4m (10.4x), blknoiz06 tweeted about it, seeing it all over the timeline
So Much Higher
$smh -> hit $2 .8m, bundled, a lot of KOLs on board, experienced team
Sol Payments In GTA 6
$krill -> hit $440k , CTO
- A leak came out
- The leak says that GTA 6 will have an in game currency "skrilla", which will allow users to directly transact with other plays
- The leak claims that it will be powered by the top 10 cryptocurrencies
More Cooks
$deebo -> $180k to $790k (4.4x), "Deebo the Bear", CTO
$degh -> $63k to $630k (10x), redacted dog meme
$dp -> hit $1 .3m, "Daquavious Pork", CTO, based on viral tiktok videos
$euphoria -> hit $550k
$3dog -> hit $545k , "3D Dog"
$sicko -> hit $370k , "Sicko Mode", cat meme
$perro -> hit $325k , dog meme
Did you cook? 🍜
17 days ago
🏅¡Bienvenidos a La 🎮 Crypto Guarida 🎮!
Donde la pasión por las criptomonedas y el conocimiento se encuentran para llevarte a lo más alto del universo cripto.
🔍 Explora y descubre con nosotros:
🔥Proyectos Cripto Emergentes.
🔥Tokens y Memecoins en Tendencias.
🔥 Airdrops Gratis y Exclusivos.
🔥 Tutoriales Prácticos para Todos los Niveles.
🔥 Entrevistas con los CEOS más Influyentes (AMAs).
🔥 Sorteos en USDT para la Comunidad.
🔥 Juegos Web 3 Increíbles.
🔥 Narrativas que Definen el Futuro Cripto.
🔥 Estrategias de Trading para Maximizar tus Inversiones.
🎗 ¡Únete a nuestras redes sociales ahora mismo haciendo clic aquí abajo! Sumérgete en el fascinante mundo de las criptomonedas y lleva tus conocimientos al siguiente nivel. 🪬
🏅Telegram chat: https://t.me/Cryptoguarida...
🏅Ads channel: https://t.me/GuaridaAnunci...
🏅CryptoguardidaTwitter: https://twitter.com/Crypto...
Donde la pasión por las criptomonedas y el conocimiento se encuentran para llevarte a lo más alto del universo cripto.
🔍 Explora y descubre con nosotros:
🔥Proyectos Cripto Emergentes.
🔥Tokens y Memecoins en Tendencias.
🔥 Airdrops Gratis y Exclusivos.
🔥 Tutoriales Prácticos para Todos los Niveles.
🔥 Entrevistas con los CEOS más Influyentes (AMAs).
🔥 Sorteos en USDT para la Comunidad.
🔥 Juegos Web 3 Increíbles.
🔥 Narrativas que Definen el Futuro Cripto.
🔥 Estrategias de Trading para Maximizar tus Inversiones.
🎗 ¡Únete a nuestras redes sociales ahora mismo haciendo clic aquí abajo! Sumérgete en el fascinante mundo de las criptomonedas y lleva tus conocimientos al siguiente nivel. 🪬
🏅Telegram chat: https://t.me/Cryptoguarida...
🏅Ads channel: https://t.me/GuaridaAnunci...
🏅CryptoguardidaTwitter: https://twitter.com/Crypto...
17 days ago
XNET airdrop for top Solana communities is now live.
Eligible users, including Bonk lockers, Mad Lads holders, 'Saga Genesis' DAO members, and others, can claim their airdrop.
Eligible users, including Bonk lockers, Mad Lads holders, 'Saga Genesis' DAO members, and others, can claim their airdrop.
22 days ago
🚨 New Game Alert! 🚨
$TEMI presents “Temi the Flyer” 🎮—a Telegram game with an online leaderboard and Web3 integration!
Top players will be rewarded in Ready to take flight? 🕹️
Drop your SOL wallet address and start playing for a chance to win big! 💸
Let’s see who’s got what it takes! 🥇
Game link - t.me/Temiflybot
#TEMI #CryptoGaming #PlayToEarn #Web3 #Solana #airdrop
$TEMI presents “Temi the Flyer” 🎮—a Telegram game with an online leaderboard and Web3 integration!
Top players will be rewarded in Ready to take flight? 🕹️
Drop your SOL wallet address and start playing for a chance to win big! 💸
Let’s see who’s got what it takes! 🥇
Game link - t.me/Temiflybot
#TEMI #CryptoGaming #PlayToEarn #Web3 #Solana #airdrop
24 days ago
After weeks of eager anticipation, Lavarage has finally launched its generous rewards program. Offering DeFi traders a more efficient way of navigating onchain markets, Lavarage adds a new dimension to permissionless margin trading by leveraging spot assets, rather than the synthetic perpetual assets used across the Solana ecosystem.
With the launch of Tephra, the protocol’s dynamic points program, Lavarage brings renewed enthusiasm to Solana’s margin markets and re-stokes the flames ahead of a future airdrop.
THE TEPHRA POINTS SYSTEM - MISSION 1 NOW LIVE
Rewarding dedicated traders and community members alike, the Tephra points system aims to provide fair opportunities for all ‘Lavanauts’. By using the Lavarage trading platform and engaging in community-building activities, Lavanauts earn Tephras, which will be directly correlated to an eventual airdrop.
Users earn Tephras every time they execute an action in the Lavarage platform. Whether you’re opening positions, paying interest on borrowed assets, or staking SOL for lstSOL (Lavarage’s native liquidi staking token), users are actively earning Tephras. The team has also hinted that users can boost Tephra generation by holding Lava Rock Alpha NFTs.
Profitable traders stand to generate even more rewards. Encouraging skilled traders to use the platform, points are also being distributed based on the profitability of individual trades. Making point generation accessible to those with smaller wallets, Tephras can also be earned through community-building activities.
Adding an additional layer of intrigue to the Tephra program, Lavarage proposes diversified missions. With each mission lasting two weeks, the Lavarage team will adapt rewards based on the protocol’s strategic goals. While this keeps the rewards program dynamic, it also works as a countermeasure against bots and airdrop farmers seeking to game the system.
Mission 1 is currently live. Lavarage users can easily track their Tephra points tally through the app. Lavarage’s earliest users and supporters can now verify rewards accumulated during the ‘OG Mission’.
WHAT IS LAVARAGE?
Designed to improve capital efficiency in DeFi trading and boasting a streamlined user experience, Lavarage offers a creative approach to margin trading on Solana. Unlike the network’s vast range of perpetual DEXes, Lavarage contracts use spot assets.
This means that the platform offers more accurate pricing and liquidity than perpetual markets and allows traders to buy and sell the underlying assets.
Lavarage usage has erupted in recent weeks. Since the end of June, the platform has facilitated over 5,000 spot-margin positions at an average leverage of 3x. Boasting over 500 assets, Lavarage has attracted over 1,000 unique users with a retention rate of over 60%.
Beyond trading, Lavarage also manages to provide generous yield to its liquidity providers. According to the platform, SOL stakers have earned over 40% APY through Lavarage since the protocol’s inception.
WHAT'S NEXT?
With the Tephra points program officially underway, the Lavarage team has hinted that the upcoming TGE “might not be too far off”.
Regardless, Tephra is expected to boost the platform’s growing user base and volume, helping Lavarage grow towards becoming a key player in Solana’s flourishing DeFi Landscape.
With the launch of Tephra, the protocol’s dynamic points program, Lavarage brings renewed enthusiasm to Solana’s margin markets and re-stokes the flames ahead of a future airdrop.
THE TEPHRA POINTS SYSTEM - MISSION 1 NOW LIVE
Rewarding dedicated traders and community members alike, the Tephra points system aims to provide fair opportunities for all ‘Lavanauts’. By using the Lavarage trading platform and engaging in community-building activities, Lavanauts earn Tephras, which will be directly correlated to an eventual airdrop.
Users earn Tephras every time they execute an action in the Lavarage platform. Whether you’re opening positions, paying interest on borrowed assets, or staking SOL for lstSOL (Lavarage’s native liquidi staking token), users are actively earning Tephras. The team has also hinted that users can boost Tephra generation by holding Lava Rock Alpha NFTs.
Profitable traders stand to generate even more rewards. Encouraging skilled traders to use the platform, points are also being distributed based on the profitability of individual trades. Making point generation accessible to those with smaller wallets, Tephras can also be earned through community-building activities.
Adding an additional layer of intrigue to the Tephra program, Lavarage proposes diversified missions. With each mission lasting two weeks, the Lavarage team will adapt rewards based on the protocol’s strategic goals. While this keeps the rewards program dynamic, it also works as a countermeasure against bots and airdrop farmers seeking to game the system.
Mission 1 is currently live. Lavarage users can easily track their Tephra points tally through the app. Lavarage’s earliest users and supporters can now verify rewards accumulated during the ‘OG Mission’.
WHAT IS LAVARAGE?
Designed to improve capital efficiency in DeFi trading and boasting a streamlined user experience, Lavarage offers a creative approach to margin trading on Solana. Unlike the network’s vast range of perpetual DEXes, Lavarage contracts use spot assets.
This means that the platform offers more accurate pricing and liquidity than perpetual markets and allows traders to buy and sell the underlying assets.
Lavarage usage has erupted in recent weeks. Since the end of June, the platform has facilitated over 5,000 spot-margin positions at an average leverage of 3x. Boasting over 500 assets, Lavarage has attracted over 1,000 unique users with a retention rate of over 60%.
Beyond trading, Lavarage also manages to provide generous yield to its liquidity providers. According to the platform, SOL stakers have earned over 40% APY through Lavarage since the protocol’s inception.
WHAT'S NEXT?
With the Tephra points program officially underway, the Lavarage team has hinted that the upcoming TGE “might not be too far off”.
Regardless, Tephra is expected to boost the platform’s growing user base and volume, helping Lavarage grow towards becoming a key player in Solana’s flourishing DeFi Landscape.
27 days ago
Buying the dip … when will there be another airdrop??
Listing on CoinMarketCap???
Listing on CoinMarketCap???
1 month ago
BridgeFinance airdrop checker is now live.
👉Total of 491,000 users eligible for the Airdrop.
👉The top 10% from the points leaderboard will receive 76% of the total airdrop allocation.
👉6% of the total DBR supply is allocated for Season 1 participants.
👉Total of 491,000 users eligible for the Airdrop.
👉The top 10% from the points leaderboard will receive 76% of the total airdrop allocation.
👉6% of the total DBR supply is allocated for Season 1 participants.
1 month ago
Solana SIM announces an airdrop for solana mobile. Each Saga and Chapter 2 user can now claim a free Solana travel sim.
Others can claim a 1-month free coupon.
Others can claim a 1-month free coupon.
1 month ago
After years of development behind the scenes, the Paladin team is finally showing its hand. Proposing a more egalitarian approach to MEV rewards, Paladin aims to discourage MEV frontrunners and provide an alternative that is more profitable for everyone.
With MEV bots reportedly extracting millions from Solana DEX markets every month, Paladin might just be the knight in shining armor that Solana DeFi needs.
Fully decentralized, open-source, and permissionless, Paladin’s mission is to eliminate predatory MEV on Solana. But how does it work?
THE PALADIN BOT
Designed to run within the Jito client, the Paladin bot is a fast open-source arbitrage bot. It runs locally in a validator and only operates when that particular validator is the leader.
The Paladin bot relies on three distinct features to improve a validator’s APY (Annual Percentage Yield):
- Atomic Arb Bot - Not to be confused with a frontrunning sandwich bot, Paladin is a high-performance arbitrage bot that is faster than external searchers.
- CeFi/DeFi Arb - Leveraging a permissionless DeFi bulletin board that communicates directly with slot leaders, Paladin is able to capture MEV through CeFi/DeFi price discrepancies.
- PALAggregator - Running exclusively within the leader, Paladin bot knows with certainty the exact price of every asset in real time. The bot can use this advantage to find a better path on trades and share the surplus rewards with the wallet that executed the transaction.
Essentially, the Paladin bot is a powerful tool that is altruistically employed to benefit and incentivize honest validator behavior.
To reap the benefits of Paladin, validators need to operate the Paladin bot, which in turn rewards holders and stakers of the protocol's native token, PAL.
PALADIN REWARD DYNAMICS - THE PAL TOKEN
Breaking the trend of providing speculative governance tokens, Paladin has opted for a more tangible token economy driven genuine value accrual.
PAL, the protocol’s native token, serves as the means by which MEV rewards are distributed to stakers and validators running the Paladin Bot, or ‘Palidators’.
MEV rewards captured by Palidators are distributed as follows:
- 90% is returned to the leader
- 5% is directed to Palidators and their stakers, proportionate to the amount of SOL staked
- 5% is passed to PAL token holders. However, given that 50% is airdropped to validators and PAL stakers, unstaked PAL holders receive 2.5%
While PAL is not a governance token, it does play a crucial role in the ecosystem outside of reward distribution. If Palidators are believed to be operating dishonestly, PAL stakers can vote to slash that Palidator’s stake, burning its PAL.
The protocol aims to distribute MEV rewards among honest ecosystem contributors in a way that everyone wins, as opposed to a competitive scramble for larger pieces of the MEV pie.
Despite a relatively muted social presence, the Paladin launch is generating excitement behind closed doors. In an exclusive statement with SolanaFloor, Paladin representative Uri Klarman revealed that “8% of Solana stake have committed to being a launch partner and run Paladin ahead of the launch.”
Additionally, the protocol has plenty of resources to encourage continued development and expansion from ecosystem developers.
According to Klarman, a budget of $5M per year has been committed to continued development, meaning that ecosystem developers may be sufficiently inspired to expand Paladin beyond the Jito client to Firedancer and any subsequent clients in the future.
Paladin’s unique approach to MEV and reward distribution acknowledges that it’s impossible to prevent validators from frontrunning transactions. However, should the Paladin protocol prove successful, its reward structure would be a more economical alternative, hopefully making Solana an efficient DeFi ecosystem for all users.
With MEV bots reportedly extracting millions from Solana DEX markets every month, Paladin might just be the knight in shining armor that Solana DeFi needs.
Fully decentralized, open-source, and permissionless, Paladin’s mission is to eliminate predatory MEV on Solana. But how does it work?
THE PALADIN BOT
Designed to run within the Jito client, the Paladin bot is a fast open-source arbitrage bot. It runs locally in a validator and only operates when that particular validator is the leader.
The Paladin bot relies on three distinct features to improve a validator’s APY (Annual Percentage Yield):
- Atomic Arb Bot - Not to be confused with a frontrunning sandwich bot, Paladin is a high-performance arbitrage bot that is faster than external searchers.
- CeFi/DeFi Arb - Leveraging a permissionless DeFi bulletin board that communicates directly with slot leaders, Paladin is able to capture MEV through CeFi/DeFi price discrepancies.
- PALAggregator - Running exclusively within the leader, Paladin bot knows with certainty the exact price of every asset in real time. The bot can use this advantage to find a better path on trades and share the surplus rewards with the wallet that executed the transaction.
Essentially, the Paladin bot is a powerful tool that is altruistically employed to benefit and incentivize honest validator behavior.
To reap the benefits of Paladin, validators need to operate the Paladin bot, which in turn rewards holders and stakers of the protocol's native token, PAL.
PALADIN REWARD DYNAMICS - THE PAL TOKEN
Breaking the trend of providing speculative governance tokens, Paladin has opted for a more tangible token economy driven genuine value accrual.
PAL, the protocol’s native token, serves as the means by which MEV rewards are distributed to stakers and validators running the Paladin Bot, or ‘Palidators’.
MEV rewards captured by Palidators are distributed as follows:
- 90% is returned to the leader
- 5% is directed to Palidators and their stakers, proportionate to the amount of SOL staked
- 5% is passed to PAL token holders. However, given that 50% is airdropped to validators and PAL stakers, unstaked PAL holders receive 2.5%
While PAL is not a governance token, it does play a crucial role in the ecosystem outside of reward distribution. If Palidators are believed to be operating dishonestly, PAL stakers can vote to slash that Palidator’s stake, burning its PAL.
The protocol aims to distribute MEV rewards among honest ecosystem contributors in a way that everyone wins, as opposed to a competitive scramble for larger pieces of the MEV pie.
Despite a relatively muted social presence, the Paladin launch is generating excitement behind closed doors. In an exclusive statement with SolanaFloor, Paladin representative Uri Klarman revealed that “8% of Solana stake have committed to being a launch partner and run Paladin ahead of the launch.”
Additionally, the protocol has plenty of resources to encourage continued development and expansion from ecosystem developers.
According to Klarman, a budget of $5M per year has been committed to continued development, meaning that ecosystem developers may be sufficiently inspired to expand Paladin beyond the Jito client to Firedancer and any subsequent clients in the future.
Paladin’s unique approach to MEV and reward distribution acknowledges that it’s impossible to prevent validators from frontrunning transactions. However, should the Paladin protocol prove successful, its reward structure would be a more economical alternative, hopefully making Solana an efficient DeFi ecosystem for all users.
1 month ago
Looking for the top farms you need to prioritize this month? We've got you covered 🫡
In this guide, we’re exploring the five airdrop hunts that we think are the best and biggest opportunities, a list that including syrupfi
🍁
Explore all 5 hunts now:
🔗 http://bankless.cc/5Hunts
In this guide, we’re exploring the five airdrop hunts that we think are the best and biggest opportunities, a list that including syrupfi
🍁
Explore all 5 hunts now:
🔗 http://bankless.cc/5Hunts
The Biggest Crypto Airdrop Opportunities of August 2024 | Bankless
We’re exploring five airdrop hunts that we think are the highest-value opportunities to focus on this month as you explore new investments.
http://bankless.cc/5Hunts
1 month ago
🔥🚀 NEW BOT FOR SOLANA-SHITCOINS WITH AIRDROP💸
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A new bot has been launched today for shitcoin traiding on SOLANA: @hexnova " target="_blank" class="inline-link">https://mevx.io/ @hexnova
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• Сopytrading
• Very fast transactions
• Comfortable interface
• Airdrop leaderboard with Points
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Complete tasks and trade on platform for earn AIRDROP-POINTS:
@hexnova " target="_blank" class="inline-link">https://mevx.io/ @hexnova
🚀 Good deals, everybody! 💗
---
A new bot has been launched today for shitcoin traiding on SOLANA: @hexnova " target="_blank" class="inline-link">https://mevx.io/ @hexnova
---
• Сopytrading
• Very fast transactions
• Comfortable interface
• Airdrop leaderboard with Points
---
Complete tasks and trade on platform for earn AIRDROP-POINTS:
@hexnova " target="_blank" class="inline-link">https://mevx.io/ @hexnova
🚀 Good deals, everybody! 💗
1 month ago
Jupiter airdrop concludes, 639,109 addresses claim tokens, $800 million worth of $JUP distributed, 33.1% unclaimed.
The $JUP airdrop by Jupiter, a leading Decentralized Exchange (DEX) aggregator on Solana, has successfully concluded. Launched on January 31st, 2024, it was the largest airdrop in Solana's history.
The airdrop aimed to distribute 1 billion $JUP tokens to 955,000 wallets that had previously interacted with Jupiter. The claim deadline was set for July 31st, 2024. while a substantial number of users participated, over 300,000 eligible addresses failed to claim their tokens.
The $JUP airdrop by Jupiter, a leading Decentralized Exchange (DEX) aggregator on Solana, has successfully concluded. Launched on January 31st, 2024, it was the largest airdrop in Solana's history.
The airdrop aimed to distribute 1 billion $JUP tokens to 955,000 wallets that had previously interacted with Jupiter. The claim deadline was set for July 31st, 2024. while a substantial number of users participated, over 300,000 eligible addresses failed to claim their tokens.
1 month ago
Neon, an Ethereum Virtual Machine on solana, launches Season 1 rewards claim with utility NFT drops and airdrops.
1 month ago
Solana’s vast staking ecosystem continues to offer a generous bounty of rewards and utilities. The network’s burgeoning DeFi activity has amplified blockchain revenue, flipping Ethereum in yet another key metric.
Meanwhile, the consistent growth of Solana LSTs (Liquid Staking Token) appears to be plateauing, with net LST flows turning negative on weekly and monthly timeframes.
SOLANA FLIPS ETHEREUM ON REVENUE GENERATION
Off the back of a massive month of DeFi trading activity, Solana’s network revenue has surpassed Ethereum’s on a daily timeframe.
According to Artemis data, Solana has slowly closed the gap on Ethereum in terms of revenue generation before finally surging past its biggest rival. On July 28th, the Solana network generated over $1 .2M in revenue, lending credibility to the network’s economic model.
This is good news for Solana validator operators and stakers. Not only does surging revenue translate to greater earnings for stakers, Solana’s increasing transaction counts also burn SOL tokens. Burning 50% of every transaction fee, this mechanism helps to counter SOL issuance and inflation, building a more sustainable token economy.
SOL TOKEN BURNS
Based on the last seven days of Dune Analytics data, the Solana token burn mechanism has burnt 38,145 SOL, currently valued at over $6 .92M. Despite burning over 5,000 SOL per day, the Solana network still issues just over 160,000 SOL through validator rewards.
LIQUID STAKING FLOUNDERS
Solana’s thriving liquid staking economy has enjoyed immense growth throughout the year. However, the TVL (Total Value Locked) of liquid-staked SOL has dropped over the last 30 days, signaling that interest in LST assets has plateaued.
According to Dune Analytics data, the total number of SOL staked through LSTs reduced by over 128k in the last 30 days, with 42.41% (45,411 SOL) of that figure being withdrawn in the last 7 days.
This decrease is likely due to the withdrawal of capital from Sanctum’s popular LST ecosystem, which attracted over $1B in TVL from depositors in anticipation of Sanctum’s initial CLOUD airdrop.
In a bid to attract more liquid stakers to their validator, Jupiter implemented a dramatic change in their fee structure. On July 22nd, Jupiter announced that 80% of block rewards would go to jupSOL, increased from 50%.
Meanwhile, Step Finance launched another addition to its growing ecosystem. In collaboration with Sanctum, Step Finance unveiled its proprietary LST, stepSOL, which provides holders with STEP reward options on top of all the existing benefits of liquid-staked assets.
THE RETURN OF NATIVE STAKING??
With attention shifting away from LSTs, this may be an excellent opportunity for the Solana community to explore native staking. While not offering the flexibility of liquid staking, native staking provides greater security and peace of mind for SOL stakers.
One of the longest-serving DeFi protocols in the ecosystem, Marinade Finance offers one of Solana’s most powerful staking services. Optimized to provide stakers with the best possible staking rewards across an aggregated pool of leading validators, Marinade offers Solana’s only automated non-custodial staking tool.
What’s more, novel features like Marinade’s Stake Auction Marketplace and Protected Staking Rewards ensure users maximum rewards, while benefitting from the inherent security of native staking.
At press time, Marinade Finance is Solana’s most popular staking provider, attracting over 147k unique accounts. Offering comprehensive support for Solana staking, Marinade has attracted over $1 .4B in TVL, with 32.15% of this figure directed to native staking according to Dune Analytics.
Between Solana’s explosive revenue generation and the vast range of staking products available in the ecosystem through projects like Marinade, there’s never been a better time to stake SOL.
Meanwhile, the consistent growth of Solana LSTs (Liquid Staking Token) appears to be plateauing, with net LST flows turning negative on weekly and monthly timeframes.
SOLANA FLIPS ETHEREUM ON REVENUE GENERATION
Off the back of a massive month of DeFi trading activity, Solana’s network revenue has surpassed Ethereum’s on a daily timeframe.
According to Artemis data, Solana has slowly closed the gap on Ethereum in terms of revenue generation before finally surging past its biggest rival. On July 28th, the Solana network generated over $1 .2M in revenue, lending credibility to the network’s economic model.
This is good news for Solana validator operators and stakers. Not only does surging revenue translate to greater earnings for stakers, Solana’s increasing transaction counts also burn SOL tokens. Burning 50% of every transaction fee, this mechanism helps to counter SOL issuance and inflation, building a more sustainable token economy.
SOL TOKEN BURNS
Based on the last seven days of Dune Analytics data, the Solana token burn mechanism has burnt 38,145 SOL, currently valued at over $6 .92M. Despite burning over 5,000 SOL per day, the Solana network still issues just over 160,000 SOL through validator rewards.
LIQUID STAKING FLOUNDERS
Solana’s thriving liquid staking economy has enjoyed immense growth throughout the year. However, the TVL (Total Value Locked) of liquid-staked SOL has dropped over the last 30 days, signaling that interest in LST assets has plateaued.
According to Dune Analytics data, the total number of SOL staked through LSTs reduced by over 128k in the last 30 days, with 42.41% (45,411 SOL) of that figure being withdrawn in the last 7 days.
This decrease is likely due to the withdrawal of capital from Sanctum’s popular LST ecosystem, which attracted over $1B in TVL from depositors in anticipation of Sanctum’s initial CLOUD airdrop.
In a bid to attract more liquid stakers to their validator, Jupiter implemented a dramatic change in their fee structure. On July 22nd, Jupiter announced that 80% of block rewards would go to jupSOL, increased from 50%.
Meanwhile, Step Finance launched another addition to its growing ecosystem. In collaboration with Sanctum, Step Finance unveiled its proprietary LST, stepSOL, which provides holders with STEP reward options on top of all the existing benefits of liquid-staked assets.
THE RETURN OF NATIVE STAKING??
With attention shifting away from LSTs, this may be an excellent opportunity for the Solana community to explore native staking. While not offering the flexibility of liquid staking, native staking provides greater security and peace of mind for SOL stakers.
One of the longest-serving DeFi protocols in the ecosystem, Marinade Finance offers one of Solana’s most powerful staking services. Optimized to provide stakers with the best possible staking rewards across an aggregated pool of leading validators, Marinade offers Solana’s only automated non-custodial staking tool.
What’s more, novel features like Marinade’s Stake Auction Marketplace and Protected Staking Rewards ensure users maximum rewards, while benefitting from the inherent security of native staking.
At press time, Marinade Finance is Solana’s most popular staking provider, attracting over 147k unique accounts. Offering comprehensive support for Solana staking, Marinade has attracted over $1 .4B in TVL, with 32.15% of this figure directed to native staking according to Dune Analytics.
Between Solana’s explosive revenue generation and the vast range of staking products available in the ecosystem through projects like Marinade, there’s never been a better time to stake SOL.
2 months ago
Solana-based space game Star Atlas plans to airdrop 2.5 million crew members to current Ship Holders on August 9th.
Snapshot of Ship Holders will be taken on August 8th.
Snapshot of Ship Holders will be taken on August 8th.
2 months ago
With the network’s perpetual trading platforms notching all-time highs in TVL (Total Value Locked) and daily trading volume, Solana summer is in full swing.
Despite the belief that mercenary capital and airdrop farmers were generating artificial volume in Solana’s perpetual scene, trading appetite has returned in full force.
Since January 1st, Solana perpetual exchange TVL is up 447%. Which DeFi apps are leading the charge?
Jupiter Records All-Time High in TVL and Trading Volume.
Despite the belief that mercenary capital and airdrop farmers were generating artificial volume in Solana’s perpetual scene, trading appetite has returned in full force.
Since January 1st, Solana perpetual exchange TVL is up 447%. Which DeFi apps are leading the charge?
Jupiter Records All-Time High in TVL and Trading Volume.
2 months ago
Join this link banana airdrop free 1 banana token equivalent to $60 per banana token
https://banana-drop.com/?r...
https://banana-drop.com/?r...
2 months ago
Get free banana token equivalent to $60 one banana token....now listed in Binance to be eligible for the airdrop distribution. Aug 01, 2024 is the distribution.
https://banana-drop.com/?r...
https://banana-drop.com/?r...
2 months ago
A few hours ago we conducted our first random user rewards initiative! Random holders of over 1M $MIM were airdropped 17,940 $MIM ($9.73 at time of writing)!
These rewards come from our Orca LP and the amount of recipients and amount of $MIM will only increase as volume rises! Get your 1M now to become eligible for next months wave!
These rewards come from our Orca LP and the amount of recipients and amount of $MIM will only increase as volume rises! Get your 1M now to become eligible for next months wave!
2 months ago
🪂 After $DOGS and $CATS , a new project surfs the meta of the telegram users airdrop, $PEPES 🐸
➡️ https://t.me/TONPEPES_BOT
You never know 🤷♂️
➡️ https://t.me/TONPEPES_BOT
You never know 🤷♂️
2 months ago
How to start restaking on symbioticfi
A 101 Explainer 👇
EigenLayer changed the game by introducing the restaking primitive to the Ethereum ecosystem, yet it was only a matter of time until challengers rose up and started trying to beat EigenLayer at its own game!
The big challenger making a big splash lately is Symbiotic, a new restaking protocol that aims to offer restakers more options beyond just ETH.
What Is Symbiotic?
Launched in June 2024, Symbiotic is a shared security protocol for network builders to create and manage their own staking implementations in a permissionless fashion.
In other words, Symbiotic lets networks customize their staking processes, collateral types, node operator selection, rewards, and slashing mechanisms, all while maintaining security through non-upgradeable core contracts on Ethereum.
Notably, Symbiotic is already the second-largest restaking protocol behind only EigenLayer. Yet unlike EigenLayer, which is centered around ETH, Symbiotic offers a wide array of collateral options for more flexibility.
How Does Symbiotic Work?
Symbiotic operates through the coordination of its five main pillars. These elements are as follows:
🪙 Collateral — The onchain assets used to provide economic security in Symbiotic. These can include ERC20 tokens, Ethereum validator withdrawal credentials, and other assets across various blockchains.
🛅 Vaults — These customizable components act as Symbiotic’s delegation and restaking layer. They handle deposits, withdrawals, slashings, and reward distributions.
🦸 Operators — The entities that run infrastructure for networks, such as validators and sequencers. Operators can opt into networks and receive economic backing from restakers through vaults.
⛑️ Resolvers — These are the entities or smart contracts tasked with passing or vetoing slashing penalties incurred by operators. They ensure penalties are fairly arbitrated.
Why Symbiotic?
It makes sense that there won’t just be one winner in the restaking category. And among the field of contenders, Symbiotic currently looks like the protocol best positioned to give EigenLayer a run for its money in the months ahead.
That said, if you’re generally bullish on restaking, then Symbiotic is a project to consider because it’s early, promising, and has plenty of potential to grow with its differentiation via ERC-20 support.
Of course, a Symbiotic airdrop is also a likelihood not to be ignored. EigenLayer has $EIGEN , and it seems inevitable that the Symbiotic Points system will be used to go a similar route in facilitating an airdrop of a native token to early users. Restake now; get paid later.
Lastly, there are some interesting Symbiotic integrations live today that offer double-whammy earning opportunities. One is
mellowprotocol, a liquid restaking token (LRT) project offering Mellow Points and Symbiotic Points to users who deposit into Symbiotic through its platform.
How to Restake on Symbiotic
If you’re interested in restaking on Symbiotic, head over to https://app.symbiotic.fi/r... and connect your wallet. Note that some regions are geo-blocked from accessing the front end.
On the main “Restaking” page, you’ll see the list of vaults for offer like the one in the picture below. Note that some vaults, like the Wrapped Lido Staked Ether (wstETH) one, have currently reached their temporary deposit limits, while other vaults, e.g., Coinbase Wrapped Staked Ether (cbETH), are still open for depositors.
So let’s say you have some cbETH, and you want to start staking. Simply click on the cbETH vault, which will take you to an interface like this:
By WPeaster ✍️
A 101 Explainer 👇
EigenLayer changed the game by introducing the restaking primitive to the Ethereum ecosystem, yet it was only a matter of time until challengers rose up and started trying to beat EigenLayer at its own game!
The big challenger making a big splash lately is Symbiotic, a new restaking protocol that aims to offer restakers more options beyond just ETH.
What Is Symbiotic?
Launched in June 2024, Symbiotic is a shared security protocol for network builders to create and manage their own staking implementations in a permissionless fashion.
In other words, Symbiotic lets networks customize their staking processes, collateral types, node operator selection, rewards, and slashing mechanisms, all while maintaining security through non-upgradeable core contracts on Ethereum.
Notably, Symbiotic is already the second-largest restaking protocol behind only EigenLayer. Yet unlike EigenLayer, which is centered around ETH, Symbiotic offers a wide array of collateral options for more flexibility.
How Does Symbiotic Work?
Symbiotic operates through the coordination of its five main pillars. These elements are as follows:
🪙 Collateral — The onchain assets used to provide economic security in Symbiotic. These can include ERC20 tokens, Ethereum validator withdrawal credentials, and other assets across various blockchains.
🛅 Vaults — These customizable components act as Symbiotic’s delegation and restaking layer. They handle deposits, withdrawals, slashings, and reward distributions.
🦸 Operators — The entities that run infrastructure for networks, such as validators and sequencers. Operators can opt into networks and receive economic backing from restakers through vaults.
⛑️ Resolvers — These are the entities or smart contracts tasked with passing or vetoing slashing penalties incurred by operators. They ensure penalties are fairly arbitrated.
Why Symbiotic?
It makes sense that there won’t just be one winner in the restaking category. And among the field of contenders, Symbiotic currently looks like the protocol best positioned to give EigenLayer a run for its money in the months ahead.
That said, if you’re generally bullish on restaking, then Symbiotic is a project to consider because it’s early, promising, and has plenty of potential to grow with its differentiation via ERC-20 support.
Of course, a Symbiotic airdrop is also a likelihood not to be ignored. EigenLayer has $EIGEN , and it seems inevitable that the Symbiotic Points system will be used to go a similar route in facilitating an airdrop of a native token to early users. Restake now; get paid later.
Lastly, there are some interesting Symbiotic integrations live today that offer double-whammy earning opportunities. One is
mellowprotocol, a liquid restaking token (LRT) project offering Mellow Points and Symbiotic Points to users who deposit into Symbiotic through its platform.
How to Restake on Symbiotic
If you’re interested in restaking on Symbiotic, head over to https://app.symbiotic.fi/r... and connect your wallet. Note that some regions are geo-blocked from accessing the front end.
On the main “Restaking” page, you’ll see the list of vaults for offer like the one in the picture below. Note that some vaults, like the Wrapped Lido Staked Ether (wstETH) one, have currently reached their temporary deposit limits, while other vaults, e.g., Coinbase Wrapped Staked Ether (cbETH), are still open for depositors.
So let’s say you have some cbETH, and you want to start staking. Simply click on the cbETH vault, which will take you to an interface like this:
By WPeaster ✍️
