2021 is an explosive year for Solana in all areas. This is considered an important milestone for both the Crypto market in general and the financial market in particular as it continues to have explosive development marks and attract the attention of many investors around the world!
I believe that each brother who reads this article will have memorable moments with Solana during their one year relationship.
1. Strong expansion in Solana ecosystem
In just one year, the Solana ecosystem has completely changed, the number of projects that have been developing has grown rapidly. From just a few projects at the beginning of the year, by the end of the year, Solana has had hundreds of projects developed. That number of projects covers many fields and especially focuses on the DeFi and NFT arm.
Solana’s ecosystem in March
Solana’s ecosystem in December
2. Solana’s Memorable Milestones
Along with that strong expansion, Solana also achieved many impressive milestones in turn. Important indicators showing the growth rate of the ecosystem such as the number of developers, the number of transactions processed, etc. also create new peaks in turn.
3. Solana’s important events in 2021
Solana has experienced many events from large to small in 2021, in which the most prominent events contributing to large growth waves include:
Organize events to help expand and improve product quality in the ecosystem including 3 hackathons (Solana x Serum Hackathon, Solana Season, Solana Ignition) and 1 offline event (Solana breakpoint).
Attracting large investment cash flows into the ecosystem, notably Solana Labs raised $314 million.
NFT season comes to Solana, NFT projects grow strongly and market capitalization surpasses 1 billion USD.
The number of stablecoins issued on Solana increased sharply.
4. The growth of tokens in the Solana system
With the strong expansion of the Solana system, the price of SOL tokens in particular and other tokens in general has had a very good growth.
When compared to other smart contract platforms, SOL is the top performing token. The price of the SOL token has increased by more than 131 times, an extremely impressive number.
DeFi is the most focused branch on Solana. With low cost and instant processing time, Solana is an ideal environment for users or projects to continuously rotate assets to help optimize capital and bring in more attractive profits.
1. Stablecoins issued on Solana
Stablecoins are DeFi’s gateway, from the growth rate of the number of stablecoins issued, we can partly infer the growth rate in the ecosystem.
In just 1 year, the total supply of USDC on Solana exceeded 15% of the total supply of USDC in the entire market and reached $4.79 billion, USDT also reached $1.89 billion.
2. DeFi puzzle pieces on Solana
From a DeFi ecosystem with few products, Solana has completed most of the core pieces of DeFi. Not only that, the ecosystem also attracts a large number of real developers as leading projects gradually have satellite projects developed above, thereby helping to optimize yield and experience. experience for users.
Besides DeFi, NFT is also the branch with great growth. NFT projects emerged as a phenomenon and attracted a large number of users and new cash flows. Currently, the total capitalization of NFTs on Solana is stabilizing at over $1.1 billion. However, most of the value is only concentrated in the top projects among many NFT projects on Solana.
NFT now, in addition to just holding normally, can be used to access many functions of DeFi projects, make in-game items and many other potential use cases.
With low cost and high speed, Solana is the ideal environment to attract new users. And NFT is the portal to help new users access Crypto in general and Solana in particular.
As I said above, DeFi is one of the most focused branches on Solana. DeFi on Solana currently has not only stopped at basic branches like AMM, Lending but they have developed at a higher level.
With the basic pieces of DeFi completed and the top projects already having many satellite projects developed on top, I think in 2022 DeFi cashflow projects on Solana will be consists of:
Higher layer projects such as: derivatives (trading perpetual contracts, margin, options, …) or assets managements/aggregator.
- The top projects have many sub-projects developed on top. Typical for such projects can be mentioned Serum or Saber. These are not just regular projects but also a platform to develop other projects and will almost certainly attract the most value.
In addition to DeFi, NFT is also an area that we need to pay attention to, NFT on Solana is gradually escaping the shadow of Ethereum. Instead of going in the direction of creating value collectibles, NFT on Solana is about developing more use cases. This is gradually creating new values and making the NFT land on Solana more potential than before.
In the process of following the system, I see NFT branches that are likely to thrive in the near future, including:
- Interactive NFT x DeFi: For example, Orca has NFT staking or other projects like Katana, Solrise, Drift that require NFT to be able to use the product. The opportunity in this segment, I will focus on skin in the game, owning NFT from a project that does not have a token to receive an airdrop. Another way is to focus and invest in NFT of potential projects and have a roadmap for NFT application on products.
- Gaming: There is no denying the attraction of gaming on Solana. At the moment, although no big game has really been released, but with low cost and fast processing speed, this will be an opportunity for good game projects on Solana.
In addition to the two prominent branches above, the Solana system is also promoting the development of many other areas. Although it is still in its early stages, we should not ignore it. A few branches are gradually taking shape, such as Metaverse and Social projects, these are all branches that can easily attract new users with little knowledge of Crypto.