Top DeFi coins on Solana

Marinade is a liquid staking protocol on Solana that allows users to invest SOL and receive mSol in return. mSOL is a liquid asset. Holders can earn staking rewards, and have enough liquidity to participate in other DeFi activities. The project’s goal is to help users maximize their staking returns. Marinade is currently the second-highest Solana-based project by TVL. 

MNDE, the project’s native token, plays a significant role within the network. It enables holders to vote on protocol upgrades and changes, ensuring true decentralization. MNDE is one of the top Solana coins to invest in. In addition, we expect the token to grow in value given Marinade’s role within Solana’s DeFi market. Marinade helps improve capital efficiency and user flexibility, making it a good DeFi protocol. The project’s liquid staking helps reduce opportunity cost of staking, enabling more users to stake their SOL. As Solana continues to grow, we expect Marinade to capture much of the DeFi market.

Raydium (RAY) is one of the top decentralized exchange (DEX) and automated market makers on Solana. Their edge? Fast and low-cost  transactions. Raydium plays a huge role in the Solana DeFi space. Its native token, RAY, is a governance token and is also used for staking, and rewards. Raydium’s presence on Solana offers benefits such as high-throughput and low latency. This way, users can easily access DeFi more efficiently. Raydium offers liquidity and yield farming, encouraging more users to provide liquidity which is needed for a good DeFi ecosystem. The project’s integration with Serum DEX improves transaction speed and shared liquidity. 

Orca is a user-friendly Solana-based DEX. It is known for its easy-to-grasp interface and functioning as an effective automated market maker on Solana. ORCA, the project’s native token is a utility token, used for governance, liquidity mining and trading fee discounts. Orca is very significant to the DeFi space. It leverages Solana’s high speed and low cost to offer an intuitive experience, making it suitable for  all forms of users, experienced and novices. This way, it helps onboard more users to Solana’s DeFi. In addition, Orca offers a couple of services such as token swaps and appealing yield farming opportunities. So, Orca is pretty valuable for providing liquidity and strengthening Solana’s growth. 

Solend is one of the top decentralized lending protocols on Solana. The project aims to offer low transactions at high speed.  There’s a huge demand for Solend within Solana, giving potential to its native token, SLND. Solend enables users to deposit assets and earn interests or borrow against their collateral. Furthermore, SLND is a governance token, meaning holders can vote on network decisions. SLND can also be staked for rewards. However, the token’s potential lies in its ability to drive user engagement. Interestingly, Marinade Finance’s liquid staking solution further improves Solends. When users stake their SOL for mSOL, they can use their mSOL for  staking and borrowing activities on Solend. This collaboration further strengthens Solana’s DeFi ecosystem, ensuring solid liquidity. 

Mango Markets is a decentralized Solana-based trading platform that provides advanced trading services such as cross-margin trading, lending, perpetual futures and spot trading. The project brands itself as the “easiest way to margin trade any pair. All powered by flashloans.” The project’s MNGO token provides governance rights, liquidity incentives and staking opportunities. Mango Market’s biggest appeal is  that it blends both CeFi and DeFi features to offer a unique experience. The platform aims to operate for both market takers and market makers. In addition, Mango Markets integrates with other Solana-based DeFi platforms 

Serum is a decentralized exchange and a liquidity infrastructure platform built on Solana. It leverages Solana’s infrastructure to offer fast, low-cost transactions. Its SRM native token is used to offer staking rewards, reduced trading fees and governance rights. Serum uses an on-chain order book model, making it different from other DEXs that rely on AMMs. This means Serum can offer more flexibility, better price discovery and efficiency. Serum is highly significant in DeFi as it allows other applications to build on its infrastructure. Serum also supports cross-chain trading. 

Jito is a Solana-based protocol that focuses on high speed  and efficient trading. It uses an AMM system to reduce transaction latency and improve trade execution time. Jito’s design offers minimal slippage and maximized returns. Its native token, JITO, is used to incentivize participants and validators. Jito’s ability to maximize validators rewards while reducing MEV( Maximum Extractable Value) exploitation makes it a top DeFi protocol. Jito prevents MEV attacks such as front running, making trading safer for users. 

Drift Protocol is a Solana-based derivatives trading platform. It provides advanced trading features such as perpetual swaps with high leverage. Drift Protocol uses a dynamic AMM model which features adjustment mechanisms in the trading pool. It also creates a buying and selling platform that caters to investor needs. Drift relies on Solana’s high-throughput to provide a reliable trading experience. One of the Drift’s Protocol’s appeal is that it minimizes price slippage. Drift has a TVL of over $350 million, making it one of Solana’s top derivatives platforms. In addition, the DRIFT token plays  a huge role within the platform. It is used for fee reduction, governance, and staking. Drift’s significance in DeFi lies in its ability to offer advanced trading instruments in a decentralized way. So, it caters to the needs of advanced trading and also boosts market liquidity. 

Marginfi is a Solana-based DEX that provides margin trading services. It enables users to borrow assets and trade with leverage. Marginfi enables traders to boost their trading positions with borrowed funds, helping them manage risks and increase their returns. It leverages Solana’s infrastructure to provide cheap fees and fast transactions which is important for margin trading. The protocol’s liquid staking token, LST, plays a huge role within the network. It is part of the protocol’s risk management system. So, you stake your SOL and in return receive a tokenized version of your staked SOL called LST. LST differs from traditional staked tokens. There  are no commission fees or income fees from validators. This means they receive the full amount of their staking rewards. Marginfi’s focus on risk management makes it a good option for people seeking exposure to Solana’s DeFi market. 

Saber is a top DEX and AMM protocol that focuses on stablecoins and wrapped asset swaps. Users can deposit their assets into a Saber liquidity pool to earn passive yield from transaction fees. Saber’s focus on facilitating token swaps is important for maintaining stability and liquidity in the ecosystem. It is ideal for users seeking exposure to DeFi with low volatility. The project’s SBR token plays a huge role. It offers incentives to users, and governance rights. Investing in this project makes sense as stablecoins continue to grow in DeFi. 

Tulip Protocol is the first yield aggregation platform on Solana. Tulip seeks to make yield farming more lucrative, enabling users to make the most of their crypto holdings. Tulip Protocol stands out in DeFi as it provides efficient and automated yield farming strategies. It also prioritizes fast transactions, leveraging Solana’s design. The TULIP token provides governance rights and other opportunities.