Solana

Lido DAO

Raydium

Crowny

Quantum

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 <p class="is-style-lead">Solana is known for its efficiency and scalability. It operates as a layer-1 protocol, allowing the processing of thousands of transactions per second while minimizing fees. This feature addresses the challenges that other blockchain protocols face.&nbsp;</p>
 <p>In 2022, SOL, Solana’s native currency, had a turbulent year due to external factors. However, it has rebounded, rising by 500%. Currently, over 70% of all circulating SOL are staked.</p>
 <h2 class="wp-block-heading" id="strong-focus-on-solana-in-2024-strong"><strong>Focus on Solana in 2024</strong></h2>
 <p>Solana’s commitment to high-throughput, low-latency transactions highlights its significance in 2024.&nbsp;</p>
 <p>Its architecture has attracted diverse projects, including decentralized finance (defi) and non-fungible tokens (NFTs). This year, Solana is expected to achieve significant breakthroughs within its ecosystem.&nbsp;</p>
 <p>It’s an opportune time to explore some of the top <a rel="noopener noreferrer nofollow" title="projects" href="https://thebittimes.com/tag/projects.html">projects</a> on Solana that are redefining decentralized technologies.&nbsp;</p>
 <p>The below projects showcase Solana’s versatility and role as a catalyst for broader adoption of decentralized technology.</p>
 <h2 class="wp-block-heading" id="strong-1-crowny-crwny-strong"><strong>1. Crowny (CRWNY)</strong></h2>
 <p>Crowny&nbsp;is a web3 loyalty and rewards platform that onboards businesses through e-commerce plugins (e.g., Shopify) and directly onboards their users.&nbsp;</p>
 <p>Users can use Crowny’s native app to earn loyalty points and CRWNY for interacting, purchasing, and engaging with their favorite brands.&nbsp;</p>
 <p>The platform launched in 2021 and was one of the first movers on Solana, receiving early grants from leading <a rel="noopener noreferrer nofollow" title="ecosystem" href="https://thebittimes.com/tag/ecosystem.html">ecosystem</a> participants.&nbsp;</p>
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 <p>Crowny has untapped potential use cases for web3, such as loyalty and SocialFi, which can benefit both B2B and B2C efforts.&nbsp;</p>
 <p>The fully vested CRWNY, currently with a market cap of $4m, has a real utility that helps businesses quickly reach their fans and achieve more through their loyalty solution without the hassle of dealing with crypto.</p>
 <h2 class="wp-block-heading" id="strong-2-jito-strong"><strong>2. JITO</strong></h2>
 <p>As one of Solana’s leading Solana MEV infrastructure providers and liquid staking option,&nbsp;JITO&nbsp;has nearly 6 million staked SOL, over 34,000 holders, 77 validators, and an APY of 6.71%.&nbsp;</p>
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 <p>JITO is a platform that allows SOL holders to earn a yield on their assets while maintaining flexibility. Users can access liquidity on their staked SOL and use it in defi while controlling their funds completely.&nbsp;</p>
 <p>Compared to Ethereum, liquid staking on Solana is relatively tiny.&nbsp;</p>
 <h2 class="wp-block-heading" id="strong-3-raydium-ray-strong"><strong>3. Raydium (RAY)</strong></h2>
 <p>Raydium, one of the leading defi protocols on Solana, recently announced the launch of Raydium V3 open-beta, an optimized dapp for speed and efficiency.&nbsp;</p>
 <p>Raydium’s trading volume has been rising in sync with expanding SOL prices, pointing to growing demand for decentralized exchanges (DEXs).&nbsp;</p>
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 <p>The platform also has one of the highest total value locked (TVL) on Solana, putting it ahead of competitors such as Jupiter, which has announced airdrop campaigns.&nbsp;</p>
 <p>Raydium V3 has improved user flows and enhanced tooling, reflecting the company’s commitment to setting new standards in defi.&nbsp;</p>
 <h2 class="wp-block-heading" id="strong-4-solana-fm-strong"><strong>4. Solana FM</strong></h2>
 <p>Solana FM&nbsp;aims to redefine the Solana <a rel="noopener noreferrer nofollow" title="exploration" href="https://thebittimes.com/tag/exploration.html">exploration</a> experience via a user-friendly interface.&nbsp;</p>
 <p>The platform recently announced the upcoming launch of Quantum, a new explorer with an improved interface. Quantum promises to eliminate the frustration of clunky Solana transactions, manual search entries, and endless scrolling.&nbsp;</p>
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 <p>Early Access slots will allow users to experience features firsthand, reflecting Solana FM’s user-centric approach to exploration on Solana.&nbsp;</p>
 <h2 class="wp-block-heading" id="strong-5-genesysgo-shdw-strong"><strong>5. GenesysGo (SHDW)</strong></h2>
 <p>GenesysGo&nbsp;provides blockchain developers and operators with a secure infrastructure to enhance performance. It utilizes shdwDrive and the SHDW utility token.</p>
 <p>The platform and underlying smart contract network aim to expand Solana’s infrastructure while increasing decentralization and censorship resistance.</p>
 <p>Their live testnet, D.A.G.G.E.R., focuses on marketing and improved visibility. In 2024, it, shdwDrive, and the SHDW will feature at crypto events.</p>
 <p>The activation of shdwDrive and D.A.G.G.E.R.’s multi-chain capabilities is crucial for the <a rel="noopener noreferrer nofollow" title="project" href="https://thebittimes.com/tag/project.html">project</a>. shdwDrive’s chain-agnostic design broadens its data storage services to users on various chains, while D.A.G.G.E.R. takes on roles as an Oracle network and a Wormhole.&nbsp;</p>
 <p>The cross-chain liquidity integration with SHDW’s tokenomics can increase the token’s utility.&nbsp;</p>
 <p>The introduction of Auditor Nodes, powered exclusively by mobile devices, allows users to earn SHDW by using smartphones to solve mathematical proofs, transforming them into mobile mining rigs.&nbsp;</p>
 <p>This concept provides a pathway for individuals to join the SHDW <a rel="noopener noreferrer nofollow" title="ecosystem" href="https://thebittimes.com/tag/ecosystem.html">ecosystem</a>. The approach positions D.A.G.G.E.R. and shdwDrive as pioneers in functionality and inclusivity in the blockchain.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-ecosystem-projects-for-exploration-in-2024-tbt71317.html">https://thebittimes.com/solana-ecosystem-projects-for-exploration-in-2024-tbt71317.html</a></p>

Solana ecosystem projects for exploration in 2024

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