After Ethereum, if there’s one blockchain with a growing ecosystem, it is the Solana blockchain. Solana has successfully placed itself among the most admired layer1 chains by providing a friendly ecosystem that charges lower gas fees and offers the highest tps (65,000 transactions per second).
From DeFi to GameFi, its ecosystem is full of promising projects and today I am going to uncover the top 5 projects on Solana that hold massive potential. Backed by top VC firms, all of them have successfully closed IDO rounds. Let’s deep dive into each one of them.
1/ Today, the Solana Foundation released its first report on the health of the permissionless @Solana Validator Network. https://t.co/1jsylk9J3J
— Solana Foundation (@SolanaFndn) August 10, 2022
The report dives into the validator network and key metrics the Foundation tracks to assess its health.
🧵
Top 5 projects on Solana blockchain –
5) YOUR:
YOUR is the Wikipedia of product content. It’s one of a kind project that aims to connect users with top e-commerce companies and metaverse projects on its marketplace i.e YOURBUY. Companies like Alibaba & Amazon are always on the lookout for quality content to list products on their platforms. There’s an enormous cost and time involved in sourcing such high-quality content. In fact, there are limited players supplying the product content, hence unable to match the demand.
YOUR aims to bridge this gap by creating a decentralized platform that relies on user-generated content where users can create, own and earn from their content by uploading it on the marketplace as NFT (with NFT Fractionalization). By connecting the buyers and sellers, YOUR will sustain its business by charging just 1% commission from every transaction made on its platform.
YOUR is built around Contribute and Earn rewarding concept
YOUR Token:
YOUR is the native token of YOUR crypto project. It has the following utilities –
- YourContent Earnings
- YourBuy token Payments
- Staking
- Community Governance
- P2P Transactions
From rewarding users to becoming a payment currency, YOUR token has a lot of utilities that can easily push the price of the coin, once the ecosystem starts onboarding the necessary players. Moreover, token can be staked and used for community governance.
The total supply of YOUR token is capped at 1 billion
YOUR Investors & Partners:
YOUR is backed by 20 investors and partners. Genblock Capital, Solanium Ventures, DAO Maker are some of its investors and strategic partners.
Checkout our post on YOUR Crypto, covering in-depth details of the project
4) NOVA Finance:
DeFi is a growing space in the blockchain industry. It has numerous protocols offering unique features that can help grow the investor’s portfolio. Features like staking, farming etc allow users generate passive income with higher APY.
However, switching from one protocol to another is a cumbersome process. It demands in-depth knowledge of financial concepts and wider exposure to the blockchain industry. To solve this issue, we have NOVA Finance. NOVA is an asset management platform that allows users to maximize their earning potential by automating their portfolios.
NOVA values automation over education
It has a programmable asset framework which is used to design crypto portfolios that produce higher yields. Any user onboarding the platform can create or choose the portfolio designed by industry experts. NOVA has nAssets that are programmed to maximize returns.
NOVA Token:
NOVA is the native token of NOVA Finance. It serves as a governance token that allows token holders to create and vote on proposals. Moreover, it is also used to receive economic incentives when staked on the platform.
NOVA Finance Investors & Partners:
From Solana to Animoca Brands (owner of Sandbox crypto Metaverse), it has a range of investors and strategic partners backing the project.
Checkout our post on NOVA Finance, covering in-depth details of the project
3) Star Atlas Game:
Star Atlas is the most anticipated blockchain game of the decade. The gameplay is set in the year 2620 which revolves around three factions in the universe fighting for resources. The factions are MUD, ONI and USTUR. To play the game, a user has to choose any one of the three factions.
The team has launched the sale of its NFTs like ships, components etc and has a laid out plan to raise funds in 5 different phases. Powered by Unreal Engine 5, the game will feature high resolution and rich graphics. The only flipside that I found while reviewing the game was its extended launch schedule which will take another 5-8 years.
Start Altas is the first AAA grade blockchain game
ATLAS & POLIS Tokens:
Star Atlas has a dual token economy. ATLAS token is its in-game currency and POLIS token serves as a governance token. Players can purchase and sell in-game items like ships, and components using ATLAS tokens. The platform has an in-game marketplace to connect buyers and sellers.
Among the two, ATLAS is an inflationary token
Investors and partners:
Star Altas has successfully raised over $3 million in investment from Animoca brands. After the launch of its browser mini-game SCORE, it is all set to take the gaming experience to the next level.
Checkout our post on STAR ATLAS GAME, covering in-depth details of the project
2) SOLICE Metaverse:
Solice is the first decentralized VR metaverse on the Solana blockchain. Like Decentraland (MANA), it is a place where users can play, build, socialize, own and monetize their virtual assets. Focused on building a player-centric ecosystem, the metaverse offers a range of products for gameplay development.
To make things interesting, it has lands, pets, gemstones, dungeons and a marketplace but the main attraction is the feature of immersive staking. Landowners can stake tokens on the purchased land and earn more SLC in return. Moreover, Solice has announced the beginning of Solice Metaverse LAND Sale in 2022.
SLC Token:
SLC is the SPL token and the native currency of Solice metaverse. It will be the governance and economic token that will play a crucial role in driving the in-game economy and monetising the in-game assets. The token has already profited the early investors, giving 71X ROI to the IDO investors.
The total supply of SLC tokens is capped at 400 million
Investors & Partners:
Solice metaverse has solid investments and partnerships. It raised $4.6 million in seed funding from top investors i.e Animoca Brands, Three Arrow Capital and DeFiance Capital.
Checkout our post on Solice Crypto Metaverse, covering in-depth details of the project
1) StepN App:
Stepn is the first web3 app built around a healthy lifestyle. Based on the move-to-earn concept, it rewards every time a user walks, runs or jogs. To access the app, users need to purchase NFT sneakers with SOL tokens.
StepN has already gained a lot of traction and downloads on both android and iOS platforms. To maximize earnings, it is integrating new in-app features like renting and credit systems.
StepN ranked 4th in Solana Ignition Hackathon 2021
GST & GMT Tokens:
Like Star Atlas Game, StepN has a dual token economy. GST which stands for Green Satoshi Token is the in-app currency used to reward the players for their activity while GMT which stands for Green Metaverse Token is used for staking, governance, minting & upgrading NFT sneakers.
The majority share of GMT tokens i.e 60% is allocated for giveaways, ecosystem development and governance participation. Moreover, it has a user-friendly interface & in-app wallet. Using the app is similar to using any web2.0 app on a mobile device.
The total supply of GMT tokens is capped at 6 billion
Investors & Partners:
The project has raised $5 million seed round from top investors that include Sequoia Capital, Folis Ventures, Alameda research and many more. It has the fastest-growing Twitter account, amassing over 60K followers at the time of GMT IEO.
Checkout our post on STEPN App, covering in-depth details of the project
Upcoming Web3 Social Network on Solana:
Solcial is Solana based web3 social network in the making. It is the first permissionless, censorship-resistant web3 social network that rewards users for their work while promoting Freedom of speech, something that’s missing from the existing web2 social network like Facebook & Twitter.
Solcial will introduce DAO for decentralized governance which means all the decisions will be community driven without interference from the management or external authorities like government bodies which is again missing in Web2.
It is one of the potential projects on Solana that can blossom after the complete roll-out. Checkout Solcial on Solana.
Solana Coin Price:
Check the latest price of Solana SOL token –
This completes my review of the top 5 projects on the Solana blockchain. In the next post, I will talk about BreederDAO NFT Factory and Solcial network. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
DISCLAIMER:
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
[post_grid id=”6111″]
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.
