Talk about the SOL ecosystem

Solana is a high-performance public chain founded by former engineers from Qualcomm, Intel and Dropbox in late 2017. Its core features are scalability, decentralization and low cost. Let's take a closer look at the main projects of the Solana ecosystem:

1. JTO

JTO currently has a circulation market value of $370 million and a unit price of $3. It has been listed on Coinbase Pro and led by Multicoin. JTO aims to solve the problems of liquidity pledge and maximum extractable value in the Solana ecosystem, similar to Ethereum's LSDfi, and brings more value to users by staking SOL.

2. JUP

JUP has a circulation market value of $1.422 billion and a current price of $1.042. As the aggregated decentralized exchange (DEX) of the Solana ecosystem, JUP is the DeFi leader of the ecosystem, benchmarking Ethereum's Uniswap. JUP's advantages lie in innovative mechanisms such as timed cost averaging, cross-chain services and perpetual transactions, which improve the user experience.

3. RAY

RAY is also a decentralized exchange in the Solana ecosystem, but it uses an automated market maker (AMM) mechanism to enhance liquidity. The current market value is $644 million, slightly lower than JUP. Although JUP is stronger in data, RAY has a lower market value and a stronger trend, and the two are competitors.

4. PYTH

PYTH is an oracle project. The network consists of three parts: data providers, Python protocols, and data users. The data provider is the exchange. The Python protocol aggregates data from different providers and creates a unified price and confidence interval for each price source every 400 milliseconds. The data user is an application based on the Pyth blockchain, which uses this data for smart contract operations.

5. MEME coins: BOME and WIF

As MEME coins, BOME and WIF do not have much fundamentals to analyze and are mainly driven by the market.

At present, RAY and JTO are more optimistic. Although PYTH and JUP also have great potential, they are less concerned considering their large market capitalization. In addition, except for those in the MEME track, these eco-coins have a common shortcoming, that is, more than 50% of the tokens have not yet been unlocked, and the large-scale unlocking time is basically concentrated in the first half of 2025. This requires special attention.