Decentralized applications that build on the blockchain are also referred to as dApps. These include blockchain-based games, NFT marketplaces, financial platforms, decentralized exchanges, etc. Solana is one of the most robust platforms for dApps, with a broad ecosystem of hundreds of applications spanning thousands of users. This article looks at Solana’s seven most popular dApps for April 2022, ranked by 30-day user activity, lowest to highest.
#7 Solend – 17.18k
Launched in June 2021, Solend, as the name suggests, is a Solana-based lending protocol. It allows anyone with an internet connection to take out secured loans against their Solana assets. It features low fees and a lightning-fast protocol that opens up a world of possibilities.
Solend describes itself as an autonomous interest engine for lending on Solana, and users can connect to the platform via the Solana Phantom wallet to start lending and generate income.
Some of the most popular cryptocurrencies that can be lent on Solend include SLND, SOL, USDC, USDT and UST.
Solend also features its native token SLND, which offers the highest Supply APY of over 18% and a Borrow APY of 178%. SLND’s fully diluted market cap is $181 million with a 24-hour trading volume of $154,000.
If you are interested in earning interest, borrowing, long or short leverage on Solana, we recommend checking out Solend and its platform.
#6 Sun Art – 24.54k
Launched in July 2021, Solanart is a premier NFT marketplace on Solana. It offers thousands of collections with over 690,000 sales since its inception. The total trading volume for the platform is over 5 million SOL (roughly $500 million at the time of writing) which speaks to the type of volume the marketplace offers.
Along with its great collections, Solanart offers a launchpad for those who want to buy NFTs before they hit the market.
Most of the projects that appear on Solanart’s Launchpad are sold out, so those interested will most likely have to try and snoop on them.
The collections on Solanart are calculated in SOL and users can connect through the Phantom Web3 wallet to explore the different NFTs. Some of the best collections of all time on Solanart include Degenerate Ape Academy, Aurory, SolPunks and Galactic Gecko Space Garage.
#5 Knowledge – 27.5k
Launching in June 2021, Saber is a decentralized exchange and automated market maker built on top of Solana. It features a user interface similar to the popular Uniswap and PancakeSwap DEXs of the Ethereum and BNB chains. It is one of Solana’s most popular decentralized exchanges with over 27,000 users in the last month.
At the time of writing, Saber has a 24-hour trading volume of $55.9 million with a total locked value of $334 million.
Some of the highest volume pools on the exchange are USDT-USDC, UST-USDC, stSOL-SOL and mSOL-SOL. As you can see, Saber is a popular choice for betting your stablecoins and earning significant rewards for providing liquidity to the market.
Saber also has its primary token, SBR, a governance asset. At the time of writing, SBR has a market cap of $21.1 million with a 24-hour trading volume of $1.7 million.
You can buy SBR on Gate.io, Kraken, Gemini, MEXC, LBank, Raydium, LATOKEN and more.
#4 MeanFi – 73.43k
MeanFi launches in September 2021 and describes itself as an easy-to-use Web3 app for everyday DeFi banking. It has a dApp that encompasses multiple services in its ecosystem. MeanFi consists of a block explorer, decentralized exchange, lightning-fast transfers, staking platform, and more.
MeanFi’s decentralized exchange offers over 100 smart routes optimized for the best prices, fees and slippage, providing users with the cheapest transactions on the market. It offers instant liquidity and thousands of daily cash flows moving payroll and remittances worldwide.
One way to think of MeanFi is the Solana-based version of 1inch Network, a DeFi aggregator that provides the best routes for exchanging digital assets on the blockchain.
MeanFi is one of Solana’s most popular DeFi services with over 73,000 contributors. It also includes MEAN’s proprietary Solana-based asset, which has a fully diluted market cap of $79 million and a 24-hour trading volume of $253,000 at the time of writing.
#3 Raydium – 143.37k
Launched in February 2021, Raydium is a premier Solana exchange that offers top-tier liquidity, lightning-fast swaps, and hassle-free yield farming.
At the time of writing, Raydium has a 24-hour trading volume of $37.9 million with a TVL (Total Value Locked) of $639 million.
Raydium can be compared to primary decentralized exchanges like Uniswap (Ethereum) and PancakeSwap (BNB chain). Raydium also has its token RAY that users can get for mining liquidity on the platform. RAY has a market cap of $237 million with a 24-hour trading volume of $21.2 million.
You can buy RAY on Binance, FTX, Kraken, Gate.io, Raydium, Gemini, etc.
#2 Magic Eden – 252.82k
Launched in September 2021, Magic Eden is a leading NFT marketplace built on top of Solana. It is one of the most popular dApps in the Solana ecosystem, being the second most used in the last thirty days with over 250,000 users.
Magic Eden offers some of the best NFT collections out there, and if you haven’t already, read this article for the top five most popular NFT collections in Solana’s Magic Eden.
As of this writing, Magic Eden has a 24-hour trading volume of over 283,000 SOL (US$28.3 million) and a total trading volume of over 12.1 million SOL (US$1.2 billion), reflecting the large-scale operation of Magic Eden speaks.
In addition to an NFT marketplace, Magic Eden offers auctions and a drop calendar for those looking to bid on newly released NFTs for unique collectibles or to make a hefty profit.
Last but not least, Magic Eden also offers the Magic DAO, which requires a Magic Ticket that can be purchased on the platform. The price of a Normie Magic ticket is currently 0.38 SOL (about $38 at the time of writing).
To explore the Magic Eden NFT marketplace and its ecosystem, we recommend connecting to the Phantom Web3 wallet, the primary wallet for Solana. If you are not familiar with the platform, we recommend giving it a try as it is one of the best performing NFT cryptocurrency marketplaces.
#1 Orca – 322.26k
Launched in August 2021, Orca is Solana’s most popular decentralized exchange. Its slogan is “The DEX for people, not for programs”.
Orca is the leading decentralized exchange on Solana and offers a unique service called Whirlpool that achieves greater capital efficiency by concentrating liquidity in a specific price range. Some of the most popular pools in Orca hot tubs are SOL/USDC (155% APR), USDC/USDT (16% APR) and SOL/stSOL (46% APR).
If you are looking for a DeFi platform to stake SOL and stablecoins on, Orca has one of the most competitive liquidity farm rates. It has a total locked value of over $17 million with a 24-hour volume of $26 million as of writing.
Orca also offers its native digital asset, ORCA, with a current market cap of $37 million and a 24-hour trading volume of $1.7 million.
If you want to get your SOL and USDC up and running, Orca is a grossly underrated platform that we recommend. The impressive 155% APR for the SOL/USDC pool is one of the most competitive rates in cryptocurrency.
You can buy ORCA on Coinbase Exchange, Gate.io, Kraken, MEXC, Raydium, Orca, Bitget, Poloniex and more.
Disclosure: This is not trading or investment advice. Always do your research before buying cryptocurrencies or using any service.
Data source: Dapp Radar
Also read:
Top 5 Move-to-Earn Cryptocoins You Should Watch in April 2022
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