Solana

Solana

Validator Address:BH7asDZbKkTmT3UWiNfmMVRgQEEpXoVThGPmQfgWwDhg
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Status:Mainnet
Fee:5%
Uptime:99.9%

What is Solana?

Solana is a high-throughput blockchain that is currently supporting 50–65k transactions per second and 400ms block times, without complex solutions like sharding or layer-two. As the world’s first web-scale blockchain, Solana will unlock a whole new class of performant applications and facilitate larger scale blockchain adoption. Utilizing a revolutionary innovation called Proof of History, Solana is drastically able to outperform any other existing layer 1 and provide fees at $0.00001 per transaction.

What is SOL?

SOL is Solana’s native cryptocurrency, which works as a utility token. Users need SOL to pay transaction fees when making transfers or interacting with smart contract.

The network burns SOL as part of its deflationary model. Like Ethereum, Solana allows developers to build smart contracts and create projects based on the blockchain.

SOL uses the SPL protocol. SPL is the token standard of the Solana blockchain, similar to ERC20 on Ethereum. The SOL token has two main use cases:

  • Paying for transaction fees incurred when using the network or smart contracts.
  • Staking tokens as part of the Proof of Stake consensus mechanism.

Where to buy SOL?

You can buy SOL on a number of popular exchanges, including the world’s top exchange in terms of trading volume Binance. Also note, there is no minimum requirement to stake LUNA for delegators.

How to delegate SOL (staking)?

To stake SOL tokens, you must use a wallet that supports staking. Not all wallets support staking at this time.

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Is there min/max staking amount?

You can create as many stake accounts as you like, and deposit as much or as little SOL into each stake account as you want – no limitations.

When will I receive my first staking rewards?

Newly delegated tokens are considered “activating” or “warming up”, and are not eligible to earn rewards until they are fully activated. Hence, you need to wait till the next epoch to start earning rewards.

⏱️ However, your wait might be extended to 2 epochs (or about 4 days).

Is there an unbonding period?

Newly un-delegated tokens are considered “deactivating” or “cooling down” and are not able to be withdrawn until deactivated at the epoch boundary. Once the stake is deactivated, withdraw tokens to start using them again.

To know more about Solana’s ecosystem

👉 Website
👉 Twitter
👉 Community Channel
👉 Solana Forum

Solana Projects

The data provided here is not an endorsement of the projects.
Please DYOR before investing in any project.

Serum is a high-speed, orderbook based, non-custodial DEX that’s built on Solana. FTX, Alameda Research, and a consortium of other partners created the Serum Foundation and announced Serum, a new high-speed, non-custodial DEX that’s built on Solana. Serum is a complete, non-custodial decentralized exchange running on an on-chain central limit order book (CLOB) on Solana’s mainnet.

Raydium is an Automated Market Maker (AMM) and liquidity provider built on the Solana blockchain for the Serum Decentralized Exchange (DEX). Raydium has first-mover advantage as an AMM within Serum and it will be an integral part of bringing new and existing projects and protocols into the ecosystem.

Mango is a decentralized, cross-margin trading platform with up to 5x leverage with integrated limit orders on Serum DEX’s on-chain order book. Makers or takers can earn interest on deposits and margin positions, as well as trade with near zero fees thanks to Solana’s high-performance blockchain.

Orca is the easiest way to exchange cryptocurrency on the Solana blockchain. Here, you can exchange tokens with minimal transaction fees and lower latency than any DEX on Ethereum, all while knowing that you’re getting a fair price. Additionally, you may provide liquidity to a trading pool to earn a share of trading fees.

Star Atlas is developing a unique gaming experience by combining blockchain mechanics with traditional game mechanics and is proud to announce that it has selected Solana as the protocol to build out its metaverse.

Phantom is a digital wallet reimagined for DeFi, making it safe and easy to store, send, receive, collect, and swap tokens on the Solana blockchain.

Saber is the leading cross-chain stablecoin exchange on Solana, providing the liquidity foundation for stablecoins, or a cryptocurrency whose value is pegged to another asset. As Solana’s core cross-chain liquidity network, Saber facilitates the transfer of assets between Solana and other blockchains.

Brave is a free and open-source web browser developed by Brave Software, Inc. based on the Chromium web browser. Brave is a privacy-focused browser, which automatically blocks online advertisements and website trackers in its default settings.

Audius is the latest project to move over to Solana and has been growing rapidly, now with over 1 million monthly listeners. However, as their active users have increased, so have the gas fees and load times. Audius is creating a fully decentralized community of artists, developers, and listeners collaborating to share and defend the world’s music.

Bonfida is a full product suite that bridges the gap between Serum, Solana, and the user. It aims to be a single source of data truth in the cryptocurrency industry, focusing on, among other things, exchange statistics, crypto company reviewing and scoring, and researching crypto trends.

Bonfida also handles an array of data aggregation and visualization which has proved popular among crypto traders who don’t typically have the means to parse this data themselves.

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