Solana has marked a significant growth phase in decentralized finance (DeFi), showcasing high demand for its capabilities due to speed and low transaction costs. This article reviews five leading DeFi projects on Solana that greatly contribute to the development of its ecosystem.
Jito: Leader in MEV Optimization
Jito holds the top position for TVL on Solana with $2.807 billion. The project focuses on maximizing extractable value (MEV) and helps users and validators earn more efficiently with smart transaction ordering tools.
Kamino: Hub for Automated Liquidity
With a TVL of $2.4 billion, Kamino is the second-largest DeFi project on Solana. It offers tools for automated liquidity management and lending, simplifying the liquidity provision process for users.
Jupiter: Leading Trade Aggregator
With a TVL of $2.384 billion, Jupiter is the leading decentralized exchange (DEX) aggregator on Solana. It combines liquidity from various DEXs to provide users with the best prices for swaps.
The collective efforts of five projects — Jito, Kamino, Jupiter, Sanctum, and Raydium — contribute to the growth of Solana's DeFi ecosystem, achieving a total TVL exceeding $11 billion. The speed and accessibility of Solana continue to attract both developers and users, despite existing challenges.
