Persist in infrastructure construction and comprehensively aggregate the cross-chain channels of the Solana ecosystem.
Since November 2023, driven by the rapid development in the DePIN field and the wealth effect brought by the MEME project, the Solana ecosystem has achieved significant quarter-on-quarter growth in the fourth quarter of 2023. Specifically, the market value has increased by 423%, the average daily fee payer count has increased by 102%, DeFi TVL has soared by 303%, the daily average DEX trading volume has increased by 961%, and the daily average NFT trading volume has also increased by 359%. These figures fully demonstrate the strong growth momentum of the Solana ecosystem.
In addition, the annual Breakpoint conference of the Solana Foundation has injected new vitality into the further development of the ecosystem. At this conference, multiple teams made major announcements, including Jupiter perpetual trading products and token issuance, Frankendancer, Backpack Exchange, and Render, among others. The efforts of these teams are driving the continuous prosperity and development of the Solana ecosystem.
As a leader in industry infrastructure construction, OKX always pays attention to market dynamics and supports industry development through technological innovation. Recently, OKX Web3 has been providing strong support for the development of the Solana ecosystem from the user's perspective. The head of OKX Web3 ecosystem revealed that the R&D team is currently supporting Solana ecosystem construction from two dimensions: infrastructure layer and application layer to meet the needs of more users.
Integrate the popular Solana ecosystem and create a user-friendly Web3 gateway
With the popularity of the Solana ecosystem, a large number of users and funds have poured into related sectors, but the incomplete infrastructure has led to a series of problems. The distribution of various applications is too scattered, and the tools are relatively fragmented, making it difficult for users to explore the Solana ecosystem. In order to solve these problems, OKX has not only integrated popular ecosystems but also provided practical auxiliary tools for users. In addition, the OKX Web3 wallet has also joined hands with the Solana ecosystem to launch the Solana Ecosystem Super Season to help users play in the Solana ecosystem more easily and efficiently.
Currently, the Solana Super Season of the OKX Web3 wallet has entered its third season. Users only need to complete simple tasks, such as OKX DEX trading JUP, providing liquidity, and trading SOL ecosystem tokens, to have the opportunity to receive SOL ecosystem tokens and USDT rewards worth up to $45,000.
As a wallet that supports the most comprehensive Solana ecosystem functions, offers the richest rewards, and provides the safest and most convenient user experience, the OKX Web3 wallet provides many conveniences for users. Users can easily participate in cross-chain transactions on the Solana network, participate in mainstream protocol staking and lending in the Solana ecosystem, explore Solana NFTs and inscriptions, manage Solana assets through the OKX Web3 wallet, and discover and interact with popular Solana DApps during the OKX Cryptopedia Solana special event to win potential future airdrops.
Cryptopedia is a one-stop DApp exploration and reward interaction platform designed to discover and aggregate potential projects, reduce the barriers to entry into Web3, and reduce user search costs, allowing precise interaction even with fragmented time. The OKX Cryptopedia Solana special event provides the latest market information and popular DApps to help users interact conveniently, covering four DApps including MarginFi, Jupiter, Kamino Finance, and Meteora, without any task verification, only providing interaction suggestions. OKX APP users with version 6.41.0 and above can switch to the Web3 wallet, enter the discovery section, and participate by clicking on Cryptopedia. Currently, nearly 40,000 people have participated in the Solana special event.
In addition, users can also participate in coin-earning activities in the DeFi section of the OKX Web3 wallet to earn additional rewards, currently provided by protocols such as Marinade, SolBlaze, Solend, Orca, and Raydium. Furthermore, the OKX Web3 wallet also provides rich information support for Solana traders. For example, the DEX market section has opened a special area for the Solana ecosystem to help users find popular tokens. In addition, the product manager revealed that the upcoming new version will also cover token rankings, token search, token information, candlestick functions, and more in the market section, providing users with a better interactive experience.
Persist in infrastructure construction and comprehensively aggregate Solana ecosystem cross-chain channels
In addition to integrating applications at all levels, the OKX DEX team has invested a lot of effort in protocol access, algorithmic pricing, and cross-chain bridge integration.
With the increasing demand for funds to flow into Solana, the expansion of cross-chain bridges to provide liquidity services has become more apparent. However, the Solana ecosystem does not have a simple and easy-to-use built-in cross-chain application. In the early days, the main support for the exchange of funds in the ecosystem came from third-party cross-chain projects such as Wormhole, Allbridge, and deBridge. However, since November of last year, the bridging activities in the Solana ecosystem have significantly increased. In just December, Synapse, Meson, and Hashflow have all added support for paths to Solana. Currently, aggregation platforms like Jumper are increasingly supporting Solana, and both Phantom and Jupiter have embedded bridging functions in their services.
As an important force in industry infrastructure construction, OKX DEX is also comprehensively aggregating Solana ecosystem cross-chain channels. Currently, OKX DEX has integrated mainstream Solana DEXs such as Raydium, Orca, and Meteora, covering over 80% of on-chain trading liquidity. In addition, it has also integrated SWFT Bridge and Wormhole cross-chain bridges to facilitate asset movement between Solana and other chains.
However, due to Solana's fast block generation speed and frequent on-chain data changes, the on-chain transaction failure rate is very high. To address this issue, OKX DEX has focused on optimizing the on-chain transaction failure rate of Solana, mainly by strengthening the ability to synchronize Solana nodes and parse data, and adding features such as rent verification, on-chain fees, and one-click transaction resubmission at the DEX application layer to reduce the failure rate and provide a better trading experience.
Furthermore, to ensure that users receive the most accurate quotes on OKX DEX, the team has developed algorithm calibration tools for each integrated DEX protocol to support accurate algorithmic pricing. In addition, according to the aforementioned responsible person, for trading optimization on Solana, OKX DEX will further integrate the liquidity of Jupiter, the largest aggregator on the Solana chain. In the long run, OKX will continue to integrate more decentralized trading protocols and enable split order algorithms to ensure that Solana traders get the best prices.
It is worth mentioning that during the token JUP airdrop period of the Solana ecosystem DEX Jupiter, when most wallets were unable to function normally due to on-chain congestion, the OKX wallet maintained stability and helped users maintain normal trading and airdrop receipt during peak periods. Not only that, the OKX wallet also achieved an overall transaction failure rate lower than its peers, with instant updates of JUP token prices and resolution, earning praise from the market.
In fact, the OKX Web3 wallet has deeply integrated with the Solana chain early on. In 2023, the OKX Web3 wallet successfully integrated with over 100 Solana ecosystem projects, covering multiple areas such as DeFi, NFT, and GameFi. To date, over 7.29 million addresses have been created on the Solana network, with 790,000 on-chain transactions completed, and a total transaction volume of up to 230 million USD. In addition, the DEX section of the OKX Web3 wallet began to fully support cross-chain transactions on the Solana network on January 7th. Currently, users can conduct cross-chain transactions between Solana assets and assets on seven mainstream blockchains including Bitcoin, Ethereum, Arbitrum, Optimism, BNB Chain, Polygon, and Tron, providing support for users to deeply participate in the Solana ecosystem.
The responsible person stated, "From start to finish, the OKX team has always adhered to technology as the core driving force, from initially supporting the Bitcoin ecosystem to now providing infrastructure support for popular public chain ecosystems such as Solana. We deeply understand that to truly drive industry development, we must listen to the real voice of the market. Our goal has always been to provide real value to the entire industry and users. As an important member of the industry, OKX will continue to contribute to the prosperity and development of ecosystems such as Bitcoin and Solana."
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