Tokens or coins are an essential part of cryptocurrencies and they represent a digital unit of said cryptocurrency. Before we dive into the tokenomics of solanaverse, I would like to focus on SOL, the governance token of Solana.
SOL token has rocketed 80x since the start of 2021 and has gained massive popularity, sitting currently at the number 5 spot in the list of top crypto by the market cap.
It is used for transaction fees and various stuff in the Solana ecosystem. The initial supply was 500 million tokens, and it will keep increasing due to proof of stake rewards, but 50% of all transaction fees are burned to fight that inflation.
Although Solana’s token surged in price and is very unlikely to make another 80x move in the recent future, we have some tokens from the ecosystem that have a much smaller price, but great usage, meaning they have a lot of room to grow.
Raydium
One of the most valuable and safest tokens in the terms of longevity is Raydium’s native token – RAY. This project has the highest TVL (total value locked) on Solana, meaning its value is going to rise sooner than later.
It is currently sitting at around $12 and is a bargain to get into, especially being that Raydium is one of the core elements of the Solana ecosystem being this blockchain’s biggest AMM (automated market maker), similar to Uniswap – You can swap tokens, provide liquidity, yield farm and so on. But what they do differently than most is they have their own liquidity pools as well as Serum’s order book, adding the ability to do limit orders.
Mango Market
Mango market with their token MNGO is also a great project worth taking a look at if you are looking for a nice runner token to buy. They are one of the first decentralized, cross-margin trading platforms built on Solana and their TVL has been exploding recently.
It enables its users to use up to 5x leverage with lightning-fast network speeds and dirt-cheap transaction cost.
It also uses Serum and its own pools, meaning users will hardly face any liquidity issues. Additionally, they offer decentralized lending where any user can earn interest on deposits and take out collateral loans against some of the supported assets.
On the project’s website, we can see that MNGO has three main goals: To capitalize an insurance fund, incentivize liquidity for market makers and distribute the DEX governance token. It is sitting just under half a dollar of value per token, so yet another great deal to add to your portfolio.
Oxygen
Oxygen is considered one of the top five projects and it is a liquidity protocol that brings a Wall Street-like proposal to the decentralized environment. Similar to other liquidity protocols on Ethereum, like Aave for example, it enables investors to yield their tokens.
Also, said investors can use the Oxygen token to create leverage on their investments or to take short positions, as well as earn passive yield, do option writing, or borrow assets for shorting and earn interest on it.
The core team behind this project has people with experience in working for J.P.Morgan, Goldman Sachs, CME, Bank Of America, and Barclays, giving them a lot of credibility.
Bitspawn
If you are into gaming, you will love this token. It Is called SPWN and is representing the governance token of the Bitspawn project. It is a gaming blockchain protocol built on Solana. Like many other gaming blockchain solutions, it offers in-game NFTs which you can sell and exchange for physical goods, which is a big plus.
Additionally, they have implemented a new system called Bitspawn GameFi – which works on their PoR or Proof-of-Respawn reward mechanism. What this means is that rewards for the players are distributed by ability-based algorithms to align the incentives between players, communities, developers, and brands. You will be able to earn crypto-based rewards by playing your favorite games in an e-sports like tournament fashion.
Their token provides utility in establishing a marketplace of competitive events and community rewards.
It provides multi-level functionality as in medium of exchange on the network, gaming rewards, wallet staking, progression, and community governance. The project is currently in beta so you have a lot of room for a sweet profit. You can find this coin on CoinMarketCap and CoinGecko.
Star Atlas
While we are on a gaming roll, we must mention the biggest gaming project on Solana and that is StarAtlas. It is set on a track to beat Axie Infinity to become the number one crypto game and it’s gaining massive traction.
It conducted its triple IDO, which was a massive, massive success. This made their native token POLIS get almost 150x growth.
This happened because Star Atlas is one of the rare crypto games that promise to provide a AAA premium gaming experience to the blockchain landscape. It is a combination of NFTs with the gaming industries using the concept of the metaverse.
Going into the token perspective, ATLAS will be the in-game currency, and POLIS is the governance token. In total 80% of future minted ATLAS coins will be used to reward the player with outstanding progress and skills in the game. And POLIS after selling the initial 20% of supply, rest will be distributed to the DAO,
With all of the buzz around metaverse nowadays, with Facebook changing its name to meta, we can see this POLIS coin getting more utility and more potential growth.
It is a less risky investment because it is one of the core projects in the solanaverse and they have cross-platform connectivity with most of the projects mentioned in the article.
SolFarm
TLIP is a flowery addition to the Solana ecosystem. Made by SolFarm, it is a yield aggregation homestead, a place where you can store your tokens in so-called vaults which serve as staking solutions and you will earn annual interest. You can also do lending to get additional leverage and maximize the lending APY.
There are 10 million TLIP tokens available and around 48% are reserved as rewards for people doing liquidity mining and other ecosystem activity. All of the team tokens will be vested on-chain with a cliff of 6 months and 3-year linear vesting.
The activity that brings you the biggest return, but with increased risk is so-called Leverage TLIP farming where you can multiply your already big APY on regular farming as we have seen on the pancake swap project.
Orca
Orca, being one of the top projects built on Solana, is a pure AMM DEX that has its own liquidity pool, another DEX, which TVL has exploded in the last two months and has recently crossed the 1 billion USD mark.
It doesn’t use Serum as a source of liquidity and it allows its users to swap tokens, and it encourages users to contribute to Orca’s pool and receive a part of trading fees as rewards in their native token ORCA.
Their aquafarms yield farming program is another great way to earn ORCA tokens, as well as some additional trading fees, but they also plan to add functionality where another project can add their tokens as rewards for users providing liquidity and doing yield farming.
