The Fiercest Growth Sectors This Cycle – Contrast Between “Inscription” in the East and “Solana” in the West

Last week, Dr. DODO introduced various Inscription ecosystems. This week, it’s time to introduce Solana’s ecosystem, as Solana token has skyrocketed from $10 to $100, lifting many projects in its ecosystem to top gainers’ lists. This week, Dr. DODO will uncover four yet-to-launch tokens in the Solana ecosystem. Getting in early before they launch could bring good fortune.

MarginFi

MarginFi currently ranks 3rd in TVL among Solana DeFi protocols, with nearly $400M TVL. As the top lending protocol on Solana, it raised $3M in its seed round last year, led by Multicoin Capital and Solana Ventures.

Its permissionless lending system is a key feature, separating lending pools into Global Pool and Isolated Pool to mitigate risks. Aside from lending product mrgnlend, MarginFi also offers liquidity staking product marginfi LST to compete with the top 2 Solana projects in TVL - Marinade Finance and Jito. MarginFi is currently conducting an incentive program where users can earn points for borrowing/lending or staking SOL in LST, though details on the points and tokens are still unavailable.

Parcl

Parcl is a perpetual real estate derivatives DEX on Solana, raising $4.1M last year from Coinbase Ventures, Dragonfly Capital and Solana Ventures. Through Parcl Labs’ automated market maker system, users can trade real estate price indices across cities like the US, UK and France. Aside from trading, users can also supply liquidity with yield farming rewards. Currently seeing exponential growth, Parcl’s $17M TVL makes it one of the fastest growing Solana protocols. Users also earn points for trading or adding liquidity.

TipLink

TipLink is a light wallet aiming to make asset transfers as simple as sharing a link. It raised $6M earlier this year led by Andreessen Horowitz and Multicoin, with a vision for mass crypto adoption. Allowing easy wallet creation via Google login and simple APIs for developers, TipLink removes Web3 adoption barriers while enabling crypto payments.

Teleport

Teleport is the first app powered by ridesharing protocol TRIP, akin to a Web3 Uber. TRIP raised $9M from Foundation Capital and is led by early Dropbox executives. As a decentralized protocol, TRIP allows anyone to develop ridesharing apps and aims to distribute profits back to drivers and riders, unlike the walled ecosystems of Uber or Didi. Though TRIP tokens have yet to launch, Teleport is already open for iOS users by invite code.

Author's Perspective

After introducing Jito which recently listed on top exchanges, Solana’s ecosystem is exploding after a year of dormancy. Moving toward mass adoption in 2023, Solana is well-positioned for high performance use cases like gaming and social that Ethereum cannot easily scale to. Efforts like Solana Phone and physical stores also showcase Solana’s push toward mainstream adoption. The next year will be critical for Solana as its ecosystem blooms - and early backers will reap the rewards.