A leading real-world asset (RWA) protocol tokenizing US government securities on Solana. Flagship products include USDY, a US Dollar Yield token backed by US treasuries available to non-US persons, and OUSG, a tokenized BlackRock short-term treasury ETF. Ondo deployed to Solana in 2024 using Token-2022 compliance extensions for transfer restrictions and identity verification.
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A leading real-world asset (RWA) protocol tokenizing US government securities on Solana. Flagship products include USDY, a US Dollar Yield token backed by US treasuries available to non-US persons, and OUSG, a tokenized BlackRock short-term treasury ETF. Ondo deployed to Solana in 2024 using Token-2022 compliance extensions for transfer restrictions and identity verification.
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Ondo Finance (ondo-finance) Category: Solana Ecosystem Definition: A leading real-world asset (RWA) protocol tokenizing US government securities on Solana. Flagship products include USDY, a US Dollar Yield token backed by US treasuries available to non-US persons, and OUSG, a tokenized BlackRock short-term treasury ETF. Ondo deployed to Solana in 2024 using Token-2022 compliance extensions for transfer restrictions and identity verification. Related: DeFi (Decentralized Finance), Staking
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Financial services built on blockchain smart contracts that operate without traditional intermediaries (banks, brokers). DeFi includes lending, borrowing, trading, insurance, and derivatives. Key properties: permissionless (anyone can participate), composable (protocols can be combined), transparent (open-source, auditable). Solana DeFi TVL has exceeded $5B, led by Jupiter, Raydium, Marinade, and Kamino.
The process of locking cryptocurrency as collateral to participate in network consensus (validation) or to earn rewards. Stakers either run validators directly or delegate to existing validators. Staking provides economic security—validators risk losing staked tokens (slashing) for misbehavior. Annual staking yields typically range from 3-15% depending on the network.
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A DeFi options protocol on Solana enabling projects to distribute tokens through option-based incentive programs called Staking Options rather than direct airdrops. Dual Finance allows protocols to offer staking rewards as options contracts, giving recipients the right to purchase tokens at a discount. This model aligns incentives by rewarding committed stakeholders over passive airdrop recipients.
An institutional lending protocol connecting capital providers with vetted institutional borrowers through on-chain credit pools. Pool delegates underwrite loans and manage risk on behalf of depositors. Maple offers Solana pools for US Treasury yield and direct institutional lending, bridging traditional credit markets with DeFi infrastructure for higher-quality borrowers.
A cross-chain swap protocol built on Wormhole enabling token transfers between Solana, Ethereum, and other chains with competitive rates through auction-based pricing. Mayan uses a relay system where solvers compete to fulfill cross-chain swaps at the best rates, combining Wormhole's messaging security with market-driven pricing to offer efficient cross-chain asset transfers.
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Financial services built on blockchain smart contracts that operate without traditional intermediaries (banks, brokers). DeFi includes lending, borrowing, trading, insurance, and derivatives. Key properties: permissionless (anyone can participate), composable (protocols can be combined), transparent (open-source, auditable). Solana DeFi TVL has exceeded $5B, led by Jupiter, Raydium, Marinade, and Kamino.
The process of locking cryptocurrency as collateral to participate in network consensus (validation) or to earn rewards. Stakers either run validators directly or delegate to existing validators. Staking provides economic security—validators risk losing staked tokens (slashing) for misbehavior. Annual staking yields typically range from 3-15% depending on the network.
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The most popular Solana wallet, available as a browser extension and mobile app with multi-chain support (Solana, Ethereum, Polygon, Bitcoin). Phantom provides token swaps, NFT management, staking, and a built-in dApp browser. Known for its clean UX and rapid feature adoption, it has become the default entry point for most Solana users and consistently ranks among the top crypto wallets by active users.
A Solana-native wallet offering browser extension, mobile, and web interfaces with deep staking integration, hardware wallet support (Ledger), and a built-in dApp browser. Solflare was one of the first Solana wallets and provides advanced features like stake account management, token metadata display, and priority fee controls. It supports the Solana Wallet Standard for seamless dApp connectivity.
A multi-chain wallet developed by Coral (the team behind xNFT protocol) that combines MPC and self-custody models. Backpack pioneered executable NFTs (xNFTs) that embed full applications inside NFTs, enabling a decentralized app store experience within the wallet. It supports Solana, Ethereum, and other chains with a focus on developer extensibility and programmable wallet experiences.
A regulated cryptocurrency exchange built by the same team behind Backpack Wallet (Coral). Licensed in multiple jurisdictions, it offers spot and perpetual futures trading with a focus on the Solana ecosystem. Backpack Exchange integrates tightly with the Backpack Wallet for seamless fund transfers and aims to bridge the gap between centralized exchange liquidity and self-custodial wallet experiences.