DeFi is one of the hottest sectors in the crypto universe. New DeFi projects with enormous potential are coming out, some of which are in fact built on Solana. The blockchain is expected to be the launchpad for some of the most exciting DeFi projects in the future, and here is why:
Solana allows DeFi to be scaled up easier and faster
The Solana infrastructure is highly integrated with DeFi needs
Fees on Solana are way lower compared to other chains
Well, for investors looking for DeFi projects on Solana that could easily 5X your money, here is our top 3 list:
Oxygen Protocol (OXY)
Oxygen protocol (OXY) is designed to work as a decentralized bank. In fact, the project is trying to tap into one of the hottest DeFi trends right now. People want to reduce exposure to the traditional banking systems and are looking at the blockchain for solutions.
Projects like Oxygen are working to offer these solutions. If indeed decentralized banking takes off in 2022, OXY is going to explode.
Delta One is a new DeFi project on Solana designed to offer users low-risk yield farming across multiple chains. Work on this project started last year, and while it is yet to reach full market value, there is just so much potential. In fact, Delta One recently raised nearly $10 million to fund the development of its ecosystem. It has big-name backers and investors, too including Pantera Capital, Almeda Research, and so many others.
Solend (SLND) is a borrowing and lending protocol designed to offer users low-risk collateralized crypto loans. It’s also a fairly exciting project with quite some potential too. SLND is hoping to become the most popular lending protocol on Solana by leveraging the platform’s speed and low fees. So far, it is seeing very decent growth.