Name: Ogonwa O.

Tutor: Defi with Eclue

Token name: Solana

What is Solana?

Solana is a fast, secure and censorship-resistant blockchain providing the open infrastructure
required for crypto to scale to global adoption. One of the essential innovations Solana brings to the
table is the proof-of History (PoH) consensus developed. This concept allows for greater scalability of the
protocol, which in turn boosts usability. SOL coin can be bought on exchanges such as FTX, Coinbase,
Kraken, and more.

Unique Features of Solana Ecosystem

Solana is fastest growing ecosystem in crypto, It has the following unique features;

1. Industry-leading speed:

As the first truly web-scale blockchain, Solana claims to support over 50,000 TPS secured by just 200
nodes — making it the fastest blockchain network.

2. Scalability:

Solana has the most scalable blockchain ecosystem in the market at the moment.

3. Cost-efficiency:

Solana is one of the cheapest ecosystems for developers and DeFi enthusiasts, averaging US$0.00025
per transaction, whereas Ethereum averages US$6.85 per transaction. Benefiting from Solana’s low fee
structure, a US$1 million transaction would cost about US$10 in fees, whereas the same transaction
would cost approximately US$300,000 in gas fees on Ethereum.

Community: Solana has a strong active community. The community is active on telegram, twitter,
YouTube, VK, Podcast, discord, reddit, Solana forum, github, etc.

Transparency: the Solana foundation issues transparency reports every month to shed light on the
previous month’s token activity, expected token activity for the current month and other updates in
relation to SOL token

Tokennomics:

SOL Price and Market Stats

SOL Price $135-$147
Market Cap $43,820,056,932
 Market Cap Dominance 2.13%
Trading Volume $2,210,244,605
Volume / Market Cap 0.0507
24h Low / 24h High $133.77 / $148.69
7d Low / 7d High $134.51 / $178.64
Market Cap Rank #5
All-Time High $259.96 -45.9%
Nov 06, 2021 (2 months)
All-Time Low $0.500801 27962.1%
May 11, 2020 (over 1 year)

Source; coingecko

Projects invested in:

Numerous leading blockchain and crypto projects are leveraging Solana’s open protocol. Solana has over
400 projects spanning DeFI, NFT and other market systems. Some of these projects include;

• DeFi -; serum, raydium and mango market.

• Wallets-; phantom, solfare and sollet.
• NFTs-; solanart and solsea.
• Games-; star Atlas and Aursory.
• Other projects include Audius and Arweave to mention but few.

Use Case

Solana's native currency SOL is used to pay for transaction fees and staking in order to support
the network.

Summary of reasons why SOL will be a prospective coin

• Solana is cencorship-ressistant. It is decentralized and unstoppable.

• Most of the companies that are building DeFi applications are using Solana’s blockchain
network.
• Solana is utilizing the NFT industry which is the future of crypto.
• Solana currently owns the third-largest futures open interest.
• Solana still has an edge because of its fast transaction speeds and low costs.

What to take note of:

• No documentation for their Roadmap.

• Solana is still a young project, having only launched its mainnet in March 2020.