$34.63
1H
-0.70%$0.2441
24H
-1.35%$0.4739
7D
22.3%$6.31
30D
1.99%$0.6757
Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Dexlab recently launched the world’s first ever Solana centric minting & management platform that doesn’t require any coding knowledge called ‘MintingLab’.
The Total token supply is 1,000,000,000 (C98) with 50,000,000 C98 (5% of Total Token Supply) being allocated to Binance Launchpad.
One of the key features of Scallop is the Scallop Chain which is set to launch in Q2 2022 according to the company’s roadmap.
Initially, the founders had earlier experimented with some NFT sneakers design on Ethereum blockchain, however, the low transaction fees coupled with the speed of minting new tokens drew them to the Solana blockchain.
Solrise Finance has successfully concluded a $3.4 million funding round.