Decentralized Finance

Could Solar Dex Become the Uniswap of Solana?

The potential of a new project with surprising traction before it’s even tradeable

Wait… What is Solana, First of All?

One of the arguments against cryptocurrency that I constantly see trotted out is with regard to energy use and environmental impact. What people fail to realize is that this problem exclusively afflicts the old-model Proof of Work (PoW) protocols such as Bitcoin and Ethereum.

Okay, Then What is Uniswap?

Uniswap is a massively disruptive decentralized finance platform that’s sort of like an online vending machine for crypto. It creates a way for new projects to emerge in a permissionless way, without having to go through gatekeepers like Coinbase or Crypto.com (both of which I also remain bullish on). The Uniswap token has a marketcap of over $13.6 Billion as of this writing, and in only 3 years has generated more than $1 Billion in fee revenue for its liquidity providers.

Source for data: coinmarketcap.com

Could Solar Dex Win?

Solar Dex aims to be the first American-based Solana decentralized exchange. Whether it can reach Uniswap levels of dominance on Solana is extremely speculative considering the governance token and its platform aren’t even tradeable or useable yet.

I have become Hogefather. https://twitter.com/hogefather DAD. Amateur author. Crypto enthusiast.