Solana is one of the popular chain lately due to it's airdrop and the variety of projects that are competing with the Ethereum and chains like polygon, optimism and arbitrum. Lately there has been growing number of new projects that are raising the funding and also being used a lot among the userbase.
DEX which is a decentralized swap and exchange services are growing a lot of chains like optimism, solana, polkadot and others. These DEX are extremely profitable for the project owners and they solve a user needs and the usecase where it helps them convert assets.
Solana has recently got the variety of projects in the DEX onboarded and those projects have been doing pretty good so far in terms of the revenue and also the exchanges transactions.
Let's take a look at those DEX projects on Solana blockchain.
Drift DEX
I came across this DEX while doing the airdrop swap. I was in search of the solana based DEX which does the swap for the most of the tokens on it's platform. And luckily they had the liquidity for those tokens and that way I managed to make the swap through this exchange. So far it seems like most of the solana network tokens are there for the swap.
Drift has an option of the staking and the market market rewards. So you don't have to depend on the holding solana in the wallet. You can put them into the work and earn the rewards. So it's kind of like decentralized exchange in the motion. Though I am not a financnial advisor, so you should invest with some caution.
You can check out the Drift DEX
Jupiter DEX
I was in searhc of the Ethereum USDT to the Solana USDT swap. And I wanted a good set of the exchange rate. This is where I came across the project called Jupiter DEX. It's a good swap DEX and also it managed to get my asset from the ethereum chain to the solana. And in process I saved it on the fees.
Apart from that there is also option to keep the assets into the liquidity pool. You may notice that the set and forget approach of the system makes you keep things hands free and it is definitely worth exploring. So if you have the dividend mindset then this is worth exploring. I'd recommend Jupiter DEX for many reasons as it has done 400 mn USD so far and it's reliable.
You can check out Jupiter DEX
Orca DEX
This one I ketp for the last because this DEX is pretty simple. Not a lot of complicated things. Like no issue with the too much options into the DEX related services there. You can find the trade and liquidity as the two set of the options and you are good to go to use them. I have not tried the liquidity as I don't have that much coins up for stake.
However the trade option would get you the exchange for most of the assets. USDC seems to be the favorite in the solana world. Though there is also support for the tether so it's not like USDC is the only stablecoin. I suppose they seem to consider USDC as the prefered one among their choice of the stablecoins. It's a simple DEX worth exploring.
You can check out Orca DEX.
Solana DEXs projects bring the liquidity in and out of the blcokchain. And it has helped many who are into the airdrop and other blockchain projects. I am not a financial advisor, so do your own research before using these DEX and investing or putting liquidity into them.