Solana’s Dominance: Main DEX Surpasses Uniswap in the Flippening Race

The Rise of Solana’s DeFi Ecosystem

The total value locked (TVL) of Solana’s DeFi ecosystem has experienced remarkable growth, more than tripling in the last two months. This surge is fueled by a series of record-setting events among airdrop farmers inspired by JTO payouts. Notably, their achievements are positioning them to surpass heavyweight Ethereum (ETH) DEXes in crucial metrics.

Jupiter vs. Uniswap: Trading Volume Showdown

Solana’s Jupiter, a decentralized finance (DeFi) aggregator on the Solana (SOL) blockchain, has achieved a significant milestone by processing larger trading volumes than Uniswap (UNI), the popular Ethereum DEX. According to trader and analyst Jacob Canfield, Jupiter (JUP) nearly reached $1 billion in aggregated daily volume, while Uniswap (UNI) only recorded $909 million in equivalent.

Interest in Solana’s DeFi and the JUP Airdrop

The growing interest in Solana’s DeFi is driven by potential participants in Jupiter’s JUP airdrop scheduled for January. The anonymous founder has announced that 50% of the JUP supply will be distributed among community enthusiasts. Additionally, 10% of JUP will be allocated for contributor support and grant programs, with the remaining 40% shared among airdrop participants.

• The token distribution will occur in four phases.
• No further token sale rounds are planned, making the JUP airdrop the primary opportunity to acquire JUP allocations early.

Commentators on Jacob Canfield’s statement have emphasized that the trading volume spike on Jupiter might be short-lived, driven solely by euphoria around the upcoming airdrop prospects.

Solana’s DeFi Ecosystem Expansion

Analysts, including Canfield, forecast that the interest in Solana (SOL) airdrops will contribute to driving the price of its main asset SOL higher, as airdrop farmers typically require SOL for their strategies. The Jito Network (JTO) airdrop, with its generous rewards, has been a significant driver of excitement among farmers.

Q4, 2023: Solana’s DeFi Ecosystem On Fire

Solana’s DeFi ecosystem is experiencing a surge in Q4, 2023. The aggregated volume of liquidity locked in various protocols has skyrocketed from $315 million to $1.064 billion in the last two months. In addition to Jupiter’s JUP, Solana-focused retro airdrop farmers are closely monitoring MarginFi, Zeta Markets, and Drift Protocol – large-scale DeFis on the Solana blockchain.