The most important metric for measuring crypto's adoption is active users.

Here are three programs on Solana that grew rapidly in 2023 👇

On Solana, smart contracts are called ‘programs’.

App #1

Tensor: TensorSwap

Tensor is an NFT marketplace designed for pro-traders.

This program operates TensorSwap, their NFT AMM. Users can instantly buy and sell NFTs through the AMM. Anyone can earn trading fees by depositing NFTs and SOL liquidity into the AMM.

‌‌What's next?

Profile picture NFTs are priced similarly to fungible tokens. All the NFTs in a collection have roughly the same value (except for the rarest trait combinations). As a result, AMMs are really well suited to this category. Unlike orderbooks, AMMs offer instant buys and sells with minimal liquidity, which is ideal when dealing with small markets.

NFT AMMs haven't gained as much popularity on Ethereum (Sudoswap had a short-lived hype cycle). But on Solana, TensorSwap is draining significant market share from Magic Eden. For more TensorSwap data, refer to Headmaster Andrew Hong's dashboard: Link.

App #2

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Issue #018: Solana - NFTs, DeFi and Security