Solana has emerged as a powerful player especially after its ecosystem became one of the best performing ones this bull cycle. Solana offers a host of decentralized exchanges (DEXs) that are transforming the way we trade. If you’re on the hunt for the best Solana DEX or the top Solana swap exchange, you’ve come to the right place.
This article will provide a comprehensive Solana DEX list, highlighting the unique features and benefits of each platform. From the speed of Solana swap to the diverse offerings of various DEXs, we’ll guide you through the intricacies of these platforms, helping you make an informed decision about where to conduct your crypto transactions.
So, let’s dive in and explore the vibrant world of Solana’s decentralized exchanges.
| 🔄 Decentralized Exchange | 🔑 Key Features | 💰 Fees | 👍 Pros | 👎 Cons |
|---|---|---|---|---|
| 🌐 Jupiter | Aggregates liquidity from multiple DEXs and AMMs on Solana, enabling efficient token swaps, limit orders, perpetual trading with up to 100x leverage, and automated investment strategies, while also offering cross-chain asset bridging and a liquidity pool for earning fees. | Users incur small percentage fees on trades, with additional charges for SOL deposits in staking and potential future priority fees, although Jupiter’s ability to find optimal rates may lower overall costs. | Offers a user-friendly interface with deep liquidity from 31 DEXs, efficient trade execution on Solana, a comprehensive DeFi ecosystem, and seamless wallet integration. | Dependent on Solana’s network stability, may overwhelm novice users with its complexity, and could face future regulatory challenges. |
| 🤖 Soldex | AI-powered decentralized exchange, customizable trading strategies, market data analysis and risk prediction | Transaction fees can be paid using the native token SOLX | AI assistance for trading decisions, Soldex Academy for educational resources, governance participation with SOLX token | Requires technical knowledge and understanding of Solana and DeFi |
| 🌐 Raydium | Provides liquidity and order flow from the Serum DEX ecosystem, central limit order book for efficient trading, Trade & Swap solution for quick token exchange | Transaction fees can be paid using the native token RAY | Access to Serum liquidity, charting and limit orders available, staking rewards with RAY token | May require some technical knowledge and experience |
| 💉 Serum | Uncentralized exchange based on Solana, quick and cost-effective trading experience | Transaction fees vary based on network congestion | Fast and affordable trading, wide range of liquidity options | Limited token options compared to other DEXes |
| 🐳 Orca | New DEX with low fees and fast trades, offers various tokens for trading | Transaction fees vary based on network congestion | Low fees and fast transactions, wide range of token options | Limited information available on specific features and drawbacks |
| ☀️ SolanaDex | Smaller alternative DEX on Solana, provides trading services for Solana-based tokens | Transaction fees vary based on network congestion | Trading services for Solana tokens, potential for discovering new tokens | Limited liquidity and token options compared to larger DEXes |
What you'll learn 👉
What is Solana?
Solana is another ecosystem-building blockchain that is a lot faster than what we had in the market. It is fast, reliable and also very secure. It supports up to 50 thousand transactions per second which makes it incredibly cheap. It can also support NFTs, DeFi’s, dapps, and many other things that blockchains like ETH support. This allows SOL to be much more efficient than ETH can provide.
This caused people to move away from ETH to SOL. And subsequently, it also helped SOL price to skyrocket. NFT markets booming this year helped SOL a lot as well. With more and more collections starting in SOL, it is only getting more popular. Today we will look into Decentralized Exchanges in the SOL ecosystem.
What are Dexes?
Decentralized Exchanges (also known as swaps in many places) are P2P token exchanges where people swap tokens. Liquidity farmers provide the tokens for both sides, and people can swap tokens easily. This way whenever one side gets heavier, the price changes accordingly. It is a method where nobody deposits any money anywhere, and it happens from one wallet to another without security risk.
It became a very popular method of exchange in the past year. In the midst of many exchanges getting “hacked” or exit scamming, not depositing your funds was a welcomed innovation. SOL is not absent from the DEX world, in order to swap tokens in the SOL network, people use SOL dexes in order to swap these tokens as well. SOL is a newer ecosystem compared to ETH, which is why there are no clear leaders in the SOL dex world either.
Raydium
With a staggering 1.7+ billion dollars locked and 17+ billion dollars volume, Raydium is one of the biggest DEX in the entire SOL network. It has 170+ thousand followers on Twitter and is one of the most talked-about ones in the community. It offers the option of double earnings in the yield farm part which attracts investors. If you invest in Ray-Atlas LP then you earn both RAY and ATLAS together.
Security if Raydium is highly trusted as well, and it can be connected to almost any known big wallet. There is also a dropzone as well where people can launch their own collections as well. This way they help the NFT world in the SOL network while providing a platform for creators. With a launchpad as well, they offer IDOs in the SOL ecosystem too, which gains a lot of attention each time they do it. All of these are proof of how Raydium is a preferred destination for SOL investors.
Read also:
- DeFi Projects Worth Investing In
- Best DeFi Wallets
- Best DeFi Bridges:
- Best Yield Aggregators on BSC
- Best Low Cap DeFi Coins
- Top 5 DEX on Polygon (MATIC) Network
- Best Solana (SOL) Wallets
- Best NFT Marketplaces on Solana
- Best NFTs on Solana Blockchain
Serum
Investing in Serum tokens and using Serum DEX are approached slightly differently in the community. As usual, you do not have to be an investor of the token just because you want to swap there. Many people do not feel like tokenomics of Serum token is there a bit of a problem with more and more tokens unlocked at certain intervals. As long as there is a good amount of swap going on, that is not a problem, but this requires a lot more swap to occur in order to avoid this problem.
At the end of the day, it is incredibly fast, the fastest I have ever seen offers a lot of products, and is as secure as it gets. This is why the DEX part is beloved by the community. As long as you are feeling comfortable in the SOL network, you should definitely check SERUM at least once and feel the speed. It will be hard to crack anywhere else in the DeFi world. With the combination of Serum and Solana, we are talking about size and speed we have not seen in crypto before.
Of course, it hasn’t been tested yet, but in theory, it should support over a billion dollars each minute. That type of volume without any problems would be a first in the crypto world. The volume is seen today in other chains but causes congestion and high fees. This is the reason why people are moving towards SOL lately, given enough attention, it could beat any other chain at speed and size.
SolanaDex
SolanaDex would normally not be on our list if it was a brand new project. However, it has been around for nearly a year and has nearly zero complaints. With just 20 followers on Twitter and barely any volume, it could be understood if people looked over it.
However, we wanted to mention it in honor because it is rare to have a DEX in crypto with zero complaints. It may not be popular, however, it would also not upset anyone who uses it.
TerraLunaDex
Terra is an algorithmic stablecoin, and the basis terra.money is a big payment system gateway. Thanks to terra.money anyone could own a collection of stablecoins combined into one and payments could be done in scale. The main aim is to make sure blockchain technology could be used to buy/sell products and services, providing a better alternative to current payment methods.
TerraLunaDex and Mirror are the places where they provide a DEX service as well. They are another community favorite for SOL, with 130+ thousand Twitter followers and even a strong 8+ thousand Reddit group, they get a lot of attention. You could also get shares of known companies using terra as well, which provides a fresh innovation to the crypto world as well.
Orca
Orca got its start on the Twitter replies section, Reddit moonshot subreddits, and many other community-shilled places. It wasn’t a very big project funded by whales, but people who wanted to join the ecosystem. With some love from the community, they have grown bigger than expected. It has a good amount of liquidity and a good selection of yield farms.
This allows people to still get in early when it is not billions of dollars, but swap enough that there is no high slippage fee. Orca token itself is at a good place for now, and that offers good investment opportunities as well. You can farm SOL/ORCA for a great return.
Conclusion
The SOL ecosystem may not be as old as ETH, however, it is providing a much better experience. It is faster and cheaper, a blockchain without a high fee is exactly what investors are looking for. This opens the door for many DEXs to offer both good returns for investors and cheap/fast swaps for traders.
There are big names like Raydium and Serum, as well as new up-and-coming ones like Orca and Terra, or a smaller alternative like SolanaDex. It all depends on what you prefer, and what you are looking for in a DEX. However, considering the volume and locked value are very important two figures in a DEX, it would be easier to start with bigger names for your first Solana DEX experience.
