One of the projects that got a lot of public attention in Hackathon Solana X Serum recently was Solrise Finance – the first asset management protocol on Solana. For you to imagine, this project is similar to the dHedge (DHT) project on the Solana platform.
Can Solrise be as successful as dHedge? Let’s find out about Solrise through a post on Medium retweeted by Solrise Finance on Twitter!
I will link the article at the end of the post.
What is Solrise Finance?
Solrise Finance is a decentralized and non-custodial asset management application on the Solana platform – the blockchain with the highest processing speed currently. Solrise Finance allows individuals, hedge funds or fund managers to easily create, track and manage their portfolios in just one app.
- Under an angle ordinary investorsYou can authorize the investment of your capital, without placing ownership of your property in the hands of any third party, thereby eliminating the possibility of you being deceived.
- As for those fund managerSolrise Finance allows them to create a fund, choose the type of asset to trade, and keep track of that investment on an ongoing basis.
All operations on the protocol are simplified, just a few clicks to complete, eliminating the cumbersome of traditional financial world wealth management channels.
This is one of 9 winning projects in the Hackathon Solana X Serum recently. Solrise is tied for second with Parrot and Synthetify. This wealth management market is very promising, is expected to reach nearly $ 1,300 billion by 2027, and Solrise’s vision is to become the asset management protocol of the future, hitting this lucrative market. .
You can see the fullest and most detailed guide on using testnet Solrise Finance to get the chance to receive a reward from the project as well as help you understand & directly experience the product here.
Highlights of Solrise Finance
Solrise Finance is built on the Solana platform, the fastest blockchain currently available. In the future, transaction fees on this platform will be even cheaper and the speed will be even faster. Along with that, Solrise Finance will also support trading more assets for investors, introduce rebalance mechanism, use price oracle, SPL token system and track profits / losses of funds. investment on. All data will be transparent, with low latency.
Currently, the tokens supported for trading are USDC, SOL, SUSHI, SRM, and LINK.
Potentials of Solrise Finance
You can see, although it is a newly developed application, Solrise Finance has a big advantage over two main competitors files, which are centralized investment funds and decentralized asset management applications. midsage differs on other platforms.
- For centralized funds: Trading through the hands of these fund managers requires the trust of the investor, while for other applications they are having problems with the cost and speed of the platform. the platform they develop. Choosing the Solana platform for application development is a good choice for the Solrise development team, as the speed and transaction costs are increasingly a big problem for the biggest platform right now – Ethereum.
- As the first project on Solana to work in asset management, and winning second place in the recent Hackathon, Solrise Finance is heavily supported by the Solana team, including development, audit and communication. On Team Solrise’s Twitter channel, they announced that they are backed by backend technology by FTX, Serum, and Octopus Network – key legs of the Solana ecosystem.
Because this is a project that has not issued tokens yet and is still very new, you should follow the project closely to find opportunities for yourself. There is a possibility that Solrise Finance’s token will be airdropped to testnet users, so you should actively try the product.
Because it is being supported, it is also possible that Solrise’s token will be sold on FTX, but the ROI of projects on FTX are very high, the closest is Raydium and Oxygen. Brothers should actively follow the project on their Twitter channel to receive the earliest notification.
Currently, the project has not announced anything about their token, I & the Coin98 team will continue to follow & update to you when the official information is available.
Now is a very nice time for you to invest early in the Solana ecosystem, when quality projects from Hackathon are about to launch. Good position, early investment, good “skin in the game”, investing in pioneering projects in each segment of this young and potential ecosystem, surely you will get a good return. worth.
What do you think about Solrise Finance project? Please discuss and comment below the article!
Brothers can refer to the original article here.
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