How User Friendly Solana DeFi Ecosystem is Today?
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Many users probably already know that Solana is one of the fastest smart contract platform there is where during its live main net in early 2020, it was able to run 50 thousands smart contracts per second. Therefore, it is very fast and cheap. However, how user friendly is Solana DeFi ecosystem today? Let us take a look.
Many Mobile Wallets Supports Solana DeFi
Other than the main Solana wallets Sollet, Phantom, Solflare, Solong, and Slope, other multicryptocurrency mobile wallets also supports Solana such as Safepal, Math Wallet, Coin98, Bitpie, and blocto. Although Trust Wallet supports Solana assets but decentralized app (DAPP) browser is not yet released to expore decentralized finance (DeFi). For now Metamask does not support Solana because it is not a fork of Ethereum.
Main Network and Smart Chain are on Same Network
Many DeFi ecosystems are not a fork of Ethereum but they decided to run a separate smart chain for their DeFi called Ethereum Virtual Machine (EVM) compatible such as Binance Smart Chain, Polygon, and Avalanche C-Chain. However, Solana decided to build on their same main network where no need to set up a new smart chain network, cross chain, bridge, etc. Therefore, deposit and withdrawal in exchanges are just as simple as vanilla sending and receiving. Sure the top 2 global cryptocurrency exchanges Binance and Kucoin supports Solana but as long as there is Solana in the exchages, they definitely support DeFi deposit and withdrawal where you can even deposit and withdraw on Stex. One of my local exchange Tokocrypto supports direct deposit and withdrawal as well.
