All Aboard to Solana - What Projects Fuel Adoption?
Introduction
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In this dashboard, You will read about Solana Network. We want to know which Programs, NFT collections and Tokens in Solana have fueled adoption on Solana.
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Users are important in every chain. Actually if gas is fuel for cars, Users are Fuel for projects.
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In order to find projects that have fueled the adoption of Solana, I analyzed these parameters:
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New Users
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Average and total New users
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Active Users
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Users Breakdown based on the active month
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Users Retention
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- Analyzed By Hess - Reading Time Almost 15 min.
Tokens
- It’s normal that Wrapped Sol and Stablecoins have the highest new users and retention. Due to that, I eliminated these tokens from my findings to find new tokens on the Solana chain that fielded Solana.
- Like the NFTs, I extracted top tokens based on the total number of unique users and the total number of transactions. Then, I examined new users and their retention.
A SUMMARY OF THE MOST IMPORTANT FINDINGS
Program
- New Users: :1st_place_medal: Orca :2nd_place_medal:Raydium :3rd_place_medal: Jupiter
- Retention: :1st_place_medal: Orca :2nd_place_medal: Raydium :3rd_place_medal: Jupiter
NFT Collection
- New Users: :1st_place_medal: 111 Anons :2nd_place_medal:Nan :3rd_place_medal: Dahly Dream Friends
- Retention: :1st_place_medal: 111 Anons :2nd_place_medal: Dahly Dream Friends :3rd_place_medal: 3D Sniping Demons
Token:
- New Users: :1st_place_medal: GST :2nd_place_medal: GMT :3rd_place_medal: Raydium
- Retention: :1st_place_medal: GST :2nd_place_medal: GMT :3rd_place_medal: Raydium
Note: I Eliminated Wrapped Sol, USDT and USDC tokens from my findings. These tokens had the highest number of new Users.
Full Analysis:
Programs
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First, Take a quick glance at the Top programs based on the total number of unique users and transactions. Based on the total number of unique users Orca is in the first place and Based on the total number of transactions Jupiter is in the first place. Both of them can be Solana Fuel since January 2022.
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- As you can see, from January until march, Raydium had the highest number of new users. After March until June 20, Orca had the highest number of users. After That, Jupiter had the highest number of new users. Overall, Orca had the highest number of new users.
Radium had more than 2.5K users that were active all month since January 2022. I can say that Raydium had more active users but overall, Orca had a better Retention. It seems in the last 3 months, Raydium took its place.
- I can see that the 111 Anons collection had the highest number of new users in comparison to other platforms. Maybe you heard about Y00ts NFT collection. This NFT collection is one of the most popular in the Solana chain. But why it is not on my list? The sales volume of Y00ts is higher than other collections but had lower users and transactions. Because a small group of users could buy from this collection. These collections can be Solana fuel but I am examining Users only.
- In January, Nan had the highest number of new users. From February, The new users of 111 Anons increased. After 111 Anons and NAN, Dahly Friends had the highest new users.
- The retention users result is a little different with new users. 111 Anons had the highest retention but the second place is Dahly Dream and the third place is 3d Sniping Demons.
- ABC collection had the highest retention in the last month.
- Before April, Star atlas and Raydium had the highest number of new users But after April, the total weekly new users of GMT and GST tokens increased significantly. Their difference from other tokens is huge.
Almost in All parameters GST and GMT tokens have the highest new users, active users and Retention. Those tokens from Stepn project, Was the best fuel for Solana.
Conclusion
Which NFT collections have been particularly good at attracting new users? How do these NFT collections differ from other NFT collections (if at all)?
- This is one of the main questions about this bounty. We have seen that 111 Anons had the highest number of new users in 2022. But how do these collections differ from other collections? We all know that Y00ts is one of the popular NFT collections on Solana But their NFTs are Expensive and normal users can’t buy them. NFT collections with a higher number of NFT in one collection and lower price can attract more new users.
- A popular project like STEPN can be Fuel a chain. A Successful game project has many users in the Crypto world. When they launched their tokens, Their tokens become much more popular.
ALL CODES AND CONTENTS WERE WRITTEN BY HESS
:writing_hand: Twitter: @hessaminanloo
:exclamation: Discoed: hess#0890
:calendar: Analyze Date: 2022/SEP/26