Solana Becomes the Next Blockchain Integration for Orbs
On September 9th, Orbs announced that Solana is going to be the fourth significant blockchain integrated to support the Orbs network. Before Solana, Ethereum, Binance Smart Chain, and Polygon have been connected with the Orbs network in the recent past.Through a series of advancements and partnerships, the Orbs network is becoming one of the biggest projects currently active in the DeFi market. Let us dive into the current state of affairs of the L-1 projects and understand why Solana was chosen for Orbs blockchain integration.
Reasons to Choose Solana
Solana’s unique aspects have made it a clear winner among all the alternative layer-1 crypto projects to be chosen for the next integration with the Orbs network blockchain. Solana’s name stands for tech innovation, useful features, and a consistently growing ecosystem within the crypto industry. It is one of the most popular open-source projects that owns a permissionless blockchain offering protected, fast, scalable decentralized applications and marketplaces. Solana has gained not only popularity but also much-needed support from top-tier crypto industry leaders like Terra, Serum, FTX, and others.
Solana has expanded its ecosystem with more than 300 projects under its belt that include leading DeFi names such as Serum and Raydium. The total value locked figures of Solana’s DEX-AMM called Raydium are close to over $1.5 billion at the moment. In terms of TVL, Solana is among the top 5 DeFi projects. Solana also made its mark in the NFT space with creative projects like Degen Ape Academy and Aurory.
Advancements of crypto projects belonging to Layer-1
Contrary to common belief, a wave of most successful crypto innovation has come from L-1 blockchain infrastructure projects rather than L-2. These prominent L-1 projects include; Ethereum, Cardano, Solana, Polkadot, Avalanche, etc. Ethereum has been on the top in terms of activity and market participation followed closely by Cardano. Charles Hoskinson-led project Cardano has rolled out its long-anticipated implementation of smart contracts recently. Avalanche on the other hand has launched a $180 million grant program.
These L-1 projects also continue to hold the top-20 spot with Ethereum as the Alpha of the pack. At a time like this, it is quite possible to observe a multi-chain future in crypto supported by the L-1 projects including Solana, Polygon, and Avalanche, etc. Since Orbs network is getting integrated with all four leading L-1 blockchain, it would be worth watching the next move of this particular crypto project.
DeFi with Orbs and the OEGP
Since 2020, the Orbs team has been focused on bringing out the best within DeFi ecosystems, and to do that they have come up with significant integrations to reach that goal. Co-founder of Orbs, Tal Kol is confident that Orbs would be recognized as a killer app of blockchain technology soon. With Solana integration, Orbs has also linked with 17 top DeFi platforms for example Pancakeswap, UniSwap, SushiSwap, and Balancer, etc. Orbs announced a new grant program dubbed the Orbs Ecosystem Grant program that would focus on powerful applications that leverage the power of the Orbs Universe.
The hybrid and unique architecture of Orbs and the ability of interoperability make Orbs followers excited to see what the project can achieve in the DeFi space.Source