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Value in Solana DeFi Doubled in First Week September

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Investors see opportunity in the upcoming Solana blockchain

The value pouring into the Solana DeFi ecosystem has doubled during the first week of September to $7.78 billion. The blockchain attracts lots of investors, and the upcoming decentralized exchange Soldex even got backing from billionaire Evan Luthra. 

On September 1st, the Solana blockchain had a total value locked (TVL) of $3.53 billion, according to data from Defillama, at the time of writing that number doubled to more than $7.78 billion. This growth comes mainly from the value increase of SOL, the native token of the Solana blockchain.

Source: Defi Llama

This growth of value underlines the potential investors and users see in Solana, a blockchain characterized by cheap and fast transactions. The fact that Solana is very energy efficient also fits the narrative involving worries about energy consumptions by NFTs on Ethereum. Many investors see Solana as a solid alternative. 

Currently, the Solana DeFi ecosystem has platforms like Saber, Raydium, and Serum. With a TVL of $2.29 billion, Saber currently leads the market, followed by Sunny ($1.74 billion) and Raydium ($1.61 billion). An upcoming name in the DeFi ecosystem is Soldex, a decentralized exchange (DEX) that uses artificial intelligence to help users make efficient trading decisions. 

Investing in DeFi on Solana with Soldex

As the DeFi sector on Solana attracts investors, so did Soldex. The upcoming DEX recently got the support from investor Evan Luthra. He’s a young billionaire who invested in various tech and crypto companies. Receiving backing from an entrepreneur like Luthra, will put Soldex on the map when it launches. Luthra will also be an advisor to Soldex. With his 2.2 million Instagram followers he immediately became one of the faces of the upcoming DEX.

The platform is currently conducting a private sale for 30% of its tokens. This sale will be open to both retail and VC investors. Soldex informed that they sold over 50% of the tokens in their first round, and there was even more demand. SOLX will later become publicly available to users, giving them access to governance rights, feed AI bots and staked. So far, the Soldex community has grown to include over 15k+ members. Soldex is inviting retail investors to participate by contacting [email protected].

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