Logo Phantom
Logo PhantomLogo Phantom
ExploreApp Spotlight

Solana Starter Pack - Top DeFi apps

Zac Glover
Solana Starter Pack - DeFi

    Welcome to Solana. We’re glad you’re here. 🫂

    We know exploring a new blockchain can be overwhelming so we’re here to guide you. As the leading wallet on Solana, we know all the top decentralized finance (DeFi ) apps you need to get started. And by the end of this guide, you will too. With this Solana Starter Pack, you’ll know where to buy, sell, trade, stake, and swap your SOL.

    Ready? Let’s dive in.👇

    Decentralized exchange

    solana starter pack

    Want to buy, sell, trade, or swap crypto? Try Jupiter, the leading decentralized exchange (DEX) on Solana. As a DEX swap aggregator, Jupiter aggregates liquidity sources from across the Solana ecosystem to get you the widest range of token swaps at the best prices. Plus, with its detailed routing overview and status updates, you’ll know the exact route and status of your swaps.

    💡 Pro tip: Save time by swapping tokens right from the Phantom wallet swapper, powered by Jupiter.

    Other than swaps, Jupiter also offers a variety trading activities. You can place limit orders to buy a token at a specific price, schedule buys (by the minute, hour, day, week, or month), bridge across chains to Solana, and long or short tokens with up to 100x leverage (NFA). Please be aware, using leverage to trade options is highly risky. We don’t recommend it.

    So, what can you expect from Jupiter?

    1. The best price
    2. The best selection
    3. The best experience for users and devs

    This is the JUP Promise.

    Lending protocol

    Want to lend or borrow crypto on Solana? Decentralized lending protocol marginfi’s got you covered. Marginfi connects liquidity across DeFi so you can lend, borrow, swap, stake, and more in a peer-to-peer (p2p) manner without intermediaries. Another interesting aspect of marginfi is that you have a global margin account for trading across all protocols on Solana, which allows you to unify your entire DeFi portfolio. Use it to take on margin when you need it, manage margin requirements across protocols, and maximize your capital.

    Like points? When you lend, borrow, and refer on marginfi, you’ll earn mrgn points.

    Here’s the breakdown:

    1. Lend: Earn 1 point per dollar per day
    2. Borrow: Earn 4x more poinst than lending
    3. Refer: Earn 10% of referred members’ points

    So, you can think of it like this. The more money you commit, the more time you commit it, and the more people you refer, the more mrgn points you’ll earn.

    Liquid staking

    There are a few platforms to try: Marinade, Jito, and SolBlaze.

    Marinade is Solana’s first-ever liquid staking solution. Founded in March 2021 at a DeFi hackathon, and funded via grants, this saucy provider delivered Solana’s first liquid staking token, mSOL, in August 2021. On Marinade, you stake your SOL and receive mSOL. As your staked SOL earns rewards, they’ll be distributed distributed directly into the price of mSOL.

    Next, is Jito, an MEV-powered liquid staking provider. When you stake with Jito, you receive yield-bearing JitoSOL and rewards in the form of points. Plus, the additional profits from Jito’s MEV validators are then redistributed to JitoSOL and its point program, which creates a positive flywheel.

    Lastly, a promising, newer Solana liquid staking option is SolBlaze. The SolBlaze stake pool works similarly to the ones from Marinade and Jito. But a key difference is that, when staking with SolBlaze, you don't receive mSOL or JitoSOL, but yield-bearing bSOL and its corresponding rewards.

    So, what’s the point? With the top Solana liquid staking providers, you can lock up your SOL and receive a liquid staking token (LST)—such as mSOL, JitoSOL, or bSOL—then deploy it in DeFi in search of greater returns.

    Decentralized perpetual exchange

    When it comes to decentralized perpetual exchanges on Solana, Drift is one to know. Drift allows you buy, sell, trade, and long or short with up to 10x leverage while maintaining custody. Believe an asset’s price will go up? Down? With Drift’s perps, you can increase or hedge your exposure to a variety of tokens, such as SOL, BTC, ETH, PYTH, and more.

    Get started on Solana with Phantom

    Okay, now, that you’re equipped with our Solana Starter Pack, you’re well on your way to becoming a Soylana manlet. (Trust us, it’s a good thing.)

    To take the next step, download Phantom on mobile or desktop to begin exploring all these apps and more!