Paper · 9aQw…cuSq · 8 days · Standard

Solana DeFi stack

$10,551.24

+5.51% since deploy

24h−1.15%

7d+2.83%

Cash14%

You think activity on Solana keeps concentrating in the trading stack. JUP and RAY are the two venues people already use. JLP is liquidity behind a lot of that flow. JTO sits next to Solana staking. SOL is the gas and the base asset. PYTH is how the stack agrees on a price. USDC is the cash buffer. The book follows the pipes.

Bought JUP, RAY, JLP and 4 more · paper. Marked with Jupiter prices.

Holdings

JUPRouting18%$1,872.26−11.7%

JUP is the main routing venue on Solana.

RAYExchange16%$1,700.52−12.1%

RAY is Raydium, the other exchange that already clears flow.

JLPLiquidity16%$1,697.60−1.27%

JLP is the liquidity behind a lot of that flow.

JTOSecurity14%$1,444.99−5.92%

JTO sits next to Solana staking, which the stack rests on.

SOLSettlement14%$1,482.54−2.30%

SOL is the gas and the base asset of the stack.

PYTHPrices8.2%$867.90−2.54%

PYTH is how the stack agrees on a price.

USDCCash14%$1,485.43+0.01%

USDC is the cash buffer.

Fork

Thesis · The Solana DeFi stack keeps taking flow