What is Solana?

Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is an open-source project currently run by Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs. Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees than rival blockchains like Ethereum. 

What is DEFI?

Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain.

What is Mango Markets?

Mango Markets is a decentralized exchange (DEX) on the Solana blockchain that offers traders up to 20x leverage on popular trading pairs.

Methodology

In this dashboard, we will look at the Defi activity and the NFT activity on Solana. We Are looking to see what effect the Mango market hack on October 11th has had on the Solana ecosystem.

Sections

1. Defi activity by protocol
2. Defi activity Pre/Post Hack
3. Solana NFT activty Pre/Post Hack 

Defi activity by protocol

Observations

• During the day of the Mango Market hack, the number of users on Jupiter dex went up 300%.
• After the hack, Defi transactions across protocols have dropped off.
• Jupiter has had the most active users recently with serum in second.
• Since September 1st there have been 612 Million Defi transactions on Solana.

Defi activity Pre/Post Hack

Observations

• since the hack, there has been a significant decline in daily Defi transactions on Solana per day.
• The number of Defi users per day has actually increased per day since before. This could be due to people moving their money out of defi protocols on Solana.

Solana NFT activty Pre/Post Hack

Observations

• In terms of users, volume, and sales the NFT sales activity on Solana has decreased since the Mango hack.
• Since the Mang hack, the number of buyers of Solana NFTs has dropped from 16K to 10K

Conclusion

• Defi activity by protocol
  • During the day of the Mango Market hack, the number of users on Jupiter dex went up 300%.
  • After the hack, Defi transactions across protocols have dropped off.
  • Jupiter has had the most active users recently with serum in second.
  • Since September 1st there have been 612 Million Defi transactions on Solana.
• Defi activity Pre/Post Hack
  • since the hack, there has been a significant decline in daily Defi transactions on Solana per day.
  • The number of Defi users per day has actually increased per day since before. This could be due to people moving their money out of defi protocols on Solana.
• Solana NFT activty Pre/Post Hack 
  • In terms of users, volume, and sales the NFT sales activity on Solana has decreased since the Mango hack.
  • Since the Mang hack, the number of buyers of Solana NFTs has dropped from 16K to 10K