From Marinade Finance to Jito, a look at LSD projects on the Solana chain

Solana faced significant challenges after the FTX bankruptcy, where the price of the SOL token plummeted to $8, a drop of more than 95%. Despite this, the Solana ecosystem and its large community demonstrated remarkable resilience. During this period, the number of users surpassed one million, the number of developers exceeded 2,000, and new DeFi and NFT projects continued to emerge from the ecosystem.

The rebound in Bitcoin prices has led to a strong rebound in Solana tokens, with prices up more than 200% in just two months. the Grayscale Solana Trust is trading at a premium of up to 800%, demonstrating the market's optimistic expectations for Solana's long-term future.

On the Solana network, there are currently 295.7M SOL pledged, but the use of its liquidity pledge derivatives is still relatively limited. during the FTX event, Solana's liquidity pledge TVL fell from a peak of 12.8M SOL to a low of 5M SOL, but has since recovered to around 12M+ SOL. the recently launched Jito pledge service has since its launch accumulated over 44.86M USD (2.3M SOL) in TVL.