Solana is one of the most scalable and most popular blockchain networks today. It emerged in order to offer users an alternative to Ethereum, which struggled with scalability, transaction processing speed, extremely high gas fees, and more, for years now. However, over the last few years, these issues became unbearable, and Solana started attracting users who were seeking out a better, more convenient network.
As a result, Solana started seeing rapid development that allowed a number of unique, interesting, and highly useful projects to emerge. One of them, called Solanium, aims to become Solana’s go-to platform and allow users to participate in public raises of top-tier projects, engage in staking, trading on the platform’s DEX, and more.
Given its potential, we were interested in learning more about the project and what it has to offer, hence this guide on Solanium that will tell you everything you need to know about it.
How Does Solanium (SLIM) Work?
Solanium is a Solana-based project that aims to be the go-to platform for all Solana users. It offers a number of features and benefits, including a platform that also acts as an accelerator for new projects launching in Solana’s ecosystem, as well as an integrated wallet management service, that allows users to quickly and easily manage their wallets in one place at any time.
Next, it also features a decentralized exchange called Serum, it allows users to access a variety of other DeFi services and features, and it lets users participate in governance by voting on proposals and submitting their own. To do this, they need to stake the project’s native cryptocurrency, SLIM, and receive the governance token xSLIM in return.
Speaking of xSLIM, we mentioned earlier that it had more than one use cases. Other than participating in governance, users also get special benefits, such as early or exclusive pool access, they become eligible to launchpad fee distribution, and they stand to gain better odds in the lottery to win allocation in projects.
What Problems Does Solanium (SLIM) Solve?
To start off, let’s see what problems is the project trying to solve. They might not be considered real problems, but rather things that Solana was lacking until Solanium emerged. For example:
An all-in-one solution
As mentioned earlier, Solanium’s goal is to be an all-in-one solution for Solana’s entire ecosystem. It will offer everything that users could possibly need, including an integrated wallet, transaction management, a decentralized exchange, and access to a variety of DeFi services which we will talk about more next.
Easy access to a variety of DeFi services
Another thing that Solanium is trying to improve is the ability to access DeFi. Specifically, it aims to offer a variety of DeFi-related services, including the mentioned DEX, staking, governance, a launchpad, and more. Typically, projects would offer only one or two types of DeFi-related services, and users would have to engage in different kinds of DeFi activities. However, Solanium wishes to make this simpler as well, hence its decision to pack as many of them as possible into a single platform.
Benefits of Solanium (SLIM)
Now that you know what Solanium wishes to change on Solana, let’s talk about what it can do for you as a trader, investor, and user, specifically. There are several features and benefits that make the project quite worthy of your attention, including:
Access to new coins on Solanium’s Launchpad
Launchpads are nothing new, as members of the crypto industry have been using them for years to get early access to new projects and their tokens. We had IEOs on centralized exchanges, and now IDOs on DEXes, but in the end, the end result is the same — users get to invest in projects that the platforms have checked out and approved for their launchpads, which grants them easy access to new tokens in a safe environment.
Easy wallet management
Furthermore, the platform plans to extend any connected wallet with inline wallet management, so that users would not have to leave the platform in order to check their token balances or even send or receive tokens. They can do all that, as well as manage their token accounts from a single location, which significantly simplifies things.
Of course, experienced users may still choose to manage their wallets through their wallet provider, but even if they do, any changes that they make will be reflected on the platform.
Governance
As mentioned, Solanium also offers users the ability to participate in the project’s governance. If they purchase some SLIM tokens and stake them, they will receive xSLIM in return. This is the platform’s governance token which actually comes with a number of benefits, where governance is only one of them.
When it comes to governance itself, the deal is pretty much the same as everywhere else. Users get to vote on various proposals to introduce changes that would make the platform better, or submit them themselves and have other members of the community do the voting.
Integrated with other ecosystem projects
Solanium’s long-term mission is to make Solana accessible to everyone and anyone. The project has a rather strong focus on user interface and user experience, and it dedicated a lot of time, work, and resources to the development of the best software that would make using Solana and its products/services simple for new and experienced users alike.
Furthermore, the project also established strong partnerships, and integrations in the Solana ecosystem, so that all of this would be possible.
Conclusion
Solanium is a project that aims to complement Solana’s main platform, and make it easy for users to access a variety of services offered by the blockchain. Along the way, it also offers some of its own, which further improve and enrich the UX. As such, it might be one of the biggest and most popular projects on Solana, as the crypto industry is naturally moving towards simplicity that would make it easy for anyone to join and use.
For years now, the members of the crypto industry have talked about how sending and receiving crypto needs to be as simple as sending an email for adoption to grow, and with new services emerging, they need to be included into this ease-of-use mindset. Solanium is trying to make it happen, which is where the project’s true value lies.
