🗞️ Solana Weekly News
Solana’s aggregators thrive amidst market volatility, Jupiter DAO overhauls its governance model, and Visa bullposts Huma Finance
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Markets are in no-man’s land. Sentiment is flipping between “it’s over” and “we’re so back” faster than normies can panic sell the gold they were lining up for last week, and the fabled Q4 bullrun looks uncertain.
Despite the carnage, Solana’s DeFi scene appears to be maturing. Volume is shifting away from memecoins and gravitating to the HFT world of Prop AMMs and institutional-scale arbitrage. As a result, Solana’s aggregators are eating.
Jupiter is desperately trying to realign $JUP and the Catdets, while Visa is highlighting Huma Finance for its generous stablecoin lending APYs
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Solana’s aggregators are the face of onchain markets, routing over 70% of trading volume of the network’s trading volume to decentralized exchanges. Jupiter still dominates over 80% of aggregator market share, but rivals like DFlow and Titan are closing the gap, commanding 12.2% and 6.5%, respectively.
Prop AMMs have emphatically asserted their position as Solana’s most efficient and liquid trading venues. The likes of HumidiFi, SolFi, and Tessera now account for over 75% of onchain DEX volume, leaving public-facing platforms like Raydium, Orca, and Meteora fighting over long-tail assets like memecoins.
After weeks of grumbles and complaints from token holders, Jupiter is making some big changes to $JUP’s role in the ecosystem. Alongside dropping the $JUP unstaking period from 30D to 7D, Jupiter DAO will only vote on “high-leverage” actions, eliminating low-importance proposals and reducing voter fatigue.
Perhaps most importantly, Jupiter also shared that its next governance proposal would concern the 121M $JUP tokens accumulated through protocol buybacks. Many $JUP holders have argued that these tokens, representing 3.8% of the circulating supply, should be burnt to promote scarcity.
Yes, you heard correctly, there’s another Solana-based card. Gemini has launched its official Solana card, offering users up to 4% cashback rewards on purchases. One of the card’s more unique aspects is that all $SOL earned through rewards is automatically staked, giving users additional staking yield.
Gemini’s new Solana card comes amidst the exchange’s wider push into the ecosystem. Gemini recently enabled Solana-based support for stablecoin transfers, alongside the launch of its institutional $SOL staking and custody platform in June.
Hitting the fabled 100x in onchain markets is elusive, but far from impossible. Instead of blindly aping funny memes that the group chat told you “could send”, copy trading helps you follow the behavior of wallets with proven, profitable records.
Vybe is one of Solana’s foremost applications for separating the signal from the noise and identifying the network’s best wallets. While copy trading is hardly a guaranteed path to profits, Vybe does a lot of the heavy lifting for you, indexing PnLs, win rates, and network graphs to give traders a more comprehensive view of the trenches.
Visa (yes, that Visa) recently published a research report outlining the emerging opportunities in the onchain stablecoin lending scene.
The TradFi payment giant celebrated Huma Finance’s PayFi network as one of the great success stories of stablecoin lending. Huma has enjoyed frenetic growth in 2025, processing over $500M in monthly transaction volume, with over $140M in active liquidity.
After having been beaten down and bled dry by the memecoin trenches, Solana’s speculators seem to have something to believe in again. Led by MetaDAO and Metaplex, Solana is enjoying its very own ICO boom, with teams like Umbra raising over $3M in its presale (after returning $151M to depositors).
MetaDAO has since generated over $470k in revenue, while Metaplex’s Genesis launch stack has also attracted a wealth of startup ventures with proven revenues. ICOs are becoming more popular, meaning that it likely won’t be long before we see “permissionless ICO” launchpads hit onchain markets.
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