In the fast-paced world of blockchain, Solana is making waves again. A recent tweet from Solana Legend, co-founder of Frictionless Capital and MonkeDAO, highlights some eye-popping stats about trading decentralized apps (dApps) on the Solana network. For those new to the term, dApps are applications that run on a blockchain, offering decentralized services like trading without a central authority.

Here's what Solana Legend shared in his post on X:

"In August, trading dApps on Solana earned $85m of revenue on $8b of volume implying ~1% margins on trades

100 bps is savage profitability. For context this is 10x higher than the fees on spot on Binance (0.1%)

As more assets come onchain, we can expect volume numbers to >10x"

Breaking it down: Solana's trading dApps, which include popular decentralized exchanges (DEXes) like Raydium and Orca where a lot of meme token action happens, pulled in $85 million in revenue from $8 billion in trading volume last month. That works out to about 1% in fees— or 100 basis points (bps), where one basis point is 0.01%. That's a hefty margin compared to traditional centralized exchanges.

To put it in perspective, Solana Legend compares it to Binance, one of the biggest crypto exchanges out there. Binance charges just 0.1% for spot trading fees for regular users, as shown in this screenshot from their fee schedule:

So, Solana's dApps are charging 10 times more in fees and still thriving. Why? Because Solana's speed and low transaction costs make it a hotspot for high-volume trading, especially in the meme token space. Meme coins like Dogwifhat or Bonk often launch and trade on Solana DEXes, drawing in traders looking for quick flips and viral projects.

Why This Matters for Meme Token Enthusiasts

If you're into meme tokens, this is huge. Higher fees mean more revenue for the protocols, which can fund better development, liquidity incentives, and community rewards. But it also shows the maturity of Solana's ecosystem—traders are willing to pay a premium for the decentralized experience, avoiding the risks of centralized platforms like hacks or downtime.

Community reactions echo the excitement. One reply from CryptoLady_M noted, "That's impressive! Solana's dApps are clearly thriving. Expecting that volume to skyrocket is just common sense." Another user, SKYLINE, simply stated, "Solana will never disappoint." It's clear the Solana community is bullish on this growth.

Looking Ahead: 10x Volume on the Horizon?

Solana Legend predicts trading volumes could multiply by more than 10 times as more assets move onchain. What does "onchain" mean? It refers to assets and activities happening directly on the blockchain, like tokenizing real-world assets (RWAs) such as stocks or real estate. As traditional finance creeps into crypto, Solana's efficient network could capture a big slice of that pie.

For meme token creators and traders, this could mean even more liquidity and opportunities. Imagine meme coins tied to real-world events or assets, traded seamlessly on Solana DEXes. But keep in mind, higher volumes might also lead to network congestion, though Solana's upgrades like Firedancer aim to handle that.

At Meme Insider, we're all about keeping you ahead in the meme token game. Stay tuned for more updates on Solana's ecosystem and how it intersects with the wild world of memes. If you're building or trading on Solana, drop us a line—we'd love to feature your story!