Digital asset trading platform STARDEER has announced a $10 million fund to support projects in the Solana ecosystem. 

The fund will support new businesses, offer liquidity, and encourage developers to build innovative applications on Solana (SOL), according to STARDEER’s press release dated Mar.18.

Due to its reputation for fast transactions and low costs, Solana has attracted developers and users from all over the world. However, many projects struggle with early funding and market exposure. By providing both financial and technical support, STARDEER’s fund seeks to address these issues.

The fund will focus on four key areas. First, it will offer early-stage funding to support the development of new Solana projects. Second, to boost market activity and attract users, it will provide liquidity incentives.

Third, it will incentivize developers to build high-quality decentralized applications and financial tools. Finally, STARDEER will provide zero-fee listing on its platform to support new projects.

Solana has a lot of potential for innovation, according to a STARDEER’s chief executive officer, who stressed the significance of this initiative. 

“The innovative potential of the Solana ecosystem is immense. We hope to support the growth of outstanding projects through this special fund and help global investors discover and invest in quality assets within the Solana ecosystem.”

— STARDEER CEO

In addition to the fund, STARDEER has introduced a dedicated Solana trading section with a temporary 50% fee reduction. This initiative covers the trades of several Solana ecosystem tokens such as Jupiter (JUP), Bonk (BONK), and Raydium (RAY), among other tokens. The goal is to improve liquidity and make trading more accessible.

On Mar. 17, Solana celebrated its fifth birthday, which was a significant milestone in its development. Over the years, the network has processed over 400 billion transactions, resulting in a nearly $1 trillion trading volume.

Despite the market downturn, Solana remains one of the busiest blockchains. It registered a 30-day trading volume of $105 billion in February, according to DefiLlama data. STARDEER’s new fund is expected to further support this momentum.