Solrise Finance (‘Solrise’) is an asset management and investment protocol built on Solana for fund managers and investors.
Solrise is designed as a low cost, simple and trustless way to create asset management strategies (aka funds). Solrise started in March 2021. The team previously built Solana-based utilities such as Solflare wallet and Solana Beach analytics.
Price on 10/30/21: $0.48
What is the use case?
Users can either create their own fund or choose someone else’s fund to invest in.
What problem does Solrise solve?
Solrise allows anyone (with the skills/experience) to create strategies (aka “funds”) for others to participate in as a fully decentralized, non-custodial approach. This allows performance to be tracked in a transparent way to ensure their fund managers perform to expectations.
Token
Solrise Finance’s native token is (‘SLRS’) and is a fungible SLP token that provides three main functions from payments, staking, to governance.
Maximum Supply: 1B
Distribution: The SLRS token will be distributed as follows: Team (20.00%), ecosystem incentives (30.00%), foundation(30.03%), fundraise(11.97%), liquidity(5.00%) and advisors(3.00%).
Development Team
Solrise has a fully doxxed team with strong initial developers including the team behind Solflare wallet. They also have connections in the space with partnerships from Delphi Digital, Para Capital, Aladea Research and DeFi Alliance. The team appears to have an established reputation inside the Solana ecosystem.
Investors
Solrise has raised capital from an IDO launch on Raydrium in June and later, a $3.4M private round in July from proponent investors such as Alameda Ventures, Delphi Digital, ParaFi Capital, Sky Vision Capital and CMS Ventures.
Pros
- Lower cost: Users can create, enter and exit funds for under $0.01c.
- Doxxed team: A common risk with using Solana is the rise of anonymous developers and teams (especially in the NFT space).
Cons
- There is a limited early circulating supply. This is early, with only 5% of the token supply in circulation and initial tokens in circulation via the public sale, giveaways and SLRS early rewards. The price will likely remain volatile. Token vesting from the core team is spread out over 3 years.
- Solrise is behind the ball with dHEDGE in terms of development and users.
- They may not have a lot of funds in USDC, only raising $3.6M fiat. Having a majority of funds in its native token could be a risk in a bear market during a price fall – which could reduce protocol development runaway.
DYOR
Website
Vision Document – Solrise Finance
Home / Solrise
CoinGecko
SLRS Token Utility
Tokenomics
