Solana is the 2nd largest decentralized ecosystem in the crypto world. This giant blockchain which saw the light of day in 2020 brings together hundreds of projects. Among them, 42 entrepreneurs came forward anonymously to share their vision on the world of blockchain and Web3.
Forty-two Solana founders talk about the rest of the ecosystem
Solana is the 2nd largest decentralized ecosystem after Ethereum. On the Solana blockchain, one can build DEXs, stablecoins, payment infrastructures, NFTs, etc.
All this makes Solana one of the most abundant startup ecosystems on Web3. And what do the founders of Solana think of the rest of the ecosystem?
As professionals in the sector, as builders who have gone through a trying bear market, their vision of the ecosystem is particularly interesting.
🧠 What is the Solana blockchain? Discover our detailed article!
Whether on the competition or on certain applications developed at Solana, 42 founders took part in the exercise of anonymously answering 12 questions proposed by Jack Kubinecjournalist at Blockworks, a media outlet itself developed in the Solana ecosystem.
To the first question “ If you had to do business on a network other than Solana, which one would you prefer? », the vast majority of them answered Base and Sui.
Base is the network of the Coinbase exchange platform and Sui is a blockchain built by former Meta engineers. The 2 blockchains are respectively 6th and 8th in the ranking of decentralized ecosystems on DefiLlama.
“If you had to build on one blockchain, other than Solana, which one would you choose? »
The journalist also probed the political orientation of entrepreneurs. Between the Democratic and Republican parties, there is no difference: only 3 founders prefer the Democrats. Republicans attracted 21 of those surveyed, and 18 declared themselves independent.
Next comes the subject of Crypto VC, these entities which provide cash to projects to enable them to develop. Of the 39 who responded, 11 said “ have a high opinion » by Multicoin, and 7 for 2nd on the podium, a16z.
Conversely, when asked which Crypto VC they have “ the least good opinion “, Binance Labs comes first with 9 votesfollowed by 6th Man Venture and Hack VC, each with 8 votes. Paradoxically, 6th Man Venture came 3rd among the favorite Crypto VCs.
“Which Crypto VC do you have the worst opinion of? »
One of the founders interviewed specified that the Crypto VCs of which he had the worst image were the “ Asia-based VCs who only ape in based off who the lead is “, in other words Asian VCs who invest without thinking, by simply betting on the big names.
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Does Solana’s secret cabal really exist?
To continue his investigation, Jack Kubinec then addressed the subject of the mysterious cabal of Solana which is suspected of promoting certain projects to the detriment of others.
Twenty-five of the 42 founders responded. Among them, 9 declared that this cabal did indeed exist, but that he was not part of it. Eight declare that it exists and that they are part of itand 8 others declare that it does not exist.
One founder clarified this question, defining this cabal as “ a network of personal relationships built between veterans and those who have passed through the bear market.”
However, it brings some nuance: these links were formed naturally between the different entrepreneurs in the networkand this has nothing to do with a secret circle “ with malicious intentions “.
According to him, only 2 criteria are used by the Solana Foundation to push one project over another: “ if what he's building is cool, and the authenticity of the team “.
“What is Solana’s biggest problem right now? »
Next come questions about Solana's challenges, with 3 major problems pointed out : MEV/Sandwiching for 9 people, network congestion issues and association with memecoins for 8 people.
However, 32 of them consider that memecoins are a good thing for Solana, even if the startup where they would least like to work is Pump.fun.
“Which sector of Solana is the most overrated? »
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And what is the most overpriced sector at Solana? Tied between AI Agents and Blinks, with 7 votes each. Conversely, the underrated sectors are payments for 12 founders, followed by DePin with 8 votes and stablecoins with 6 votes.
Finally, last but not least question, Which event did the most damage to Solana's reputation?
For 13 of them, it is the association with the fallen platform FTX. One of the founders confesses with bitterness: “ FTX was the best thing in the early days then it became the worst lol “.
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Source: Blockworks
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Cryptocurrency expert, Marc-Antoine began his journey in Web 3 alongside David Prinçay (current president of Binance France) in the French Cryptocurrency Club. Since then, it is by writing articles in the best-known crypto media in France that he has spread the good word. If you've read an article about crypto, there's a good chance you've read one of his articles. NFT, Blockchain, Web 3, DeFi, there is no sector that is foreign to it. And don't ask him what the next coin to buy is: it's a maximalist Bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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