Solana Founders Express Optimism for Meme Coins and Underrated Payment Potential, Survey Reveals

• A recent survey of 42 Solana founders reveals significant support for meme coins and highlights the underrated capabilities of the blockchain’s payment system.

• This candid poll illustrates a collective distaste for Pump.fun and demonstrates that concerns about a supposed “Solana cabal” are largely unfounded among these founders.

• Notably, founders credited Multichain as the premier crypto venture capital firm, while Binance Labs faced substantial criticism in the same survey.

This article analyzes insights from a recent survey of Solana founders, shedding light on community sentiments regarding meme coins, VCs, and more.

Insights from the Solana Founders Survey

The survey, conducted by journalist Jack Kubinec, collected responses from 42 founders associated with the Solana blockchain, a key player in the crypto landscape. Despite the anonymity of these founders, their collective insights provide a unique perspective on the current state of the blockchain and identify trends within the ecosystem. “I anonymously polled 42 Solana founders to get their unfiltered opinions on other chains, VCs, startups, the cabal, and more. Responses were spicy!” shared Kubinec, indicating the survey’s potential impact.

In a striking consensus, over 50% of the founders indicated they would choose either Base—a rising blockchain showing significant user growth—or SUI if they were to work on a different blockchain. This pronounced preference strengthens the argument that developer loyalty can shift rapidly in the ever-evolving crypto market.

Moreover, when discussing Solana meme coins, an impressive majority—32 out of 42 founders—considered these assets “mostly good for Solana.” This positivity towards meme coins stands in contrast to the nearly equal split of opinions regarding concerns about the so-called “Solana cabal,” with only one founder deeming it a significant issue.

Solana Meme Coins and Ecosystem Among the Top 20 Crypto Narratives of 2024. Source: CoinGecko

The survey revealed additional insights regarding the founders’ views on cryptocurrency venture capital. The founders unequivocally rated Multichain as the best venture capital player in the crypto space, while Binance Labs attracted the most unfavorable feedback. Concerns were also expressed about risks posed by sandwich attacks within Solana’s ecosystem, although opinions varied on the perceived immediacy of this threat. Furthermore, lingering reputational damage from connections to FTX was cited as an ongoing concern.

An intriguing aspect of the survey probed which Solana startups the founders would prefer to join. Jito emerged as the most favored choice, while there was clear disfavor towards Pump.fun; many founders expressed an unwillingness to affiliate with this startup. Additionally, the responses indicated skepticism toward AI agents, which several founders deemed overrated despite AI’s prominent role in the broader crypto discourse for 2024.

The Future Outlook for Solana

This survey provides essential insights into how Solana founders view their ecosystem and the broader cryptocurrency landscape. Despite the anonymous nature of the feedback, the data illustrates an optimistic yet cautiously realistic perspective on Solana’s unique characteristics and challenges. The strong endorsement of meme coins as being beneficial for Solana could signal upcoming projects focusing on this aspect to drive community engagement and market sentiment.

Conclusion

In conclusion, the findings from this survey highlight not only the sense of community among Solana’s founders but also their proactive approach to addressing the blockchain’s reputation and challenges. While concerns about certain startups and practices linger, the optimism surrounding Solana’s capabilities and potential remains vibrant. As the crypto market shifts continuously, understanding these insights could be key for investors and developers alike looking to navigate the evolving landscape.