Solana’s promise is to enable anyone with internet access to participate in the Capital Market.
Original Title: “Solana Fndn 2025 Marketing Memo”
Authored by: akshaybd
Compiled by zhouzhou, BlockBeats
Editor’s note: Solana has been performing exceptionally well in this cycle, with intense on-chain meme trading and continuous pumping of token prices. This can be attributed to the Solana Foundation’s focus on improving infrastructure performance, dropping latency, to meet market demands and drive the growth of founders, applications, and tokenization projects.
The following is the original content (for easy reading comprehension, the original content has been edited):
Internet Capital Market and F.A.T. protocol Engineering
Solana’s promise is to enable anyone with internet access to participate in the Capital Market. Now, all you need to do is download a Wallet or application, click a few buttons, and you can join the internet Capital Market - a globally accessible ledger that can tokenize assets, currencies, and cultures.
Why is this important?
It helps us create a world where anyone can have assets anytime, anywhere with just an internet connection. These assets can be global companies, real estate, commodities, or even cultural expressions. This lays the foundation for ‘universal basic ownership.’ The competition for high-performance L1 is not just to establish a Decentralization Nasdaq, but to create a successor to the internet-native Nasdaq - a Capital Market with better accessibility, lower latency, and shared global Liquidity.
The opportunity is both simple and enormous: currently, only about 15% of the global population can participate in the US Capital Market - the market with the strongest liquidity in the world. Many other countries’ Capital Markets lack liquidity, have high entry costs, and low settlement efficiency. The Cryptocurrency market is more accessible and liquid. At its peak, its volume even exceeds NASDAQ and NYSE. We have the opportunity to build the best Capital Market on the Internet.
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In the future, the company will go public directly ‘on the internet’ and be able to connect with over a billion investors who hold Private Keys - using their funds to vote on the future they desire. This includes not only stocks, but also all valuable asset classes, cultures, and ideas.
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How to accelerate towards this future?
This is the significance of the F.A.T. protocol project. In the past, this industry was mostly built on the concept of ‘value will primarily be concentrated in the infrastructure layer’ (Fat Protocols, 2016). 8 years later, we are still building infrastructure because it often attracts higher valuations.
In contrast, Solana’s ecosystem chooses to bet on products, which was demonstrated at the Breakpoint Conference in 2024. By focusing on founders, applications, and tokenization, Solana’s share in the transaction fee market - an excellent indicator of ecosystem activity and overall health - rose by 1,489% in 2024, reaching 12%.
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F = Founder, not just a developer
Now, for a group of determined founders, it has never been so simple and fast to go from starting a business in a garage to becoming a billion-dollar company with just an internet connection.
1.tensor: The company, founded by two Canadians, is valued at $445 million.
2.pump.fun: The UK team has achieved a transaction fee revenue of $155 million in 8 months.
3.birdeye: Headquartered in Vietnam, the user base reached 24 million in 2024
The startup flywheel will continue to run at high speed in 2025, and the colosseum hackathon (Solana’s hackathon) is the largest talent discovery and talent growth plan in the encryption field. Its past participants have accumulated $650 million in financing.
This flywheel benefits from the ecosystem support built for scalability: from superteam’s hub, shipyard’s workspace, to solanaturbine accelerator, community-driven infrastructure further accelerates the founders’ growth rate.
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A = Application, not just infrastructure
Infrastructure represents uncertain optimism, while applications represent certain optimism. The Solana ecosystem prioritizes products that users truly need. What are the results?
In October alone, application revenue reached 73 million dollars, an increase of 185 times compared to the same period last year, and is now leading all networks. In addition, 74% of the funds in the ecosystem flowed into applications (compared to 40% for Ethereum), because the founders followed the users’ needs.
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Solana has always adhered to the belief that what matters is not TVL, but the gathering place of economic activities. Chain GDP (revenue generated by applications) is the main indicator for measuring the long-term success of the protocol. When the revenue generated by applications exceeds that of the underlying layer, it means that the protocol layer has reached product-market fit. If your underlying infrastructure layer is exploitative, applications will leave and either establish their own chain or migrate to another on-chain.
Study the Laffer Curve.
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T = tokenization, not just TVL
TVL is a passive, self-referential indicator. Active indicators such as capital efficiency and volume are more informative. The ultimate goal is: Solana is the best platform for internet asset issuance. In the past 6 months, we have witnessed the release of 2.6 million Tokens, accounting for 78% of the total number on the chain. While memes may occupy a larger share in public consciousness, they are not the only things rising.
The national treasury balance has doubled to $134 million, and the stablecoin has risen 120% to about $4 billion, including 4.2k physical assets from BAXUSco and dvinlabs, 190 million digital collectibles from drip haus, and over 1 million hotspots from Helium, to name just a few examples.
With adoption, tools, and regulatory follow-up, super tokenization will accelerate development - this will become a globally accessible ledger, where all assets will be tokenized.
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Each part of F.A.T. promotes each other: more founders launch products, more products attract users, more users drive more capital tokenization, more capital attracts more founders. In the third quarter of 2024 alone, the native Solana team raised $178 million.
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The “protocol” part of the F.A.T. protocol in the engineering
Teams focused on core protocols (such as Anza, Jump, Jito, etc.) are working hard every day to improve performance and optimize the experience. They are pushing the limits of hardware and software to enhance the performance and capacity of Solana at the foundational level. Increasing bandwidth and reducing latency are key strategies for Solana, emphasizing its continuous commitment to practical infrastructure development rather than purely for valuation.
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Finally, I call it engineering (rather than theory) because it elucidates an important value inherent in the ecosystem. A product culture that is opinionated yet pragmatic, making difficult trade-offs persistently, launching and iterating in the real world to find product-market fit (PMF). This culture attracts practitioners, not just academics.
As the ecosystem continues to grow, we should maintain this culture instead of becoming dogmatic or worse, complacent due to any temporary success. The development of crypto assets is rapid, and we will always remain flexible.
Currently, it is expected that the Foundation’s marketing activities will support these core pillars through various events and content - in the process, we celebrate the best founders, applications, and tokenization projects, while each team continues to strive to improve the speed and performance of Solana. In addition, given that the innovation renaissance seems to be unfolding in the United States, we will also refocus on the US market.
