Unconfirmed: SOL Is Up 3,800% YTD. Could It Eventually Displace Ethereum? - Ep.265
Unchained
Exploring DeFi Innovations on Solana
This chapter examines the rapid growth of decentralized finance protocols on the Solana blockchain, including significant events like the funding of Mango and challenges faced by the Degen Apes NFT drop. It compares Solana and Ethereum, highlighting Solana's advantages for complex DeFi applications and the emergence of innovative projects for creator monetization.
SOL is up 75% over the past seven days, 205% in the past month, and 3,800% YTD. On Unchained, Multicoin Capital’s Kyle Samani discusses the DeFi projects fueling Solana’s growth, why he thinks Solana could make Ethereum obsolete, and the spectrum of decentralization. Show highlights:
- what factors have contributed to SOL’s growth this year
- what two milestones occurred last week that Kyle thinks supercharged SOL’s popularity
- why Kyle thinks the issues with the Degen Ape Academy NFT drop were not actually a problem with the Solana blockchain
- what projects will be possible on Solana that are impracticable on Ethereum
- why Kyle thinks some combination of NFTs and social token apps will be the first breakout app on Solana
- why Solana decreases the risk of massive liquidations -- like the crypto industry saw on Black Thursday in March 2020
- how Solana and Ethereum differ in regards to composability and fragmentation
- what BitClout has to do with Kyle’s Solana investment thesis
- why Solana could be the basis for the next crypto bull run
- why Kyle thinks the Ethereum merge as it completes transition to Ethereum 2.0 will not really affect Solana
- how the competition between Solana and Ethereum could play out in the next 12 months
- why Kyle is not overly concerned about Solana being more centralized than Ethereum
- what the Solana versus Ethereum competition will look like going forward, and why Solana may have the upper hand
- what Kyle learned from his investment in EOS
Thank you to our sponsors!
Sorare: https://sorare.com
Polymarket: https://polymarket.co/unconfirmed
Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021
Episode links
Kyle Samani
- Twitter: https://twitter.com/KyleSamani
- Multicoin Capital: https://multicoin.capital/
Previous Unchained appearances:
- May 2021: https://unchainedpodcast.com/how-solana-and-binance-smart-chain-could-take-ethereums-lead/
- April 2020: https://unchainedpodcast.com/the-most-forkable-defi-protocols-on-ethereum/
- March 2020: https://unchainedpodcast.com/teetering-on-the-edge-how-black-thursday-exposed-the-flaws-in-the-crypto-markets/
- January 2020: https://unchainedpodcast.com/kyle-samani-on-how-2020-will-be-the-year-of-small-success-stories/
- March 2019: https://unchainedpodcast.com/how-binance-could-become-the-first-decentralized-autonomous-corporation/
- June 2018: https://unchainedpodcast.com/multicoins-kyle-samani-on-why-he-believes-bitcoin-governance-doesnt-accommodate-the-real-world-ep-025/
- May 2018: https://unchainedpodcast.com/multicoin-on-the-1-thing-crypto-teams-miss-in-their-quests-for-success/
Solana
- Twitter: https://twitter.com/solana
- Recent updates: https://solana.com/news/solana-ecosystem-news/
- Website: https://solana.com/
Recent SOL boom
- https://twitter.com/JohnStCapital/status/1427088119870935047
- https://www.ar.ca/blog/11-thoughts-during-a-digital-assets-bull-market
- https://www.forbes.com/sites/ninabambysheva/2021/08/16/solana-hits-new-all-time-high-above-60/
- https://twitter.com/KyleSamani/status/1425282669630328841
Projects
- Saber (AMM/DEX) growth
- Audius
- Degenerate Ape Academy
- Mango Markets
- Wormhole
Multicoin’s Solana material
- https://multicoin.capital/2021/05/04/announcing-venture-fund-ii/
- https://multicoin.capital/2019/03/14/on-value-capture-at-layers-1-and-2/
- https://multicoin.capital/2019/07/30/the-world-computer-should-be-logically-centralized/
Solana overview
- https://thedefiant.io/solana-defi-ecosystem-overview/
- https://research.thetie.io/solana-ecosystem/
- https://research.binance.com/en/projects/solana
- https://medium.com/coinmonks/solana-more-update-for-sol-becb65024877
- https://genesisblockhk.com/what-is-solana/
Block explorers
Submitted questions from Unchained listeners
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