Why Solflare Thinks the Bear Market Is an Advantage | Vidor Gencel

Sep 11, 2025

Vidor Gencel, Co-Founder of Solflare, discusses his journey building one of the leading crypto wallets in the Solana ecosystem. He shares how the bear market has become a catalyst for innovation and user-focused design. Vidor highlights the importance of self-custody and the advanced security of their Seed Vault integration. He emphasizes Solflare's adaptability to user needs and the community's resilience during market fluctuations. Exciting plans for stablecoin yields and collaborations with Solana Mobile add to his optimistic outlook for the future.

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INSIGHT

Build During Downturns

Crypto markets are cyclic and growth is non-linear, with startups facing repeated downturns.
Solflare doubled down during bear markets by building tech and features, then benefited when markets recovered.

ANECDOTE

From Early Crypto Dev To Solflare

Vidor describes his path from early Bitcoin and Ethereum development to running validators on Solana.
That experience led the team to build Solflare, which became Solana's first web wallet and later a mobile wallet.

INSIGHT

First Mover On Solana UX

Solflare focused on Solana because the chain lacked a user-friendly wallet interface.
They released the first web wallet in 2020, a browser extension in 2021, and a mobile wallet in 2022.

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In this episode, Vidor Gencel, Co-Founder of Solflare, shares the journey of building one of the most widely used crypto wallets in the Solana ecosystem.

This episode is a part of the Solana Sessions campaign that Token Relations and the Talking Tokens podcast are doing, diving into founders’ journeys and startups building on Solana.

Solflare has over 4 million users and manages billions in assets. He discusses how crypto’s cyclical nature shaped Solflare’s growth approach, emphasizing the importance to innovate even during bear markets. Vidor explains the crucial role of self-custody, how the wallet adapts to diverse user needs globally, and the importance of seamless user experience. Hear about Solflare’s integration with Solana Mobile’s Seed Vault on Seeker and its flagship Saga device, the team’s focus on security with multi-wallet support, and plans for stablecoin yield and debit cards. He also shares insights on product design, lessons from both successes and challenges, and his optimistic outlook on Solana’s technical progress. This episode is sponsored by Fireblocks, the stablecoin infrastructure of choice for top global businesses, from Visa and Worldpay to Bridge and Revolut. Learn more at fireblocks.com.

⏱️ Timestamps

(00:00) - Intro

(01:01) - Vidor's early Web3 journey and technical background

(02:24) - What inspired Solflare’s creation on Solana

(03:32) - From initial release to 4 million active users and $15B assets managed

(04:38) - Market-driven feature focus: staking, trading, and onboarding tailored to trends

(06:03) - Empowering users to own their crypto assets

(07:40) - Overcoming fear of self-custody in mainstream audiences

(09:52) - Community-driven development through user feedback

(12:36) - Adapting to diverse user roles

(14:28) - Integrating with Solana Mobile’s Seeker Seed Vault and Saga device

(17:03) - Hot wallets, hardware wallet support including Ledger, Keystone, and Saga

(20:16) - Product strategy on Solana and perspective on multichain future

(22:14) - Lessons from limit orders and cautious stance on perpetuals

(26:06) - Stablecoin management trends and rollout of self-custodial debit cards

(28:50) - Thoughts on Solana’s network upgrades

(31:52) - Vidor’s closing advice

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