Lightspeed
An Update On The Solana Thesis | Santiago Santos
Feb 14, 2025
Santiago Santos, Founder of Inversion Capital and co-host of the Blockworks podcast Empire, dives into the crucial moment for crypto adoption. He shares insights on his evolving Solana thesis and the future of meme coins and user retention. The conversation highlights the importance of financial education and programmable money in reshaping finance. Santiago also addresses the complexities of risk management in crypto investing, emphasizing caution in volatile markets while calling for innovative strategies to ensure long-term success.
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Quick takeaways
- User retention in crypto is crucial, as many new users attracted by meme coins fail to engage long-term, highlighting onboarding flaws.
- Utilizing existing businesses to integrate crypto solutions can simplify adoption and attract traditional users, enhancing their transition into digital finance.
Deep dives
Reassessing Crypto Onboarding Events
The conversation highlights a recent spike in user engagement on Solana due to the launch of a meme coin associated with former President Trump. Despite initial excitement surrounding it as a potential onboarding event, metrics indicate that the significant inflow of users did not lead to sustainable engagement or economic value on the platform. Instead, most users did not stick around after the initial enthusiasm faded, highlighting flaws in the current onboarding funnel in the crypto space. This situation suggests that better onboarding experiences are necessary to convert new users into active participants in the crypto ecosystem.
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