Lightspeed SOL Needs More Than DAT | Anna Yuan
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Aug 19, 2025 Anna Yuan, founder of Perenna and former Stablecoin lead at the Solana Foundation, dives into the crucial need for a digital asset treasury (DAT) strategy within Solana. She discusses the lessons Solana can learn from Bitcoin and Ethereum, and why its DATs are lagging behind. Yuan also examines the role of institutional liquidity for stablecoins and the nuances of collaboration in the DeFi landscape. The conversation highlights Solana's journey from a meme coin perception to a serious player in the blockchain space, emphasizing the importance of innovative financial products.
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Talent Gap Slows Solana DAT Growth
- Solana lacks the TradFi talent funnel that helped Ethereum DATs form quickly.
- That structural youth makes Solana DATs smaller and slower to scale.
Stablecoin Lead Witnessed Liquidity Problems
- Anna describes her time leading stablecoins at Solana Foundation during FTX fallout and market maker disengagement.
- She saw firsthand how lack of institutional support and liquidity constrained Solana's growth.
Institutional Skepticism Limits Capital Inflows
- Solana has not yet proven long‑term product‑market fit to institutional allocators despite user activity.
- Institutions view SOL as younger and riskier compared with ETH and BTC, hurting large capital flows.