Soul questioning 42 Solana founders' real evaluation of Solana startups and VC

Blockworks conducted an anonymous questionnaire survey on 42 founders of the Solana startup circle, allowing them to vote on other Solana founders, VC investors, and so-called crypto world conspiracy theorists. The voting results raise many thought-provoking issues.

32 out of 42 Solana founders believe that Memecoin is helpful to Solana's development. 40 founders ranked Pump.fun, Wormhole, and Helius as the top three startups they are least likely to join. 9 out of 41 anonymous founders think that MEV/Sandwiching is Solana's biggest problem. Half of the founders (21) prefer the Republican Party. 11 founders have the most opinions on Multicoin Ventures, while 6 founders have opinions on A16z. 7 founders believe that AI Agent is overhyped, and 12 founders think that Solana payments are undervalued. 11 founders would choose Base Chain or Sui Chain if they do not develop on Solana Chain, while Ethereum, Tron, and Atlas only received one vote each. Based on these results, two issues are selected for personal analysis.

Why doesn't Pump.fun appeal to the founder of Solana?

Pump.fun focuses on ultra-low transaction fees. Creators or issuers only need to spend 0.02 SOL (less than $2) to upload pictures and enter the token name to quickly launch meme coins on the platform. The tokens will be automatically listed on the internal exchange and can be traded anytime.

Even if Pump.fun can quickly issue meme coins and expand its business rapidly, the negative news keeps coming, especially the perverted live content without moral bottom line for the sake of performance and traffic, which may be suspected of violating the law. For the Solana startup team, joining Pump.fun may face the crisis of closure and imprisonment, and may also affect future evaluations.

Solana's MEV triggers sandwich trading risks not recognized by the community

MEV (Maximal Extractable Value) is a mechanism that can be run on Solana. Unlike Ethereum, Solana does not need to build a native token transaction pool. It can construct a transaction pool from the outside, allowing transactions to be made public without being seen, which is not transparent enough. The buying and selling control can be held by certain validators. Sandwiching refers to luring users to buy at a high price using the front end of the sandwich attack. Investors in Solana can buy in at the lowest point of the market from the peripheral fund pool, then tempt the next trade to attract other funds to enter and raise the price, attracting retail investors to enter the market.

Solana may have greater potential to catch up with Ethereum this year, but it comes with high market risks due to the lack of understanding of Solana's blockchain mechanism by most investors. As it is not yet compliantly regulated, there is a high risk of violating laws, making the speculation of Solana a large-scale gambling arena. Surveys from Solana's startup development team and community also indicate their desire to develop better products, rather than just tools for making speculative profits. Personal academic analysis, not constituting any investment or financial advice, DYOR.

This article Soul Questioning 42 Founders of Solana's Real Evaluation of Solana Startups and VCs first appeared on Chain News ABMedia.