Research Summary
The report discusses the progress of the Solana network in Q2. Solana has shown promise across all metrics, with several catalysts materializing, proving the network’s longevity. In 2022, Solana implemented QUIC, stake-weighted QoS, and local fee markets, enhancing network performance and enabling high-volume events. The launch of the mobile phone, Saga, and the Solana Mobile Stack (SMS) differentiated Solana from the rest of the crypto market, betting that mass adoption will come from mobile usage, not desktops. Liquid staking continues to be the leading sector on Solana, with Marinade Finance leading the pack. Solana Labs introduced validator client v1.14, allowing developers to more accurately estimate future transaction costs. In July 2023, users can look forward to token-2022, a new token standard that will enhance customization for Solana tokens.
Actionable Insights
- Monitor Solana’s progress: Solana has shown significant potential throughout 2023, and it’s important to keep an eye on its developments.
- Consider the impact of Solana’s mobile focus: Solana’s bet on mobile usage for mass adoption could have significant implications for the crypto market.
- Keep an eye on Marinade Finance: As a leader in the liquid staking sector on Solana, Marinade Finance’s actions and developments could have a significant impact on the network.
- Stay updated on new token standards: The upcoming token-2022 standard could significantly enhance customization for Solana tokens, impacting developers and users alike.
