If you’re like us, the recent SEC lawsuit naming SOL a security has felt like yet another blow to everyone building on Solana. It will cast a major shadow and price overhang for quite some time. Along with network outages and close association with FTX and Alameda, this is how the majority of the world will think about Solana.
However, this outsider view obscures what we all, who’ve been building on Solana, know — that we have one of the most resilient builder ecosystems and the most battle-tested technical foundation for mass adoption. And, together, we’ve overcome every crisis by tackling problems head-on and winning over communities step by step.
While many who joined during the bull market are no longer around, we believe that Solana now possesses the necessary elements for a major revival:
- A strong group of battle-hardened OGs who despite all the ups and downs have continued to push forward and become successful.
- Deep technical innovation happening at the core infra level with rapid improvements occurring every month.
- A new community that appreciates Solana’s core attributes much more than the early adopters who came in during the FTX era.
With these underlying factors we are building a new base for Solana that we believe will bring a new era of growth and opportunity.
As one of the first DeFi projects, Meteora has been a part of Solana’s journey from its early stages and we have learned some hard lessons. An over-reliance on hype from a few key players, a lack of ecosystem synergy, and inadequate community building before token releases have collapsed in challenging times.
So, we are determined to leverage these hard-earned lessons to be part of the movement to accelerate Solana into the next phase. Over the next few months, we will be executing in three major directions:
- Engaging with the core Solana ecosystem through a series called “Solana: Hard Lessons and Building a New Base,” where we will invite key leaders in Solana to share war stories, have frank discussions on where we can do better, and brainstorm new solutions to push forward. We will summarize and distribute this series for wider awareness.
- Extending our platform with key new innovations to help more LP providers and users earn better, more sustainable yield, improving the liquidity breadth and depth of Solana.
- Preparing for the initial release of MET to the first set of participants and kickstarting major discussions with both existing stakeholders and new stakeholders on how to create the economic basis for high levels of synergy between MET holders, Meteora platform, and the ecosystem.
We are extremely excited to drive this alongside our friends and partners who’ve persevered through all these cycles with us. Our foundations are stronger than ever, so let’s go!
