Mindao, founder of DeFi protocol dForce, published an article on the X platform to discuss whether Solana will subvert Ethereum. Mindao said that SOL is now very similar to the grand occasion of Ethereum IC0 in 2017. SOL has also experienced a huge turning point of revival (the collapse of FTX is SOL's The DAO event), and has truly established a self-circulating self-investment system. It is the third to establish a strong OG self-investment ecosystem after Bitcoin and Ethereum. The difference is that Ethereum's IC0 is a large-scale infrastructure movement of Ethereum, and the core DeFi infrastructure we are using now is basically from the ICO era. Now SOL's Meme transaction is a very commercialized track, lacking a moat, and will soon spill over to other chains. It cannot provide SOL with infrastructure financing (even pump's handling fees do not flow back to SOL).
Mindao finally said, "I have never worried that Ethereum's performance is worse than other up-and-coming ones, but if one day it becomes uncool, ungeeky, and undetached, that would be a real worry. Therefore, I don't think SOL will surpass ETH. After all, Ethereum is still pretty cool now."
Catherine
