Founder Survey on Solana: Loyalty, Network Issues & Memecoin

Lightspeed's survey provided valuable insights into Solana's inherent problems, as well as the possibilities that the blockchain could achieve if successfully addressed in the near future.

Lightspeed conducted an anonymous survey with 42 founders in the Solana ecosystem to gather opinions on blockchain ecosystems, venture capital funds (VCs), startups, and other issues related to this ecosystem.

The survey results provide insight into the thoughts and perspectives of the founders regarding the factors that influenced the development of Solana.

Alternatives of founders if switching to a new blockchain. Source: Blockworks.

As for the question of the founders' alternative if moving to a new blockchain, some founders claim that they have no interest in any ecosystem other than Solana. One person shared that without Solana, they would not be involved in crypto.

Others stressed that the choice of a single ecosystem was unfair, while some founders expressed a neutral attitude, arguing that the survey questions were more provocative than providing factual information.

In terms of venture capital funds, some argue that Asian VCs often invest solely on the basis of who is the lead investor rather than evaluating the project independently. This creates a feeling of imbalance in the allocation of financial resources in the ecosystem.

The majority consider the Multicoin investment fund to be the most vocal company in the Solana ecosystem. Source: Blockworks

Regarding the internal network in Solana, a small number of founders admit that there is a network of personal relationships that form naturally from the early days and in the down market. Those who have accompanied and supported Solana for a long time now have a greater voice and influence.

However, they affirm that there was no ill intention in creating this network, and that the Solana Foundation is working to widely support the entire ecosystem, for example through organizations such as Superteam. Anatoly, the founder of Solana, was praised for his ability to cheer creators based on the true value of the project and their sincerity.

In terms of technology demand, many founders emphasize that Solana needs to expand its blockspace to meet the growing demand. With demand increasing fivefold and price increasing twofold, block size needs to increase tenfold to maintain affordable cost for app developers.

The biggest current problem of the Solana blockchain. Source: Blockworks.

When asked about development areas, some say that areas such as SocialFi, DesCI and gaming have not delivered significant value.

Regarding FTX, many share that this company has been a very good support for Solana in the early days, but at the same time has also left negative effects in the later stages.

Most argue that Memecoin is good for the Solana ecosystem. Source: Blockworks.

Some other notable results from the survey show that founders do not appreciate pump.fun, but concluded that memenoin brings many benefits to the ecosystem. In addition, Base and Sui are considered the most attractive competitors of Solana.

The survey results provide a comprehensive view of the founders' perspectives, thereby helping to better understand the challenges and opportunities facing Solana, as well as the factors that influence the long-term development of this ecosystem.