The new ambitious investment thesis from the project that focuses on encryption, Multicoin Capital claims that Solana-at the present time, the dominant ecosystem can value $ 100 billion-ultimately that “the main players of traditional finance (Trafi)”, with what is In that Nyses, Nasdaq and CME. The 17 -minute reading, published by the founder of Multicoin Capital Kyle Samani, is entitled “The Solana Times: Internet Capital Markets”, in detail the reason why the company believed that Sol can obtain value from each layer of global financial stack.
How can Solana Nyse and Nasdaq fall
Multicoin Capital has been a supporter of Solana since its seed tour in May 2018. Noting that the network has become the “fastest growing ecosystem” with “ethereum on most of the main standards on the chain (trading sizes, daily active headlines, ReV, ReV, TEV, DePin Payments, etc.), “Samani describes the newly released thesis as the fifth main company that focuses on Sol article.
“Now that Solaana became $ 100 billion in value … We wanted to share our ideas on how to secure Seoul to get strong returns up from $ 100 in the market,” Samani wrote.
The main argument for Multicoin is that the Solana structure can reduce the user fee by 90 % to 99 % – and the ecosystem also enables the market ceiling that exceeds many Trafi companies. Samani claims that although traditional exchanges that acquire them only for trading services, the decentralized nature of Solana allows it to collect additional revenues from multiple financial protocols designed on its network.
At the thesis, Samani confirms that direct fees revenues of payments are not the real prize. Although the cost close to zero to the treatment of Sol (about $ 0.001 per transaction) makes it attractive to merchants and consumers, these fees are pale compared to high fees on the main movement systems.
“However, he sees payments as a decisive vector for growth:” Payments are important to the leadership leadership … they are viral in nature. “
According to the report, a virus -like spread occurs to use the wallet whenever people deal with each other, making daily payments a powerful tool for introducing new users. This, in turn, pushes more liquidity and size towards the basic Defi applications responsible for generating the largest part of the profits.
Samani highlights the police liquidity (CL) – which was implemented by Defi Platform DFlow on Solana – as a vital penetration. The CL of Market makers (MMS) allows to make more compact differences by ensuring that only “non -toxic” requests are of their trusted front partners, who can benefit from this liquidity.
“Cl is an emerging concept … We expect the dominant model to quote liquidity on the series,” Samani wrote. This practice has created tradfi curricula, such as those used by Robinhood and its market partners. The largest possible effect is more suitable for ordinary users, as one of the largest efficiency gaps between central and decentralized exchanges.
Samani argues that the next Solana’s Soliana framework (MCL)-as it produces many contracts simultaneously as blocks-allows global participants to integrate the market moving information more quickly. Unlike one Exchange server in one physical location, MCL publishes driving over the network, reducing the time of access to those away from old financing centers. In principle, this system must be able to discover decentralized prices to outperform the central matching engines.
Samani is perceived by Solana’s role not only as a “non-central” NASDAQ “but as a global platform for all financial services-from derivatives and conjugation to the distinctive symbol and traditional shares.
“Almost all assets will trade on global systems and then, then, such as Solana, ultimately,” says Samani. It also highlights the possibility of the entire new assets chapters, such as the multiple properties – that are contemplated with projects such as PARCL – or symbolic bottles of whiskey and collected watches. This places Solana in a major position to host trading and managing all forms of distinctive value.
The main focus is how to capture factors such as Solana Capture through the maximum extractable value (MEV) – value providers or miners can collect from the arrangement of transactions. Through a variety of financial protocols and capital markets that work on the chain, Samani claims that MEV will be the basic revenue driver.
“Solana itself does not provide financial services. But Solana creates the stack that occupies hundreds of financial services … and while gas costs are approaching 0 … Solaa benefits directly from the growth of these financial services through the maximum extraction value (MEV),” Samani argues .
According to the thesis, the Solana network got more than $ 800 million in “ReV” (incomplete symbolic inflation) during the last quarter of 2024, almost from zero one year ago. This number translates into an annual rate of $ 3.2 billion-a impressive leap, bearing in mind that few traditional assets in the chain, and many Defi protocols on Solana remain in the early stages.
In concluding the thesis, Samani confirms that the decentralized infrastructure in Solana can eventually excel over the current exchanges by delivering:
- Low fees and enhanced liquidity,
- The fastest final transaction across global markets,
- Support for a wide range of symbolic assets,
- New financial products are completely compatible,
- Valuable platform to develop without permission
“There is an incredible opportunity to create a global financial system and not permission … This is the vision of the online capital markets. This is the vision of Solana,” she writes Samani.
Multicoin’s bet is that the constant expansion of Solana will create a Mediterranean wave of innovation in which Nasdaq, Nasdaq, CME and major payment networks – with closed Abnis. Whether this great ambition is fully achieved, it will depend on organizational adoption, technological development, and whether the prevailing funding will embrace the next generation of solutions to the series.
At the time of the press, Sol was traded at $ 249.50.
Distinctive image created with Dall.e, Chart from TradingView.com
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