đŁ $SOL Co-Founder Toly Responds to Phoenix & Flash.Trade Debate
Solana co-founder Anatoly Yakovenko (âTolyâ) responded on August 10 to criticism surrounding the Solana Foundationâs support for Phoenix and the shutdown of Flash.Trade.
According to PANews, Toly clarified that the Solana Foundation cannot guarantee the success of any individual product.
He explained that the Foundationâs role is primarily to provide early promotional support when a product launchesânot to determine which project ultimately succeeds.
đ Toly also emphasized that if another product competes with Phoenix, the Foundation can similarly help that team get started.
However, the level of attention and the eventual outcome depend largely on the product itself.
According to Toly, factors such as:
âą How novel the product is
âą The quality of the product
âą User adoption and satisfaction
âą How effectively the project tells its marketing story
can ultimately determine how much attention it receives and whether it succeeds.
$SOL
đ THE BIGGER PICTURE
The discussion highlights an important point for the Solana ecosystem:
Foundation support can help a project get initial visibility, but long-term success still depends on the product, users, innovation, and market demand.
#solana #sol #Crypto #Web3Payment #DeFi #SolanaEcosystem #Blockchain #CryptoNews #BinanceSquareBTC
Solana co-founder Anatoly Yakovenko (âTolyâ) responded on August 10 to criticism surrounding the Solana Foundationâs support for Phoenix and the shutdown of Flash.Trade.
According to PANews, Toly clarified that the Solana Foundation cannot guarantee the success of any individual product.
He explained that the Foundationâs role is primarily to provide early promotional support when a product launchesânot to determine which project ultimately succeeds.
đ Toly also emphasized that if another product competes with Phoenix, the Foundation can similarly help that team get started.
However, the level of attention and the eventual outcome depend largely on the product itself.
According to Toly, factors such as:
âą How novel the product is
âą The quality of the product
âą User adoption and satisfaction
âą How effectively the project tells its marketing story
can ultimately determine how much attention it receives and whether it succeeds.
$SOL
đ THE BIGGER PICTURE
The discussion highlights an important point for the Solana ecosystem:
Foundation support can help a project get initial visibility, but long-term success still depends on the product, users, innovation, and market demand.
#solana #sol #Crypto #Web3Payment #DeFi #SolanaEcosystem #Blockchain #CryptoNews #BinanceSquareBTC