wither The bankruptcy of crypto exchange FTX is SOL, according to Austin Federa, director of strategy and communications at the Foundation. altcoin did not prevent its network from attracting users and developers.
Federa said Tuesday that despite the FTX crisis, the network has seen an increase in on-chain activity.
“What you are seeing is a real strength of resilience for both users and developers to develop on the network,” Federa said.
Sam Bankman-Fried, founder of the bankrupt FTX, was a strong supporter of SOL. According to a SOL blog post in November, FTX and Bankman-Fried-owned trading firm Alameda Research has acquired more than $58 million worth of SOL tokens from the foundation and its sister company Solana Labs, six months after the SOL platform first went live with a testnet. had received.
“FTX’s Interest in Solana Was Helpful in the First Place”
Federa said this “initial interest” was beneficial and likely contributed to the rise of the network and now the decoupling of some Solana-based decentralized finance (DeFi) projects from the ecosystem.
However, Federa said that even as non-fungible token (NFT) projects like DeGods and Y00ts leave, developers continue to be involved in the network. Federa is the NFT project that airdropped most of its tokens to Solana users, raising SOL by 20% on Tuesday. Bonk (BONK) showed an example.
Federa concluded his words as follows:
“You don’t see any project migrating from Solana that needs the performance and power of the SOL network. There’s a lot of things you can improve on just on SOL, and these developers continue to improve here.”
*Not investment advice.
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