Solana is rising as a high-speed trading platform in the encryption world

Solana is becoming a high-speed trading platform in the encryption world, designed for fast transactions, on-chain composability, and large-scale yield processing. The following three key data points support this view:

1. SaaSification of the Launch Platform: A certain launch platform has surpassed its competitors, achieving a 60% graduation rate and entering the liquidity pool, with daily revenue exceeding $1 million. Creator loyalty has declined, and retention rates and GMV have become the new competitive advantages.

2. Tokenized stocks become core collateral: providing around-the-clock liquidity, modular margin, and capital unlocking for private markets. The real market potential lies in the circulation of relisted equity.

3. Solana's revenue structure is diversified: In the second quarter, revenue reached $570 million, accounting for 46% of all public chains. Major revenue sources include decentralized applications, bot services, launch platforms, and production tools.

Competition Landscape of Launch Platforms

The rise of a certain launch platform is not just a digital game:

• Market share reversal: On July 5th, the new token issuance on this platform accounted for 66% of the total market, while competitors only accounted for 26%.
• The quality of funds is better than the scale: this platform has a graduation rate of about 60%, while competitors only have 31%.
• Significant improvement in monetization ability: Daily income increased from nearly zero to over $1 million, while competitors dropped to $500,000.

Industry Trend Analysis

• Retention rate becomes a key indicator: The graduation rate is actually a net income retention rate indicator for the launch platform. Platforms that are the first to institutionalize this are expected to win the enterprise-level API integration market.

• Reduced user conversion costs: Although a competing platform still occupies the minds of most creators (with a cumulative revenue of about $700 million), emerging platforms have proven that user conversion costs are close to zero.

• Project Valuation Potential: Based on a stable daily income of 1 million USD, the annual income can reach 100 million USD. Considering that the profit margin of the Solana infrastructure is about 80%, this protocol exhibits a SaaS-level economic model. Even excluding volatility factors, a valuation of 1 to 2 billion USD is still justified based on a forward sales multiple of 10-15 times.

Tokenized Stocks: A New Avenue for Liquidity in Traditional Finance

Tokenized stocks are not just traditional stocks on the blockchain; they also:

• Shorten traditional financial settlement times to minutes.
• Create new collateral asset classes
• Provide financing channels for large private institutions

The successful blockchain ecosystem of the future needs to have three core elements: a regulated token issuance mechanism, a reliable oracle system, and a highly liquid perpetual contract market. The ultimate winner will become the infrastructure in the field of tokenized equity, fully capturing value growth opportunities.

Solana's revenue mechanism

Solana's revenue in the second quarter reached $570 million, accounting for 46% market share. The revenue of other major public chains is as follows:

• Ethereum: $213 million
• TRON: $165 million
• Binance Chain: $150 million
• Others: up to $75 million

This reflects two facts:

1. The main application scenario of cryptocurrencies is still trading as a service.
2. The platform is optimizing for professional users: professional users drive profits and losses; mainstream exchanges will guide the public to participate in the future.

The appeal of Solana to professional users

Solana optimizes the full lifecycle value for professional users:

• Delayed arbitrage: A trading time of 400 milliseconds and extremely low fees allow the bot to refresh orders dozens of times per second, with each slight advantage converting into protocol profit.

• Quick combination leverage: From issuing tokens to establishing AMM liquidity pools to perpetual contract collateral, it only takes a few minutes, and the capital turnover speed far exceeds that of Ethereum L2.

• Network incentives match the demand of large users: Professional users are willing to pay higher fees, have a lower churn rate, and can provide a liquidity foundation for the platform, continuously attracting new professional users to join.

Solana is committed to maximizing the full lifecycle value of professional users, while centralized exchanges need to bear costs such as KYC, fiat channels, and new user support. In the encryption field, the fastest-growing companies view blockchain as a high-speed channel for capital markets.