Solana（Sol）需要長大 - ETF可能是催化劑

當索拉納（Solana）於2020年推出時，聯合創始人阿納托利·雅科文科（Anatoly Yakovenko）具有成為納斯達克的宏偉願景

Solana was launched in 2020 with the goal of becoming the Nasdaq on the blockchain. However, the memecoin trading activity that has been observed on Solana is more reminiscent of penny stocks than the tech giants that make up the Nasdaq index, such as Apple or Nvidia.

索拉納（Solana）於2020年成立，目的是成為區塊鏈上的納斯達克（Nasdaq）。但是，在索拉納（Solana）上觀察到的紀念性交易活動比構成納斯達克指數（例如蘋果或NVIDIA）的科技巨頭更讓人聯想到一分錢股票。

There are certainly “blue-chip” tokens like Jupiter (JUP) or Drift (DRIFT), but the attention has been focused on memecoins. In fact, memecoins have become so synonymous with Solana that some in the industry view it as purely a “meme chain.”

肯定有像木星（jup）或漂移（漂移）這樣的“藍芯片”令牌，但注意力集中在成員上。實際上，Memecoins已成為Solana的代名詞，以至於行業中的一些人將其視為純粹的“模因鏈”。

This isn’t exactly a surprise: Solana’s Pump.fun memecoin launchpad has seen over 7.5 million tokens created since its inception, resulting in more than $550 million in revenue.

這並不令人驚訝：Solana's Pump.Fun Memecoin Launchpad自成立以來創造了超過750萬個令牌，從而獲得了超過5.5億美元的收入。

This has been a boon for the ecosystem, pushing infrastructure upgrades and onboarding new users, but Solana’s potential goes far beyond memecoins. The time has come for Solana to become a more serious blockchain, and the approval of a Solana SOLUSD exchange-traded fund (ETF) — which is all but guaranteed this year — is just the catalyst needed to help Solana position itself as far more than just a “meme chain” to the general public.

這是生態系統的福音，推動基礎架構升級和入門新用戶，但Solana的潛力遠遠超出了Memecoins。現在是時候讓Solana成為更嚴重的區塊鏈，並且Solana Solusd交換基金（ETF）的批准（今年幾乎保證）只是幫助Solana位置本身所需的催化劑只是向公眾的“模因鏈”。

A helping hand from the SEC

SEC的幫助

Many wouldn’t have thought this possible last year, but it appears the US Securities and Exchange Commission is fully prepared to push through a Solana ETF in 2025. Under new leadership, the agency first acknowledged Grayscale’s SOL ETF application and is now seeking public comment on four Solana investment products.

許多人不會認為這是去年的可能性，但是看來美國證券交易委員會已經準備好在2025年全面推動Solana ETF。在新的領導下，該機構首先承認Grayscale的Sol ETF應用程序，現在正在尋求公眾意見在四種Solana投資產品上。

This perhaps comes as no surprise, given that US President Donald Trump gave Solana a significant endorsement by choosing it as the home for his viral memecoin, TRUMP. An ETF is, however, a much bigger deal because it will propel Solana into the world of traditional finance. And the chances of approval are good: Polymarket traders currently assign an 85% likelihood to a fall launch.

鑑於美國總統唐納德·特朗普（Donald Trump）將其作為他的病毒紀念特朗普（Trump）的家，這也許並不奇怪。但是，ETF的交易要大得多，因為它將推動Solana進入傳統金融世界。批准的機會很好：Polmarket Traders目前為秋季推出的可能性分配了85％的可能性。

This approval will be instrumental in shifting institutional perceptions of Solana because it provides investors with a regulated vehicle to gain exposure to SOL without any of the risks of owning the token onchain.

該批准將有助於轉移對Solana的機構看法，因為它為投資者提供了受監管的車輛，以獲取對SOL的風險，而沒有任何擁有令牌Onchain的風險。

A credibility play

信譽發揮

An ETF, however, also enhances the credibility of any crypto asset in the TradFi world. We’re already seeing this shift in sentiment playing out, with Franklin Templeton, one of the world’s top asset managers, launching a US government money fund on Solana.

但是，ETF還提高了Tradfi世界中任何加密資產的信譽。我們已經看到了這一情緒的轉變，全球最高資產經理之一富蘭克林·鄧普頓（Franklin Templeton）在索拉納（Solana）上啟動了美國政府貨幣基金。

This is significant because it recognizes Solana for what it was designed to be: a serious blockchain supporting large-scale trading and real-life use cases. And a key one this year will be payments and remittances.

這很重要，因為它以其設計為索拉納（Solana）認識到：一個認真的區塊鏈支持大規模交易和現實生活中的用例。今年的關鍵將是付款和匯款。

Payments certainly don’t have the same appeal as memecoins. Yet this was the original use case for blockchain when the Bitcoin white paper was published in 2008. Its pseudonymous creator, Satoshi Nakamoto, clearly positioned Bitcoin as peer-to-peer cash.

付款當然沒有與Memecoins相同的吸引力。然而，這是比特幣白皮書於2008年出版時的原始用例。其偽造的創作者satoshi nakamoto顯然將比特幣定位為對等現金。

Since then, though, the adoption of blockchain for payments has remained limited. Only 0.2% of e-commerce merchants globally accepted crypto in 2022 — a far cry from a global payments network.

但是，從那以後，採用區塊鏈進行付款一直有限。 2022年，全球電子商務商人中只有0.2％的商人與全球支付網絡相去甚遠。

A $20-trillion opportunity

一個20萬億美元的機會

Yet, the opportunity is enormous. This year, the payments industry is projected to reach $20.37 trillion. That’s six times the market capitalization of all cryptocurrencies combined ($3.23 trillion). And we’re already seeing signs of the growing importance of digital assets in the payments landscape.

但是，機會是巨大的。今年，支付行業預計將達到20.37萬億美元。這是所有加密貨幣的市值（3.23萬億美元）的六倍。而且，我們已經看到了付款環境中數字資產越來越重要的跡象。

This includes payments giant PayPal entering the crypto world with the launch of its proprietary stablecoin, PayPal USD (PYUSD). Meanwhile, President Trump’s social media company, Truth Social, is exploring a crypto payments service called TruthFi. At the same time, Elon Musk’s X is set to start accepting crypto payments via the new X Payments platform. It seems boring-but-necessary crypto payments are finally about to have their day in the sun.

這包括付款巨頭PayPal通過其專有的Stablecoin PayPal USD（PYUSD）的推出，進入加密貨幣世界。同時，特朗普總統的社交媒體公司Truth Social，正在探索一項名為TruthFi的加密貨幣付款服務。同時，Elon Musk的X將開始通過新的X支付平台接受加密付款。似乎無聊但必不可少的加密付款終於將在陽光下度過一天。

Solana is well-positioned to take a leading role in this shift. It already boasts a large, active user base and saw its stablecoin supply double in January at nearly $12 billion. Plus, it was battle-tested earlier this year by the launch of the TRUMP memecoin, and this onslaught was handled well.

索拉納（Solana）的位置很好，可以在這一轉變中發揮主導作用。它已經擁有一個大型活躍的用戶群，並在一月份看到其穩定的供應量將近120億美元。另外，今年早些時候，特朗普成員的推出進行了戰鬥測試，這種猛烈攻擊的處理得很好。

On top of this, Solana already has the infrastructure to support a retail payments network. It boasts cheap and fast transactions, and its payment protocol, Solana Pay, allows people to pay with crypto, including USD Coin (USDC), by simply scanning a QR code with their mobile phones — all the ingredients of a frictionless e-commerce experience.

最重要的是，Solana已經擁有支持零售支付網絡的基礎架構。它擁有便宜且快速交易，其付款協議Solana Pay，允許人們通過使用手機掃描QR碼（包括USD Coin（USDC））的加密貨幣付款 - 所有無摩擦電子商務體驗的成分。

A grown-up blockchain

成年區塊鏈

Payments are just the beginning. Yakovenko’s vision of the Nasdaq on the blockchain is a grander one — a high-performance blockchain that can support large-scale financial user cases, from sophisticated trading to lending.

付款只是開始。 Yakovenko對區塊鏈上納斯達克的願景是一個更宏偉的納斯達克島 - 一種高性能區塊鏈，可以支持從復雜交易到貸款的大規模財務用戶案例。

Solana has been honing the infrastructure necessary for this all year — Pump.fun forced the upgrades and fixes

Solana一直在磨練全年必要的基礎設施 - 泵。