DeFi Defiance: Why Does Solana REFUSE to DIE?

My Solana thesis for 2024 and ecosystem overview

Solana has been a conversation starter in DeFi circles for nearly half a decade now. Since its inception in 2017 by Anatoly Yakovenko, Solana’s journey has been marked by notable highs and challenging lows; 2022 proved to be a crucible. Plagued by network outages and facing the headwinds of a tumultuous market, the platform encountered skepticism and intense scrutiny.

Netizens were even calling it Slowlana. It was bad.

Source: Twitter

As we close out 2023, the narrative surrounding Solana has shifted towards recovery and potential. The burning question in the minds of seasoned DeFi participants is whether Solana has not only weathered the storm but emerged stronger, poised to redefine its role in the DeFi ecosystem. According to information from DeFiLlama, Solana is still the top Non-EVM blockchain by TVL.

Source: DeFiLlama

In this article, we will explore the technical enhancements Solana has implemented post-2022, scrutinize its current market dynamics, and evaluate the evolving landscape of…