Solana’s Builder Debate: What the Foundation Says It Offers

This week, a public debate about support for builders on Solana spilled into full view, with Vibhu Norby, the Solana Foundation’s chief product officer, posting a detailed rebuttal, where they cited $650 million raised by alumni of the Colosseum program and tens of millions in non-equity grants, as well as the network’s lead in total…

Key takeaways

Quick scan — what you need to know:

• This week, a public debate about support for builders on Solana spilled into full view, with Vibhu Norby, the Solana Foundation’s chief product officer, posting a detailed rebuttal, where they…
• Vibhu’s post came as criticism of founder entitlement by some members of the crypto community quickly widened into a conversation about whether the Foundation was doing enough for its builders.
• What the Solana Foundation Is Doing In an X post published on March 24, Norby addressed what he called “glaring inaccuracies” in recent online discussions about Solana’s support…
• First, he stated that projects that came from the Colosseum accelerator alone have raised more than $650 million in venture capital.

Background

What led here, in plain terms:

• In addition, he said that the ecosystem runs several hackathons each year, including three since January, where they offered prize pools worth millions of dollars.
• Furthermore, the Foundation executive noted that programs such as Superteam provide grants of up to $10,000, with early-stage founders able to access even more backing, including $50,000 for Y…
• There also exists a $2 million prediction markets fund through a partnership with Kalshi, as well as open-ended grants for open source projects and those focusing on public good, with check sizes…
• Norby also pointed to non-equity funding, saying the Foundation and affiliates such as Monke Foundry, Metaplex, Wormhole, and Bonk distribute tens of millions each year through grants without taking…

Why it matters

Why readers and decision-makers should care:

• Meanwhile, after a prolonged slide that saw SOL trading in the mid-$80s, the token was changing hands near $92 at the time of writing, up around 4% in the last 24 hours and about 8% over 30 days.
• However, year-on-year, it is still down more than 34%, which has helped keep it almost 69% below its all-time high of $293 that was set just over a year ago.
• The post Solana’s Builder Debate: What the Foundation Says It Offers appeared first on CryptoPotato.