SOL Subsidy Value Capture Doubt
Solana's subsidy-driven professional trading program may generate activity that benefits venues and market makers without translating into sustainable value capture for SOL token holders.
Too little corroboration in the last 3 days to call a trend (2 articles). Watching for it to gain traction.
"Future pressure will depend on operating costs and how often Solana Company must monetize its treasury. The company reported $13.321 million of digital-asset sale proceeds and $16.723 million of operating cash use for the first half."
"Frontier could deepen the professional trading layer while leaving open who captures the economics. In a recent analysis of why SOL was falling despite ETF inflows and activity, CryptoSlate noted that fees, stablecoin flows, tokenized equity volume, and perps can benefit validators, issuers, platforms, and market makers before they reach SOL holders."