Austin Federa, head of strategy at the Solana Foundation, said that token issuance should be as easy to create as content on the Internet.

Solana issues nearly 500,000 tokens in a single month

According to The Block, Solana issued a total of 45.5 tokens in May, and other public chains were far lower than this:

  • Base: 177,000

  • BNB Chain: 39,000

  • Arbitrum: Less than 20,000

  • Optimism: Less than 20,000

Solana Strategy Director: Issuing coins should be as easy as posting an article

Austin Federa, head of strategy at the Solana Foundation, said:

Solana aims to become a universal L1 public chain with fast finality, high throughput and extremely low transaction fees. The rise of large-scale token issuance on the Solana chain is precisely based on the above characteristics, which reduces the cost of experimentation and new creation to close to zero. Tokens on Solana should be as easy to mint as content on the Internet.

Most of Solana’s hundreds of thousands of new coins are meme coins, which may also be attributed to the issuance platform Pump fun. Past successful issuance cases include political meme coins (Jeo Boden, Doland Tremp), which allows anyone to be more Easily issue tokens, Solana has issued a total of 110 new tokens this year.

However, Steven Zheng, research director at The Block Pro, pointed out:

The meme coin craze coupled with the success of Pump.Fun has made Solana the mainstream blockchain currently issuing new coins. It remains to be seen whether Solana can gain market acceptance outside the realm of meme coins.

(Live ordering memes! Pump fun launches platform live broadcast function "Bringing Memes Easier")

BNB Chain is still the king of currency issuance in the bull market

Solana is actually still quite competitive with Base, with Base issuing 240,000 new tokens in April compared to Solana’s 22.9. However, both have replaced the status that BNB Chain once held.

BNB Chain issued an average of 95,000 tokens per month in 2021 and 2022, but has begun to decline since May 2021.

Since 2017, six public chains have issued a total of 7 million tokens, with BNB Chain still leading the way with 3.7 million tokens, Solana second with 1.4 million tokens, and the Ethereum mainnet with only about 1 million tokens.

Solana’s coin issuance boom is indeed indicative of the recent development of blockchain, and as blockchain networks continue to compete to be faster and cheaper, similar trends may not slow down.

This article issued nearly 500,000 new tokens in a single month, Solana’s strategy chief: Issuing coins should be as easy as publishing an article first appeared on Chain News ABMedia.