Mindao: Solana's highly commercialized memeissuance lacks a moat, and I don't think it can overthrow Ethereum.

BlockBeats news, on October 31st, Decentralized Finance protocol dForce founder Mindao discussed on his social media platform whether Solana will subvert ETH. Mindao said that SOL now looks a lot like the glory days of ETH during the 2017 ICO era. SOL has also experienced a huge turnaround (FTX’s demise is the DAO event of SOL), and has truly established a self-reinforcing self-investment system. It is the third to establish a strong OG self-investment ecosystem after BTC and ETH. The difference is that the ICO of ETH was a large-scale infrastructure movement for ETH, and the core infrastructure of Decentralized Finance we are using now basically came out of the ICO era. And now SOL’s meme trading is a highly commoditized track, lacking moats, and will soon overflow to other chains. It cannot provide financing for the infrastructure of SOL (not even the fees for pumping flow back to SOL). Mindao finally said, “I have never worried that ETH will perform worse than other newcomers, but if one day it becomes uncool, un-geeky, and detached, that’s what really worries people. Therefore, I don’t think SOL will flip ETH, after all, ETH is still quite cool now.”