2024 was a banger

Chapter 2 by @solanamobile came to market and blew away expectations, with over 150k preorders thanks to the support of the Solana community. Solana Mobile’s next chapter was revealed as the Solana Seeker at @Token2049 by @aeyakovenko — shipping in 2025.

Token extensions went live, enabling enterprises and institutions to issue permissioned tokens on a permissionless network. Devs and institutions can now easily issue digital and real world assets with 13 custom extensions (e.g. transfer hooks and confidential transfers).

PYUSD — PayPal’s stablecoin issued by @Paxos — expanded to the Solana network. In an open letter, PayPal cited token extensions — along with Solana’s dev ecosystem, low costs, and high throughput — as key reasons for choosing Solana.

Stablecoins issued on Solana grew 151% YoY as of Sept. 30th. @SkyEcosystem (formerly MakerDAO) brought crypto’s 3rd largest stablecoin — USDS — to Solana, powered by @wormhole. Soon after, @FirstDigitalHQ announced their 2B+ stablecoin FDUSD is coming to Solana.

After a demo by @collision on @phantom in April, @stripe payments on Solana went live in October. Merchants on Stripe — payments giant processing $1 trillion+ vol yearly — can now accept USDC (@circle) and USDP (@paxos) stablecoin payments on Solana while getting paid in fiat.

Institutions are bringing real world assets to Solana. Libre launched on Solana, enabling investment in Hamilton Lane’s SCOPE Fund. Franklin Templeton — a top-20 asset manager by AUM at $1.7 trillion — announced that it plans to launch its BENJI money market fund on Solana.

Blinks connected Solana to the entire internet. Vote, donate, mint, swap, pay, all directly from X. Thanks to @saydialect and ecosystem efforts, Solana meets users where they are.

The payment finance (PayFi) ecosystem expanded significantly. Kast, CL Card, Reap, and Sanctum (Cloud Card) launched, empowering users to pay seamlessly IRL at 100m+ merchants using stablecoins on Solana. In Nov., Huma Finance — which has had over $2.5B vol — expanded their PayFi network to Solana.

Bitcoin 🤝 Solana 2024 was a banner year for Bitcoin on Solana, with @Coinbase Bitcoin (cbBTC) and @21co__ Bitcoin (21BTC) issued as SPL tokens backed 1:1 by native Bitcoin. They joined a growing group of programmable, wrapped Bitcoin issued on Solana, including tBTC (@tBTC_project) and WBTC (via @Wormhole) — with zBTC (@ZeusNetworkHQ) and sBTC (@Stacks) coming to the network soon.

App szn. Solana DeFi took off — and apps like @Moonshot, @pumpdotfun, and @JupiterExchange brought open finance to the masses. Solana app revenue flipped Ethereum app revenue for the first time — and 20 apps on Solana make over $1m in monthly revenue as of November 2024.

Solana devs continued to accelerate infrastructure and IBRL. @lightprotocol and @heliuslabs shipped ZK Compression — reducing state costs by ~1000x for developers. Frankendancer, a hybrid of the @anza_xyz and Firedancer Solana validator clients, launched on Solana mainnet — and Firedancer went live on testnet 🔥💃

The largest hackathons in crypto by @colosseum kept getting bigger and bigger 🏟️ Renaissance had ~9,000 builders submit 1,071 products — and by the fall, Radar saw 10,000+ aspiring founders and 1,359 product submissions from 120+ countries — breaking the previous record.

IRL, Forma (@formacity) started developing Solana Economic Zones (SEZs) to bridge the Solana economy with techno-optimistic countries, driving mutual growth and prosperity. The first SEZ Assembly, a month-long think tank and coworking space, went live in Argentina 🇦🇷

Solana is global 🌍 Incredibly, @SolanaAllstars hosted ~600 community events worldwide. New Solana communities for founders popped up around the globe in 🇯🇵(@SuperteamJapan), 🇫🇷 (@SuperteamFRANCE), 🇰🇷(@SuperteamKorea), 🇸🇬 (SuperteamSG), 🇪🇸(@lafamiliaso), and 🇺🇲(@allmight_us). Solana is among the most globalized crypto userbases, according to @electriccapital.

Supersized Breakpoint. 6000+ builders joined us for the biggest Breakpoint yet in Singapore, showcasing over 75 products built on Solana 🇸🇬 Tickets will go on sale again in 2025 — where Breakpoint takes over Etihad Arena in Abu Dhabi 🇦🇪

Agentic apps szn. The first AI agent millionaire was minted on Solana — @truth_terminal made headlines, receiving a $50k donation from @pmarca then launching a token on Solana. @sendaifun launched the first Solana AI hackathon and the Solana Agent Kit to round out the year.

Developers, developers, developers. Solana was the #1 ecosystem for new developers in 2024 — marking the first time any ecosystem has surpassed Ethereum for new devs since 2016. According to Electric Capital’s annual developer report, 7.6k new devs built on Solana this year.

Founder, developer, and community-wide efforts paid off in a big way. Yearly volume settled on Solana surpassed Ethereum — with $574B settled on the network in 2025. Job’s not finished.

Happy Solstice ☀️ The numbers tell one story: $574B in settled volume. 150k+ Seeker preorders. 6,000 builders at Breakpoint. But the real story is the people building the future they want to see — Solana is you. Many thanks to the tireless founders and community contributors who made 2024 a banger.

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