【Mindao: Solana’s Highly Commercialized Meme Release Lacks A Moat, And I Don’t Think It Can Subvert Ethereum】 On October 31, Mindao, The Founder Of DeFi Protocol DForce, Posted On His Social Platform To Discuss Whether Solana Will Subvert Ethereum. Mindao Said That SOL Is Now Very Similar To The Grand Occasion Of Ethereum ICO In 2017. SOL Has Also Experienced A Huge Turning Point In Its Revival (the Collapse Of FTX Was SOL's The DAO Event), And Has Truly Established A Self-circulating Self-investment System. It Is The Third To Establish A Strong OG Self-investment Ecosystem After Bitcoin And Ethereum. The Difference Is That Ethereum's ICO Is A Large-scale Infrastructure Movement For Ethereum, And The Core DeFi Infrastructure We Are Using Now Is Basically From The ICO Era. Now SOL's Meme Transaction Is A Very Commercialized Track, Lacking A Moat, And Will Soon Spill Over To Other Chains. It Cannot Provide SOL With Infrastructure Financing (even The Handling Fees Of Pump Do Not Flow Back To SOL). Mindao Finally Said, “I Have Never Worried That Ethereum’s Performance Is Worse Than Other Up-and-coming Blockchains, But If One Day It Becomes Uncool, Ungeeky, And Unconventional, That Would Be A Real Worry. Therefore, I Don’t Think SOL Will Flip ETH, After All, Ethereum Is Still Pretty Cool Now.”