{"id":475366,"date":"2021-11-03T19:58:44","date_gmt":"2021-11-03T19:58:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=475366"},"modified":"2021-11-03T20:00:35","modified_gmt":"2021-11-03T20:00:35","slug":"chamath-palihapitiya-invested-solana","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana\/chamath-palihapitiya-invested-solana\/","title":{"rendered":"Why Billionaire Chamath Palihapitiya Invested In The Solana Ecosystem"},"content":{"rendered":"<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">A top performer in the crypto market, Solana (SOL) continues to attract attention from institutional investors and strengthen its fundamentals for future gains. In that sense, the ecosystem build on top of this network seems poised to become the prime contender to take over a portion of Ethereum\u2019s market share. <\/span><\/p>\n<p style=\"text-align: center\"><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/news\/solana-breaks-80-barrier-still-4x-from-here\/\" target=\"_blank\" rel=\"noopener \">Solana Breaks $80 Barrier, Why It Could Still Climb 4x From Here<\/a><\/strong><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">Billionaire and early Bitcoin investors Chamath Palihapitiya recently <a href=\"https:\/\/twitter.com\/chamath\/status\/30827779\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> a co-leading position in Syndica, a Solana\u2019s infrastructure developer, seeding round. The investment was made via Social Capital, Palihapitiya\u2019s venture capital firm. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">The company managed to raise over $8 million. The funds will be used to build \u201cthe scalable developer infrastructure for the thriving Solana ecosystem\u201d, as Palihapitiya said via Twitter. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">Alongside Social Capital, the round saw participation from major names in the industry such as crypto exchange FTX CEO Sam Bankman Fried with his investment firm Alameda Research. Bankman Fried has been making notoriously public his position in SOL.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">In addition, Jump Capital, Kindred Ventures, Solana Ventures, Ox Labs, Messari\u2019s Ryan Selkis, CoinShares, DeFiance Capital, Spartan Group, MGNR, Resolute VC, and Untamed Ventures, and others also participated in the round, according to a <a href=\"https:\/\/www.prnewswire.com\/news-releases\/syndica-raises-8-million-to-build-the-cloud-of-web-3-0--301415492.html\" target=\"_blank\" rel=\"noopener nofollow\">press release<\/a>. CoinShares\u2019 CSO Meltem Demirors commented the following on her firm\u2019s investment in Syndica:<\/span><\/p>\n<blockquote>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">(\u2026) delighted to back Syndica_io\u2019s seed round via CoinSharesCo Ventures as they bring robust, scalability-focused developer infrastructure to the $60B and growing Solana ecosystem. <\/span><\/p>\n<\/blockquote>\n<p style=\"text-align: center\"><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/news\/solana-drops-rebound-or-start-of-correction\/\" target=\"_blank\" rel=\"noopener \">Solana Drops Close To 20%, Imminent Rebound Or Start Of Correction?<\/a><br \/>\n<\/strong><\/p>\n<h2 class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">Building The Future Of The Internet On Solana<\/span><\/h2>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">The release claims that the SOL ecosystem lacks a bridge that allows it to connect the applications with the network itself. In order to increase the blockchain\u2019s scalability, Syndica is planning to create a Cloud-like infrastructure. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">The company was founded by Danial Abbasi and its CEO Ahmad Abbassi. The improvements to the scalability of the Solana ecosystem will be made via RPC nodes. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">These components will operate as intermediaries between the network and the dApps \u201callowing them to read and write data to the blockchain\u201d. In addition, the company will provide \u201ca suite of features\u201d, such as RPC usage analytics, advanced logging, and others. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">According to the release, the founders envision becoming \u201cthe Cloud of Web 3.0\u201d. Abbassi said the following about their recent seed round:<\/span><\/p>\n<blockquote>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">What excites us most is the opportunity to bring in the next generation of Web 3.0 developers by creating an experience that makes Web 2.0 developers feel at-home. We think that migration is a one trillion-dollar opportunity, and we will play a central role in it.<\/span><\/p>\n<\/blockquote>\n<p style=\"text-align: center\"><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/news\/company\/solana-v2-is-imminent-velas-first-dex-is-now-live-with-40-more-projects-incoming\/\" target=\"_blank\" rel=\"noopener \">Solana V2 Is Imminent: Velas\u2019 First DEX Is Now Live, With 40 More Projects Incoming<\/a><\/strong><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">SOL has experienced a 200x price rally in over a year. The network has also seen a massive explosion in terms of developer interest and user activity in a two-month period. Palihapitiya said: <\/span><\/p>\n<blockquote>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">Web 3.0 is ushering in a revolution of the internet, and developers are on the cutting edge of this change. Syndica is making it as easy to build in the Solana ecosystem as it is to build in Web 2.0, and we&#8217;re excited to support this journey.<\/span><\/p>\n<\/blockquote>\n<p class=\"MsoNormal\" style=\"text-align: justify\"><span lang=\"EN-US\">As of press time, SOL trades at $235 with a 10% rally in the daily chart. <\/span><\/p>\n<figure id=\"attachment_475388\" aria-describedby=\"caption-attachment-475388\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-475388 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/Solana-SOL-SOLUSDT.png?resize=860%2C404\" alt=\"Solana SOL SOLUSDT\" width=\"860\" height=\"404\"><figcaption id=\"caption-attachment-475388\" class=\"wp-caption-text\">SOL on a rally in the daily chart. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/hstM8J8q\/?symbol=BINANCE%3ASOLUSDT\" target=\"_blank\" rel=\"noopener nofollow\"> SOLUSDT Tradingview<\/a><\/figcaption><\/figure>\n<p><\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A top performer in the crypto market, Solana (SOL) continues to attract attention from institutional investors and strengthen its fundamentals for future gains. In that sense, the ecosystem build on top of this network seems poised to become the prime contender to take over a portion of Ethereum\u2019s market share. Related Reading | Solana Breaks $80 Barrier, Why It Could Still Climb 4x From Here Billionaire and early Bitcoin investors Chamath Palihapitiya recently revealed a co-leading position in Syndica, a Solana\u2019s infrastructure developer, seeding round. The investment was made via Social Capital, Palihapitiya\u2019s venture capital firm. The company managed to raise over $8 million. The funds will be used to build \u201cthe scalable developer infrastructure for the thriving Solana ecosystem\u201d, as Palihapitiya said via Twitter. Alongside Social Capital, the round saw participation from major names in the industry such as crypto exchange FTX CEO Sam Bankman Fried with his investment firm Alameda Research. Bankman Fried has been making notoriously public his position in SOL. In addition, Jump Capital, Kindred Ventures, Solana Ventures, Ox Labs, Messari\u2019s Ryan Selkis, CoinShares, DeFiance Capital, Spartan Group, MGNR, Resolute VC, and Untamed Ventures, and others also participated in the round, according to a press release. CoinShares\u2019 CSO Meltem Demirors commented the following on her firm\u2019s investment in Syndica: (\u2026) delighted to back Syndica_io\u2019s seed round via CoinSharesCo Ventures as they bring robust, scalability-focused developer infrastructure to the $60B and growing Solana ecosystem. Related Reading | Solana Drops Close To 20%, Imminent Rebound Or Start Of Correction? Building The Future Of The Internet On Solana The release claims that the SOL ecosystem lacks a bridge that allows it to connect the applications with the network itself. In order to increase the blockchain\u2019s scalability, Syndica is planning to create a Cloud-like infrastructure. The company was founded by Danial Abbasi and its CEO Ahmad Abbassi. The improvements to the scalability of the Solana ecosystem will be made via RPC nodes. These components will operate as intermediaries between the network and the dApps \u201callowing them to read and write data to the blockchain\u201d. In addition, the company will provide \u201ca suite of features\u201d, such as RPC usage analytics, advanced logging, and others. According to the release, the founders envision becoming \u201cthe Cloud of Web 3.0\u201d. Abbassi said the following about their recent seed round: What excites us most is the opportunity to bring in the next generation of Web 3.0 developers by creating an experience that makes Web 2.0 developers feel at-home. We think that migration is a one trillion-dollar opportunity, and we will play a central role in it. Related Reading | Solana V2 Is Imminent: Velas\u2019 First DEX Is Now Live, With 40 More Projects Incoming SOL has experienced a 200x price rally in over a year. The network has also seen a massive explosion in terms of developer interest and user activity in a two-month period. Palihapitiya said: Web 3.0 is ushering in a revolution of the internet, and developers are on the cutting edge of this change. Syndica is making it as easy to build in the Solana ecosystem as it is to build in Web 2.0, and we&#8217;re excited to support this journey. As of press time, SOL trades at $235 with a 10% rally in the daily chart.<\/p>\n","protected":false},"author":535,"featured_media":469388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[],"class_list":["post-475366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana"],"acf":[],"yoast_head":"\n<title>Why Billionaire Chamath Palihapitiya Invested In The Solana Ecosystem<\/title>\n<meta name=\"description\" content=\"A top performer in the crypto market, Solana (SOL) continues to attract attention from institutional investors and strengthen its fundamentals for future\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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