Danial

co-founder @Syndica; prev. Research @0xProject. “Come as you are.”

[Syndica @syndica]

1/ @Solana schedulers all run the same protocol, but no two build blocks the same way.

Some include votes first, some pack more CU, some skip more blocks, some pay validators more. We classified all 9 schedulers across 3 axes.

Full breakdown 🧵👇

[Syndica @syndica]

1/ April showed a rotation phase in @Solana DeFi: spot & perps activity softened while RWA and tokenized equities kept scaling.

RWA AUM pulled back to $1.3B, but tokenized equities reached $412M and @xStocksFi climbed to $367M to become Solana's top RWA issuer.

🧵👇

[Syndica @syndica]

1/ @Solana DePIN pushed cumulative onchain revenue past $28M since Jan 2025.

@helium_mobile subscribers hit a 2.9M ATH, @XNET_Mobile crossed 1 PB cumulative offload, and @rendernetwork rebounded 26% to $221k.

Breakdown 🧵

[Syndica @syndica]

1/ @Solana is back at #1 in Web3 DApp revenue, capturing 28% in April after losing the top spot for a single month.

Its DApp layer also earned 3.7x the base layer's revenue, the 7th straight month above 3x.

Breakdown 🧵

[Syndica @syndica]

1/ @Solana stayed central to blockchain activity last month.

It led DEX volume at $66B, held #2 in TVL, grew stablecoin supply 67% since Jan 2025 and outpaced all other tracked chains combined in median TPS.

Breakdown 🧵

[Syndica @syndica]

1/ @Solana's validator stack is evolving fast. @harmonic_gg and @Rakurai_io are rewriting validator economics. SFDP's network stake halved. Tips from non-Jito providers now rival Jito. Nearly half of all stake runs on @doublezero.

A lot moved under the hood last month 🧵

[Syndica @syndica]

1/ @Solana DePIN recovered in March as wireless protocols shattered records again.

@helium hit $2.5M revenue (new ATH), @DabbaNetwork reached 42k TB offloaded, and @XNET_Mobile smashed its record at 150 TB. Deployer rewards jumped 31% to $2.1M. 🧵👇

[Syndica @syndica]

1/ The crypto dev map is being redrawn.

@Solana overtook @Ethereum in new developer intake and hobbyist counts, and is closing in on professionals.

Meanwhile, Europe has emerged as the top region for most chains.

Full breakdown. 🧵👇

[Syndica @syndica]

1/ @Solana's tokenized equities hit a $238M ATH in March. xStocks posted a 9th straight record at $226M, and Token-2022 mints hit ATH at 1.5M.

Trading activity, however, cooled in March - DEX volumes dropped 33% to $65B.

Thread 👇

[Syndica @syndica]

1/ @Solana led all chains in DApp revenue for a 22nd straight month, capturing 34% of Web3's $295M total in February.

@Pumpfun continued to dominate. @JupiterExchange hit $8M led by perps. DePIN stayed flat while most other verticals cooled.

Full breakdown 🧵👇

[Syndica @syndica]

1/ @Solana DeFi hit new highs in February 2026 despite broader market contraction.

Prop AMMs captured 71% of DEX volume. Stablecoins reached $16.8B ATH. Wrapped $BTC supply hit 9.3k. New verticals emerged across lending, pegged assets & tokenized equities.

Full breakdown 🧵👇

[Syndica @syndica]

1/ @Solana's February 2026 performance: 40M unique wallets, $268B in DEX volume (36% share), and 1,030 avg non-vote TPS.

Stablecoin supply grew to $15.9B—3.1x since January 2025. Only major chain with rising lending TVL. Capital efficiency outpaced most L1s.

Full breakdown 🧵👇

[Syndica @syndica]

1/ Firedancer is now on mainnet, giving @Solana two independent validator clients.

New Agave flavors BAM from @jito_sol, @harmonic_gg, and @Rakurai_io are kicking off a block-building race, competing on transaction order/priority.

Our Onchain Activity report covers the latest.

[Syndica @syndica]

1/ Solana’s DApp economy printed one of its strongest rebounds in months in January.

Revenue up. Concentration rising. New highs across multiple verticals.

January 2026 breakdown 🧵👇

[Syndica @syndica]

1/ DePIN growth on @Solana isn’t slowing down. January 2026 saw record revenues, hotspot deployments, and data offloads across @helium_mobile, @rendernetwork, @XNET_Mobile, and more.

A thread on what’s moving the needle 👇

[Tim Ferriss @tferriss]

“The dynamic of friendship is almost always underestimated as a constant force in human life: a diminishing circle of friends is the first terrible diagnostic of a life in deep trouble: of overwork, of too much emphasis on a professional identity, of forgetting who will be there when our armored personalities run into the inevitable natural disasters and vulnerabilities found in even the most average existence.

[...]

But no matter the medicinal virtues of being a true friend or sustaining a long close relationship with another, the ultimate touchstone of friendship is not improvement, neither of the other nor of the self; the ultimate touchstone is witness, the privilege of having been seen by someone and the equal privilege of being granted the sight of the essence of another, to have walked with them and to have believed in them, and sometimes just to have accompanied them for however brief a span, on a journey impossible to accomplish alone.”

— David Whyte

[Syndica @syndica]

1/ L1 & L2 chains recorded a variety of activity in Jan 2026:

Active wallets expanded.
Throughput gaps widened.
DEX share consolidated.
BTC liquidity deepened.
Perps cooled.

Inside the latest L1 & L2 data 🧵

[Syndica @syndica]

1/ @Solana has led crypto developer expansion through multiple market cycles.

2025 brought record onboarding, new geographic leaders, and sustained professional growth even as retention trends diverged.

Inside the data behind Solana’s developer economy 🧵

[Syndica @syndica]

1/ DePIN on @Solana put up real numbers in 2025: $17M in revenue, massive wireless data offload growth, and clear leaders emerging.

Let’s unpack what actually happened 👇

[Syndica @syndica]

1/ 2025 reshaped @Solana DeFi. Market share rotated, volumes cooled, and new leaders emerged across DEXs, aggregators, and perps.

Let’s break it down. 👇