As digital asset markets face new pressures, senior executives at Solana Foundation are calling for a reorientation of how we define the purpose of blockchain. Lily Liu, the foundation’s lead figure, argued that the industry has strayed too far from its economic roots. As a result, she urged builders and investors to focus on financial infrastructure rather than experimental consumer stories.
Liu’s comments come at a time when token prices are falling and risk appetite is shrinking. In addition to market volatility, the industry also faces skepticism about real-world value creation. She framed blockchain as a tool designed from the beginning for finance. Therefore, he stressed that safe liquidity and capital movement should continue to be a top design priority.
According to Liu, many past efforts misunderstood what was most effective about blockchain. Gaming projects and extensive consumer experimentation absorbed large amounts of capital. But it did little to generate sustained demand. She suggested these efforts would be a distraction for the team.
It actually solves more difficult financial problems that require decentralized systems.
Rethinking the Web3 narrative and incentives
Liu also criticized Previously We are trying to explain the value of blockchain through a simplified slogan. The idea that users could simply own everything online failed to capture economic complexity. Additionally, it encouraged shallow product design. Many teams focused on storytelling rather than building a functional marketplace.
She pointed out that venture funding often follows a narrative rather than a public benefit. As a result, the project launched the token to attract speculative liquidity rather than long-term users.
This cycle has driven up prices without strengthening the underlying system. Over time, the industry built an excess of infrastructure that lacked clear demand.
Additionally, Liu argued that the promise of universal rewards misleads participants. The belief that all online actions should generate income distorts incentives. The team was optimized to increase the value of the token rather than creating a useful service. Importantly, this approach weakened confidence when market conditions reversed.
Open finance as a core opportunity
Despite the criticism, Liu expressed confidence in blockchain’s long-term potential. she explained that she was open financial rail As a defining achievement for the industry. These systems allow capital to move around the world without traditional barriers. As a result, entrepreneurs will be able to create markets in areas that have long been excluded from financial networks.
Moreover, open finance enables new forms of capital formation. Individuals can participate directly in economic growth without centralized gatekeeping.
Mr. Liu linked this change to greater individual agency and economic freedom. She therefore framed financial infrastructure as a foundation for broader innovation.
In her view, the next step requires discipline. Builders should prioritize systems that support liquidity, settlement, and risk management.
Additionally, the story should follow function, not replace it. As the market matures, Liu suggested that blockchain will prove its value through sustained financial utility rather than hype.
