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SOL Co-Founder Mocks Vitalik Buterin, Backs Meme Coins – Crypto News

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1 year ago

April 27, 2024

Dripp

Solana Co-founder Raj Gokal recently took a firm stance against the skepticism surrounding meme coins. Moreover, slyly targeted Ethereum founder Vitalik Buterin while defending meme coin projects. Also, he attached Buterin’s picture to the post to make his stance bold and clear.

Solana Co-Founder Takes Aim At Vitalik Buterin

In a post on X, Gokal emphasized the importance of embracing the diverse usage of permissionless systems, despite concerns from traditionalists. “Meme coins are scaring away serious builders,” Gokal wrote, highlighting the community sentiment amid the growth of such projects. However, he swiftly followed up with a pointed reminder targeted at Buterin.

He stated, “May I remind you about the ‘serious builder’ who set all of this work in motion?” In addition, the attached blurry picture of Vitalik Buterin served as a not-so-subtle nod to Ethereum’s co-founder.

Meanwhile, Gokal’s statement appeared to defend the enthusiasm surrounding meme coins. The Solana founder also suggested that those who dismiss such trends may struggle to thrive in the fast-paced world of cryptocurrency innovation. “If you’re fragile enough to get spooked by how young people choose to use permissionless systems to have fun, you will quite simply not make it here,” he remarked.

The post is indicative of the ongoing rivalry between Solana and Ethereum, two prominent blockchain networks competing for dominance in the decentralized finance (DeFi) space. However, Buterin hasn’t responded to Gokal yet, leaving room for further discussions around the topic.

Also Read: Crypto Market Selloff: $70B Liquidated As Bitcoin, SOL, XRP, SHIB Prices Fell

Meme Coin Builders Are Seriously Competent

In a recent statement, Lily Liu, President at the Solana Foundation, has come forward to support meme coin founders, echoing sentiments expressed by Gokal. Liu emphasized the competence of many meme coin founders, stating that they are “seriously competent builders.”

Addressing the skepticism surrounding meme coins, Liu pointed out that these builders may not be creating “fundamental value” in the traditional sense of price/earnings ratios. Instead, the Solana President highlighted the importance of community value in the crypto space. In addition, she asserted that meme coin founders are actively constructing primitives for the economy centered around “financialized” communities.

However, Gokal and co-founder Anatoly Yakovenko have always tried to safeguarded the Solana community from potential scams. They advised to not trust random Solana meme coin presales on X. Despite promoting meme coins, they advise to research about the project thoroughly before investing.

Also Read: Solflare Campaign Attracts 500K MetaMask Users to Solana