Solana Founders Embrace memecoins, Say AI Agents Overrated: Survey

According to survey data released on January 3, project founders within the Solana ecosystem are enthusiastic about memecoins but believe artificial intelligence agents are overrated and are concerned about the increasing maximum extractable value (MEV) issue on the network.

A Blockworks Research survey of 42 Solana founders revealed that around 76% view memecoins as 'mostly good.' However, there was scepticism about AI agents, with 16% considering them 'the most overrated Solana sector,' according to the survey.

Furthermore, the founders mentioned that if they were unable to develop on Solana, they would choose either Base, Coinbase’s Ethereum layer 2, or Sui, a layer 1 rivalling Solana, as per the survey.

Base mulls launching tokenized COIN stock

Coinbase is contemplating offering tokenized shares of its stock to U.S. users of Base, its Ethereum layer-2 network, according to a post by Base developer Jesse Pollak on the X platform.

According to Pollak in a January 3 X post, tokenized COIN shares are already accessible to non-US users via protocols like Backed, a platform for tokenized real-world assets (RWA).

COIN on Base is “something we are looking into in the new year,” Pollack said, adding that eventually, “every asset in the world will be on Base.”

Pollak mentioned that Coinbase is currently in an 'exploratory phase' without any solid plans at the moment as the exchange aims to comprehend how to comply with US regulations.

“We need regulatory clarity and improvements that embrace onchain as an open platform to unlock this for everyone,” Pollack added. 

Ethena targets TradFi adoption with synthetic dollar in 2025 roadmap

Ethena is getting ready to launch a new cryptocurrency product designed to appeal to traditional financial institutions (TradFi).

The blockchain platform intends to release the new iUSDe product in February. Based on its synthetic dollar, sUSDe, iUSDe incorporates a “simple wrapper contract” that imposes transfer limitations at the token level, as outlined in Ethena’s 2025 roadmap published on Jan. 3.

Ethena's roadmap indicated that their main objective for the first quarter of 2025 is to work with TradFi distribution partners to provide iUSDe to their clients. Ethena intends to disclose these partners by the end of January.

“The singular focus for Q1 2025 will be working with traditional finance distribution partners to enable their clients to access iUSDe.”

The primary audience for the product comprises asset managers, private credit funds, exchange-traded products, private investment trusts, and prime brokers.