Here’s a fun tension inside Solana’s leadership: the Foundation’s president thinks meme coins are useful stress tests for the network. The co-founder thinks they’re garbage. Both of them work on the same blockchain.
Lily Liu, president of the Solana Foundation, said during a discussion with Fundstrat’s Sean Farrell that meme coins should be understood as a “production test” for the network’s performance, not as a defining feature of the ecosystem. In her framing, every degen-fueled trading frenzy is actually a live fire drill for Solana’s infrastructure.
The reframe Solana needed
Liu described meme coins as part of a broader spectrum of assets on Solana, ranging from pure speculation on one end to genuine utility on the other. She’s not endorsing meme coins as valuable financial products. She’s saying they serve a mechanical purpose for the network, even if the tokens themselves are economically hollow.
Meme coins accounted for roughly 62% of Solana’s dApp revenue in June 2025. That’s a staggering concentration in assets that, by design, have no fundamental value proposition beyond vibes and momentum.
