SOL
Solana · L1
Score qualifies for T2; held by Distribution 0 (needs 1).
Key facts
- Circulating 589.7M, 93%
- Locked or unvested 46.6M, 7%
- No cap: supply can keep growing, see Supply discipline
Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.
Assessment
Solana's engine is monetary: $1.61B of SOL and liquid staking tokens is posted at third-party lenders, while only half of base fees is burned and priority fees go entirely to validators, so little of its revenue reaches holders. Inflation runs ~3.4%/yr on a curve falling to 1.5%, set by stake-weighted SIMD votes; faster disinflation passed Aug 28, 2026 but is not yet active. Stalling the chain needs ~40% of stake, about $18B, but since the Oct 21, 2026 Alpenglow switch every validator runs an Agave-based client. What holds it back is distribution: seed, early sale, team, Foundation and community reserve allocations put ~77% of the 636M supply with insiders.
How value reaches holders
50% of base fees burned (~648 SOL/day) vs ~60K SOL/day minted; priority fees 100% to validators (SIMD-96); inflation ~3.4% falling toward a 1.5% terminal rate. Oct 19, 2026 review: SIMD-0553 (fee-burn reform) failed Aug 28, 2026 at 53.9% (66.67% needed); SIMD-0550 (faster disinflation) passed but is not yet active
Score anatomy
Demand
30 / 45: the stronger of two routes, plus adoptionWhy would anyone hold it: does value reach the token, and is the network or product used today?
Small or discretionary flows, plumbing under 25%, or buy-and-hold into a treasury
$100M-1B/yr
$1.61B of SOL and SOL LSTs posted at third-party lenders (Kamino $797M, Jupiter Lend $700M, Save $83M), DefiLlama Oct 23, 2026; gas counts only 1.
$1-10B posted as collateral at venues the issuer does not control, or 10-30% of supply in measurable monetary usehigh confidenceHow this is scored
Solana holds $15.9B of stablecoins (+5% YoY), $5.8B TVL and $238M fees TTM; second-largest app economy after Ethereum, fees flat on a 30d YoY basis
Leader: a top-three network or product in its category by use, holding or gaining sharehigh confidenceHow this is scored
Two routes, the stronger counts
Soundness
16 / 40Can a long-term holder trust the rules: supply, float, distribution and control?
~3.4%/yr inflation (~60K SOL/day) on a curve falling to 1.5%, no cap; validators change it by stake-weighted SIMD vote (SIMD-0550 passed Aug 28, 2026, not yet active).
3-7%/yr net growth without a hard caphigh confidenceHow this is scored
Float 93% (589.6M of 636.2M); the locked remainder is a small tail with no large dated unlock.
Small tails only, or 85%+ of supply liquidhigh confidenceHow this is scored
Seed 16.2%, founding sale 12.9%, validator sale 5.2%, strategic 1.9%, team 12.8%, Foundation 10.5% and community reserve 38.9%; the CoinList auction was 1.6%: insiders ~77% of 636M
Insiders received over 50%, or one organization directs over 30% todayhigh confidenceHow this is scored
Stalling Alpenglow needs ~40% of 438M SOL staked (~$18B), but since the Oct 21, 2026 switch every validator runs an Agave-based client (Frankendancer unsupported): one independent client; last halt Feb 6, 2024
Attack cost $100M-1B with the top entity under 35%, or contracts immutable or upgradeable only by on-chain vote with a 7+ day exit window on a base layer scoring 4+medium confidenceHow this is scored
Durability
11 / 15Is it big, proven and reachable by institutions?
$61.7B market cap (band 5), $3.0B/day median volume (band 5), no flags.
Systemic: over $10B market cap and $500M/day+How this is scored
Coordinated restarts through Feb 2024 (panel 2-2-2-3)
3-5 years, or a rollback, coordinated chain-wide halt or restart, or a $50M+ exploit in the last 5 yearshigh confidenceHow this is scored
US staking ETFs ~$1.6B
US spot ETFs over $500M from several issuershigh confidenceHow this is scored
What would move it up
To reach T2 Strong, one gate is still open:
- Distribution 0needs 1(open)
- Score 57gate 55(met)
- Value engine 3gate 3(met)
- Adoption 4gate 3(met)
- Supply 2gate 2(met)
- Security 3gate 2(met)
- Float and unlocks 4gate 1(met)
- Scale 5gate 3(met)
Tier outlook
Stable
- Distribution stays at 0 while insider allocations account for ~77% of supply
- Supply rises to 3 once inflation falls below 3%/yr, sooner if SIMD-0550's faster disinflation (passed Aug 28, 2026) activates
- Holder routing rises if a fee-burn reform passes after SIMD-0553 failed at 53.9% against the 66.67% needed
- Security rises to 4 if a second independent client returns to production with over 10% of stake
- Usage holds at 3 while SOL posted at third-party lenders stays above $1B ($1.61B on Oct 23, 2026)
Compare with
How the ranking works and how SOL compares: see the full ranking. This entry as JSON:
GET https://tokens.10102.io/api/v1/tokenomics?symbol=SOL