Ship or Die at Accelerate 2025: Driving Real-World Adoption of Solana

Solana Labs is taking a giant leap towards mainstream adoption with its innovative incubator program, focusing on real-world applications and institutional integration. Head of the Solana incubator, Eman Motamedi, reveals exciting developments in finance, data, and payments that could reshape the blockchain landscape.

Summary

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The Solana incubator, a program within Solana Labs, is designed to leverage expertise and resources to help create the next generation of blue-chip companies on the Solana blockchain. In its second cohort, the incubator has shifted focus entirely to driving real-world adoption of Solana technology.

The program covers three main areas: real-world assets and institutional finance, data and machine learning, and payments and stablecoins. Notable projects include Alf Ledger's work on municipal bonds, Marinade's institutional staking solutions, and USCMI's collaboration with the Republic of Marshall Islands to integrate Solana into a national economy.

The incubator provides hands-on development support, fundraising assistance, and collaboration opportunities with ecosystem teams and financial institutions. It aims to work with 4-6 teams over a three-month period in New York City, offering a unique opportunity for startups to work alongside Solana Labs and accelerate their progress.

Applications for the third cohort are now open, with a deadline of May 30th. The program is open to teams at various stages, from those already building on Solana to Web2 teams looking to incorporate blockchain technology.

Key Points:

Real-World Assets and Institutional Finance

Alf Ledger, a team with over 20 years of PIMCO experience, is making waves in the institutional finance sector. They've already managed to put $800 million in assets on-chain and are now focusing on originating assets at the point of creation. Their primary focus is on municipal bonds, with plans to launch their first fund in partnership with Simplify.

Marinade, known for its liquid staking token MSOL, has made significant strides in bringing staking to institutions. They've brought on board the former head of digital assets at Fidelity to spearhead this initiative. Recent achievements include a major partnership with BitGo, a leading custodian, and the filing for the first Solana ETF that includes staking. These developments mark a significant step towards institutional adoption of Solana's staking ecosystem.

Data and Machine Learning

Crunchlab is revolutionizing the way financial institutions tackle machine learning challenges. They've created a platform where institutions can pose modeling challenges, and a community of 8,000 machine learning engineers compete to build the best models. This innovative approach has led to impressive results, with companies like Audia seeing 20% improvements in their modeling accuracy.

Tracker is addressing the issue of data silos in major tech companies. Their recently launched Chrome extension allows users to map the web, aiming to reduce data acquisition costs. Within just a week of launch, the extension has seen an impressive 130,000 downloads, indicating strong user interest in this solution.

Payments and Stablecoins

EZ Labs is tackling the issue of high transaction fees for merchants on credit card payments. Their innovative solution involves immediately converting payments to stablecoins and using these to generate yield on working capital. This yield is then passed back to the merchant, offsetting payment processing fees. The team has seen remarkable growth, with their pipeline volume expanding from $25 million to $1.5 billion during the incubator program.

USCMI is exploring the potential for Solana adoption at a national level, working with the Republic of Marshall Islands. They're not only bringing Solana and a yield-bearing stablecoin to the local economy but also leveraging the country's sovereign status to explore implications for traditional finance, centralized finance, and decentralized finance globally.

Facts + Figures

• Solana Labs incubator works with 4-6 teams max over a three-month period
• Alf Ledger has put $800 million in assets on-chain
• Marinade partnered with BitGo and filed for the first Solana ETF including staking
• Crunchlab has a community of 8,000 machine learning engineers
• Audia saw 20% modeling improvements using Crunchlab's platform
• Tracker's Chrome extension got 130,000 downloads in its first week
• EZ Labs grew their pipeline volume from $25 million to $1.5 billion during the incubator program
• The incubator program had 95 events in the last cohort
• Application deadline for cohort three is May 30th, 2025
• The program provides a relocation stipend for participants to work in New York City

Top quotes

1. "We want to build and work alongside four to six teams max to help them create the next blue chip company on Solana."
2. "Given where we sit within the regulatory environment, within maturity of the ecosystem, maturity of technology, we decided to focus entirely on real-world adoption of Solana."
3. "Marinade actually brought on the former head of digital assets at Fidelity to help bring staking to institutions."
4. "USCMI is exploring what it means for Solana to come into an entire country."
5. "The goal is really to work alongside Solana Labs, put you at the nexus of the Solana ecosystem, in person is at the heart of everything we do."

Questions Answered

What is the Solana incubator?

The Solana incubator is a program within Solana Labs designed to leverage their expertise and resources to help create the next generation of blue-chip companies on the Solana blockchain. It works with 4-6 teams over a three-month period in New York City, providing hands-on development support, fundraising assistance, and collaboration opportunities with ecosystem teams and financial institutions.

What is the focus of the current Solana incubator cohort?

The current cohort (cohort two) of the Solana incubator is focused entirely on driving real-world adoption of Solana technology. This includes projects in three main areas: real-world assets and institutional finance, data and machine learning, and payments and stablecoins. The goal is to create practical applications that can bring Solana's technology into everyday use and institutional settings.

How is the incubator helping to bring Solana to institutional finance?

The incubator is working with teams like Alf Ledger and Marinade to bring Solana to institutional finance. Alf Ledger is focusing on originating assets like municipal bonds on-chain, while Marinade is developing institutional staking solutions. Marinade has partnered with BitGo, a major custodian, and has filed for the first Solana ETF that includes staking, marking significant steps towards institutional adoption.

What innovative payment solutions are being developed through the incubator?

EZ Labs, one of the incubator teams, is developing a solution to reduce transaction fees for merchants on credit card payments. Their system immediately converts payments to stablecoins and uses these to generate yield on working capital. This yield is then passed back to the merchant, offsetting payment processing fees. During the incubator program, EZ Labs grew their pipeline volume from $25 million to $1.5 billion.

How is the incubator exploring national-level adoption of Solana?

USCMI, another team in the incubator, is working with the Republic of Marshall Islands to explore what it means for Solana to be adopted at a national level. They're not only bringing Solana and a yield-bearing stablecoin to the local economy but also leveraging the country's sovereign status to explore implications for traditional finance, centralized finance, and decentralized finance globally.

How can teams apply for the Solana incubator program?

Applications for the third cohort of the Solana incubator program are now open, with a deadline of May 30th, 2025. The program is open to teams at various stages, from those already building on Solana to Web2 teams looking to incorporate blockchain technology. Interested teams can apply through the QR code provided or by following the incubator on social media platforms.

What support does the Solana incubator provide to participating teams?

The incubator provides hands-on development support, including help with web3 integrations and user experience design. It also assists with fundraising by connecting teams with Solana Ventures, market makers, and the Solana Foundation Grants Program. Additionally, the program facilitates collaboration with other ecosystem teams and financial institutions, and helps teams align their product with market fit.

How long does the Solana incubator program last?

The Solana incubator program runs for a three-month period in New York City. During this time, participating teams work closely with Solana Labs and have access to various resources, mentorship, and networking opportunities within the Solana ecosystem.