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Solana had a record-breaking Q1.
Q2? More of a reset & regroup.
Onchain activity fell sharply — and so did yield, burned SOL, and tokenholder value.
We covered it all in Q2-25 edition of The SOL Report.
No noise or hype. Just facts & data w/qtr-to-qtr explanation.
Here’s what every SOL holder needs to know 👇
[link to the Q2 report + 9 supporting data dashboards below]
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Revenue & Yields:
Solana’s Real Economic Value fell 67%, and the average Real Onchain Yield in the quarter fell 54% due to a 66% decline in Jito Tips (MEV).
Total Onchain Yield dropped a more modest 14.5%, supported by issuance, which made up 88% of the yield in Q2 (up from 80% in Q1).
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Token Economics
SOL burned collapsed 88% in the second quarter, offset by issuance dropping 4.95%.
The end result was an increase in the Net Dilution Rate to 5.2% (up 2.7% from Q1).
Furthermore, unlocks related to the FTX estate pushed the circulating supply up 4% in Q2.
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