Solana co-creator Anatoly Yakovenko says that SOL tokens sitting within the reserves of FTX must be redistributed to the bankrupt crypto change’s former clients.
Practically a 12 months after its chapter, Solscan information reveals that FTX nonetheless holds almost seven million SOL tokens in a collection of chilly storage wallets, price about $135 million at present costs.
On social media platform X, Yakovenko says that giving a big stack of SOL tokens to thousands and thousands of recent customers wouldn’t solely assist make FTX customers entire but in addition additional profit the Solana community, presumably by way of onboarding and decentralizing.
“My want can be to distribute the SOL to all of the FTX clients instantly. In all probability the least worst consequence for everybody…
And getting it distributed to five million customers would profit the community over the long run. Win-win in my sincere opinion.”
Yakovenko, often known as Toly, says that the SOL distribution would most likely be extra environment friendly than the drawn-out authorized course of that FTX has been going by way of.
“Looks like it will have been a a lot sooner course of and with much less authorized overhead if all the things was simply evenly cut up throughout all of the customers and let every consumer do what they may.”
As a result of FTX’s giant SOL holdings, Solana was disproportionately affected by the disgraced change’s collapse final 12 months, pushing the Ethereum (ETH) rival right down to $8 after buying and selling at $260 only a 12 months prior.
At time of writing, SOL is buying and selling for $19.35.
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