Entrepreneurs who invested in Solana for the first time in 18 years: Many say they are up to date and have made over $ 1 billion.

In 2018, when Solana Labs CEO Anatoly Yakovenko attempted to raise funds for his strategy (a blockchain network that enables fast transactions), Bitcoin's value plummeted and investors marveled at blockchain startups. Later, a former Qualcomm engineer convinced experts by playing underwater hockey and became one of the first entrepreneurs. The swimming partner introduced Yakovenko, 41, to two swimmers. for

Later that year, five Solana Labs co-founders sold 79.25 million tokens for $ 0.04, helping startups develop the Solana blockchain. Some of the early buyers, including the founders of Multicoin Capital, 500 startups and native Chinese, have benefited greatly from these startups, with some making over $ 1 billion in revenue. for

Today, the Solana token is worth approximately 4,300 times its starting price. The rise in the price of tokens like Solana explains why traditional companies like A16z and Sequoia Capital are reluctant to change their legal framework to hold more digital assets. Here's how Solana's early sponsors achieved one of the biggest profits in their cryptocurrency portfolio. for

According to data from CoinMarketCap, the SOL token is currently the 5th largest token in the world with a total market value of around $ 50 billion. Solana Labs has sold a total of 307 million SOL tokens. This financial token made it possible to initiate the development and improvement of the blockchain network. for

The value of the Solana token continued to rise after seeing that the blockchain network could complete trades faster. Solana claims that its blockchain can process 65,000 exchanges per second, while Ethereum is only capable of 15 exchanges. Ethereum plans to use the update to speed up to 100,000 changes next year, but the update has been delayed for two years. for

As the number of trades created by Solana skyrocketed, the price of the SOL token increased about 105 times, from $ 1.61 at the start of the year to $ 170 on Friday. for

When the Same the vision of Julashko, yakoenenko, "yakol Sawko first" who have different yet far. Yakkovenko in white form to November 2017 or blocking the faster chain, it is well-shaped and successful and doing well and do successfully using historical historical "to make a higher blocking of a higher." Time of synchronous marketing indification verifier. Some of these ideas The frequency frequency of combination at the same time for the cell phone number of his / her job of business.

In 2018, Yakovenko teamed up with two former Qualcomm engineers, Greg Fitzgerald and Stephen Akridge, former Omada Health chief information officer Eric Williams and former co-founder Raj Gokal. They launched Solana Labs just behind the beach in San Diego where a group of Qualcomm colleagues were sailing. for

Here are some of Solana's early gaming ventures.

1. David Quiek

Angel's investors will earn money for $ 0.04 according to the first call of Solana room. Today, it is a party today.

David Quiec has owned Bitcoin since 2014. Yakovenko plays for the Club Puck underwater hockey team in Menlo Park, California. He approached David Quiec after the battle, and Quiec was pleased with Yakovenko's ideas. for

Yakovenko previously mined bitcoin on his own, but forgot his private key. Someone who wants to point out the potential of moving to Quiec. for

Quiec said, “I remember vividly he came out of the pool,” Quiec said, “he was like,“ Hey, I'm building my own blockchain. He is now a partner in the Enginefish marketing business. for

The idea of ​​historical evidence is a bit beyond his comprehension, but it is still driven by Yakovenko's expertise, which makes Quiec credible in the token purchase project. "I agree with him now that he told me," he said. for

2, Edith Young, 500 startups

The venture capitalist bought $ 250,000 in tokens and today the token was worth $ 1.1 billion and returned 4,400 times. for

Quiec also introduced Yakovenko to Edith Yeung, partner of 500 startups, an early investment. for

In December 2017, Yakovenko saw Yeung talking about cryptocurrency research at the Nasdaq Entrepreneurship Center in San Francisco, and sought approval from Quiec, then director of 500 startups. In January 2018, Quiec posted two emails. for

Yeung said that Yakovenko's blockchain plan is very interesting because it differs from other crypto companies that only focus on monetizing the first coin. for

While selling the seeds, Yeung invested $ 250,000 in Solana through 500 startups' $ 10 million mobile aggregation fund and purchased SOL tokens for $ 0.04 each. As of Friday, that amount was equivalent to $ 1.09 billion, a three-year return of 4,400 times. Most LPs still hold SOL, but some have sold their tokens at a slightly lower price. for

Crypto investments have made changes. Yeung had to change the contract between him and the LP money. Instead of using a simple futures contract, he invests in a simple futures contract token. “It's a new word that I have to learn,” he said. for

The entrepreneur's past experience illustrates the steps taken by many venture capital firms today. In other words, it exchanges the legal contract with the partner to accommodate the token investment, as Initialized Capital did. In addition, companies such as Andreessen Horowitz and Sequoia Capital have waived the venture capital exemption by certain legal requirements by registering consultants. In this role, they bear higher compliance fees and declare regulations to have more cryptocurrencies. Yeung found Race Capital in 2019 with his old friend Chris McCann. He told the Limited Partners (LPs) of 500 startups that he didn't want to sell tokens. He believes the value of the token will continue to rise.

“Solana can be the basis of DeFi,” he said. for

3, Vinny Lingham, Multicoin Peev

The company brought Solana a $ 20 million Series A financial roundup in 2019, which Solana raised through her eye token in 2018-19. Multicoin Capital has at least $ 780 million in tokens.

In 2018, Quiec also introduced Multicoin Capital member Vinny Lingham to Yakovenko. The venture capitalist bought the tokens at prices between $ 0.04 and $ 0.2, respectively, in 2018 and July 2019, while SOL was priced at $ 0.23. for

“If you find someone writing numbers, the numbers will go to millions of phones and improve the speed of the business,” Lingham said. "It's an investment." He was also the co-founder of Civic, a DeFi-based startup. for

The company said it would rather invest in tokens than get involved in startups. Multicoin co-founder Kyle Samani said in a tweet in November that he had over $ 1 billion in total in SOL tokens for a lot of money. As of Friday, the company had assets worth at least $ 780 million. The company also expanded its SOL holdings by acquiring SOL tokens held by other early investors in Solana. for

#4 Chris McCann

Chris McCann paid less than US $ 250,000 in initial sales tokens and his current SOL stake is valued at US $ 1.01 billion, up from 4,400 times. for

Chris McCann meets Yakovenko at the Greylock Partners social event. At the time, Yakovenko didn't have much to show other than the white paper.

"There are no products," McCann said, adding that he previously oversaw the operations of the venture capital firm's network. "No PPT, no writing, nothing."

But McCann wanted to know how Yakovenko's experience in data collection and communications had helped him develop Solana. Yakovenko worked for chipmaker Qualcomm for almost 13 years. In 2016, I left the company to start working for Dropbox.

“There are very different ideas on how to extend blockchain and crypto networks far beyond what's important,” McCann said. for

He said that although the coin was worth $ 0.04, McCann had invested less than $ 250,000 in Solana. Today that money is worth $ 1.01 billion, or 4,400 times your income. McCann then left Greylock in 2019 to form a venture capitalist, a start-up company. McCann said he does not sell tokens. for

5. Sam Lessin, Slow Ventures

Sam Lessin bought the SOL for $ 0.04 and $ 0.23 respectively, but did not disclose the special product. The return on investment is 5700 times. for

Sam Lessin and co-founder and COO Gokal of Solana Labs are long-time acquaintances. The former Facebook president tried to hire Gokal as a product manager before leaving the ad in 2014, but to no avail. for

After Lessin spoke with Gokal, Slow Ventures made several investments in Solana, with costs ranging from $ 0.04 in 2018 to $ 0.23 in funding in 2019. Lessin declined to announce the company's capital. , but in three years, Slow Ventures said it came back 5,700x from Solana. for

According to PitchBook, other top Solana sponsors include NGC Ventures, Rockaway Blockchain Fund, and Zee Prime Capital. for

After the symbolic 2018 sale, Solana made a first sale in July 2019 at a price of $ 0.23 to venture capital firms such as BlockTower Capital, Foundation Capital and Blockchange Ventures. Last year, we continued to sell our tokens for less than $ 0.25.