Solana Co-Founder Toly Opposes Government-Controlled Reserves, Emphasizes Decentralization

In a recent post on X (formerly Twitter), Solana Labs co-founder Anatoly Yakovenko (Toly) expressed strong opposition to government-controlled reserves, emphasizing that such an approach would undermine decentralization.

Toly’s Reserve Preferences

Yakovenko outlined his three-tiered preference for reserves:

1. No Reserve – He argues that placing a reserve under government control would effectively destroy decentralization.

2. State-Controlled Reserves – As an alternative, he suggests that individual states could manage their own reserves as a hedge against potential mistakes by the Federal Reserve.

3. Objective, Measurable Reserves – If a reserve must exist, he insists it should be based on strict, measurable criteria. He even acknowledges that Bitcoin currently meets such standards, but he remains confident that the Solana ecosystem could compete.

Ripple’s Involvement

The discussion also touches on Ripple’s proposal to include Solana (SOL) in a national reserve. According to journalist Laura Shin, Ripple’s initiative aimed to legitimize XRP’s inclusion in a reserve.

The Bigger Picture

Yakovenko’s stance highlights the ongoing debate within the crypto industry about centralization vs. decentralization in financial reserves. His comments reinforce the core principles of decentralized finance (DeFi), advocating against government control while positioning Solana as a competitive force in the evolving landscape.#WhiteHouseCryptoSummit #MtGoxTransfers #GPSonBinance #USJobsSlump #MarketRebound $XRP