
Does Solana Have a (Dis)inflation Problem?
Solana's protocol is scheduled to wind down the inflation that funds most staking rewards, on the assumption fees will replace it. But are fees keeping pace? A research note on the structural gap.
Rigorous, independent analysis of blockchain-based financial infrastructure and its implications for institutional markets.
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Solana's protocol is scheduled to wind down the inflation that funds most staking rewards, on the assumption fees will replace it. But are fees keeping pace? A research note on the structural gap.

Does a native token's price affect the operational reliability of the network it powers? A research note for bank risk managers on proof-of-stake infrastructure, validator economics, and network resilience.

Permissionless blockchain protocols combine open access, composability, rules-based governance, and comprehensive transparency at scale. In an open letter to the FCA, the Solana Research Institute sets out how financial regulation across seven domains can be adapted to what these systems are, rather than forcing them into the institutional forms of traditional finance.

As major payment networks move stablecoins onto public blockchain rails, the question facing treasury and payments teams is no longer whether this infrastructure is real — it is what it takes to build it into core operations. Senior practitioners from across the institutional financial ecosystem spent two hours working through exactly that at the SRI's invitation-only roundtable in London in June 2026.

The transformative potential of tokenisation will be realised through open, permissionless networks, not through applying DLT techniques inside the existing structure of finance. In its response to the Central Bank of Ireland's Discussion Paper on DLT and tokenisation, the Solana Research Institute sets out how regulation should assess these systems by their economic substance rather than their technical form.

The UK would be alone among major jurisdictions in regulating non-custodial staking and wallets as financial services. The Solana Research Institute's response to FCA CP26/13 explains why that misreads the risk.

Between 1603 and 1868, the Tokugawa shogunate imposed a strict isolationist policy on Japan known as sakoku, or "closed country" The UK's financial regulators appear set to repeat the same mistake with crypto.

This is a guide to Solana for people who work in Financial Institutions (“FIs”). It is intended to provide a clear-eyed description of Solana from six different perspectives that an analyst at a fInancial institution might consider if tasked with evaluating Solana as a venue for their firm’s business.

Senior practitioners from State Street, the DTCC, R3, and others met in London to debate the role of public blockchain in financial markets. A recap of the Solana Research Institute's inaugural session, held under Chatham House Rules.