Anatoly Yakovenko, co-founder of Solana Labs, has firmly rejected the concept of a national cryptocurrency reserve following rumours about Ripple’s alleged proposal to include Solana (SOL) in such a reserve.
The discussion was triggered when crypto journalist Laura Shin tweeted: “Ripple pitched SOL as part of a national reserve in order to make the inclusion of XRP in a reserve seem more legitimate, according to sources familiar with the conversations.”
Yakovenko responded with clear opposition to the entire premise of a government-controlled cryptocurrency reserve, outlining a hierarchy of preferences that prioritizes decentralization.
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Yakovenko’s Three-Tier Stance
In his response, Yakovenko detailed three potential approaches to cryptocurrency reserves, with his strong preference being no reserve at all.
“My reserve order of preference: 1. No reserve, because if you want decentralization to fail you’d put the government in charge of it,” he stated, emphasizing his belief that government control would undermine the fundamental purpose of decentralized finance.
As alternative scenarios, he suggested: “2. Or states run their own reserve as a hedge against the fed making a mistake,” positioning state-level reserves as preferable to federal control.
His third and least preferred option addressed the possibility that some form of reserve becomes inevitable: “3. Or if there has to be a reserve, it’s based on objectively measurable requirements. I don’t care what they are, they can even be constructed such that only bitcoin satisfies them right now, they just must be objectively measurable and rationally justified.”
Ecosystem Confidence in Solana
Yakovenko concluded his response with a statement of confidence in the Solana ecosystem’s ability to adapt and meet any objective criteria that might be established.
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“If there is a target to beat, the Solana ecosystem will get it done,” he asserted, suggesting that while he opposes the concept of a national reserve, the Solana community would rise to meet any technical challenges if such a system were implemented.
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