Solana Ecosystem Developer Retention Jumps to Over 50%

The Solana Foundation has released “The 2023 State of the Solana Developer Ecosystem” report.

Man explains the brain function behind Solana coins.
Created by Kornelija Poderskytė from DailyCoin
  • More developers joined and remained on Solana in 2023.
  • Solana’s developer retention rate has jumped over 20%.
  • The ecosystem anticipates more developers from hackathons and boot camps.

According to a comprehensive report released by the Solana Foundation on Monday, the developer retention rate on the Solana (SOL) ecosystem surged over 20% throughout 2023.

The report follows increased activity on the Solana Network in December. As reported by DailyCoin, besides non-vote transactions reaching an average of 34 million, liquidity on Solana’s largest decentralized exchanges topped approximately $6 billion last month.

Solana Retained More Developers in 2023

Per the January 8 report, the developer retention rate within the Solana ecosystem “has increased from 31% to >50%,” a sign that more builders are joining and continuing to develop on the network.

The report attributed the increased retention rate to various reasons, including an improved developer onboarding process, increased opportunities in the ecosystem, and Solana’s ascent to “become a clear choice for developers.”

Thanks to the improved retention rate, the foundation highlighted that Solana has consistently maintained 2,500 to 3,000 monthly active developers, a testament to the network’s ability to attract and retain talents.

The foundation further stated that more developers are poised to join the Solana ecosystem soon.

“Through multiple developer bootcamps that vary in focus and difficulty, there are 400-500 senior developers graduating every 6 months with the intention of building on Solana. Data from the recent Solana Hyperdrive Hackathon shows that ~50% of the top 150 submissions and ~50% of the winners had completed one of these bootcamps,” the report read.

The Solana Foundation has sponsored eight hackathons since 2020, through which over 3,000 projects have been launched, and over $600 million in funding has been raised for the projects.

Read why BitMEX co-founder Arthur Hayes ditched SOL for ETH:
Hayes Ditches Solana for Ethereum, Citing $5K “Prophecy”

Stay updated on Paxos’ plan to launch a new stablecoin on Solana:
Paxos Receives Nod to Launch New Stablecoin on Solana

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.