The Solana Foundation recently dropped a tweet highlighting a fresh episode of the "Billions" podcast, hosted by Pedro Miranda. This time, they featured Nom, the founder of the popular Solana-based meme token Bonk ($BONK), who shared some thought-provoking views on Solana exchange-traded funds (ETFs) and the core philosophy powering their buzzing community.

If you're into meme tokens, Solana's ecosystem is like a playground, and Bonk has been one of the standout players. Launched as a fun, community-focused project, Bonk quickly became a symbol of Solana's vibrant meme culture. But in this episode, Nom goes beyond the memes to tackle bigger questions about how traditional finance (often called tradfi) intersects with crypto.

Nom's Skeptical View on Solana ETFs

In a clip shared in the tweet, Nom offers a contrarian perspective on Solana ETFs. For those new to the term, an ETF is like a basket of assets you can buy and sell on stock exchanges, making it easier for everyday investors to get exposure to things like cryptocurrencies without dealing with wallets or blockchains directly.

Nom compares it to Bitcoin's ETF experience. He points out that when BlackRock launched its Bitcoin ETF, it didn't necessarily spark a wave of new users setting up Bitcoin wallets or diving deep into the ecosystem. Instead, many people just bought the ETF through their regular brokerage accounts, treating it like any other stock. They got the price upside without ever touching the actual blockchain.

Applying this to Solana, Nom wonders if an ETF approval would really bring fresh users onto the network. He suggests it might even pull some existing users away from on-chain activities. Why? Because with an ETF, you don't have to worry about private keys or custody – your Solana exposure sits safely in a Charles Schwab or Fidelity account. This could mean fewer people paying gas fees (those small transaction costs on the blockchain) or signing transactions with their wallets.

Nom draws a clear line: Holding an ETF makes you a network enthusiast, but to be a true participant, you need to engage directly – like putting data into blocks and contributing to the network's operations. It's a reminder that while ETFs can boost accessibility and prices, they might not deepen real-world adoption.

The Philosophy Behind Bonk's Community

Beyond ETFs, the episode dives into what makes Bonk tick. Nom, described as a core contributor (though widely known as the founder), emphasizes Bonk's community-driven roots. On Solana, where speed and low costs make it ideal for meme tokens, Bonk stands out by focusing on giving back to the ecosystem.

Think of it this way: Meme tokens often start as jokes, but Bonk has evolved into something more. They've built diverse applications within their "Bonk universe," from decentralized finance (DeFi) tools to community initiatives. Nom talks about the importance of contributing to Solana's growth, which aligns with the network's ethos of decentralization and innovation.

He also touches on the challenges of bridging tradfi with crypto. This is where things like ETFs come in, but as Nom argues, true integration requires more than just financial products – it needs people actively using the tech.

Why This Matters for Meme Token Enthusiasts

For anyone tracking meme tokens, this podcast is a goldmine. Solana has been a hotbed for memes like Bonk, which not only entertain but also drive real engagement. Nom's views challenge the hype around ETFs, urging the community to focus on on-chain activity over passive investing.

If you're building or investing in blockchain projects, episodes like this highlight the need for strong communities. Bonk's success shows how philosophy – like giving back and fostering participation – can turn a meme into a movement.

You can catch the full episode on Spotify or Apple Podcasts. The Solana Foundation's tweet has already sparked discussions, with replies echoing excitement about Bonk and calls for more interviews.

As Solana continues to grow, insights from leaders like Nom help us understand where meme tokens fit in the bigger picture. Whether you're a Bonk holder or just curious about Solana's meme scene, this is worth a listen.