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# 100y Questions Who Captures Value From Solana's Financial Rails
- URL: https://btcpeers.com/100y-solana-financial-rails-value-capture-kalshi/
- Published: 2026-11-04T14:33:11.000Z
- Updated: 2026-11-04T14:33:11.000Z
- Description: 100y uses Kalshi's Solana distribution to question whether blockchain adoption translates into value for the networks beneath financial applications.
- Author: John Williams
- Tags: News

100y argued on November 4 that blockchain adoption can grow without the underlying networks capturing most of the economic value, pointing to Kalshi's distribution through Solana as an example. His essay asks whether crypto needs more applications whose core business depends on blockchain, beyond using it for financial access.

The distinction is about where value accumulates. In 100y's view, platforms that own the customer relationship can capture the benefits while treating blockchain as one component of their product. He presents this as a concern about the industry's direction, rather than a measurement of revenue shares.

> No One Needs Blockchain
> 
> — 100y (@100y\_eth) [November 4, 2026](https://x.com/100y%5Feth/status/2117894246657351883?ref=btcpeers.com)

## The Solana example behind the argument

Kalshi [announced tokenized predictions on Solana](https://news.kalshi.com/p/kalshi-solana-tokenized-predictions?ref=btcpeers.com) through Jupiter and DFlow on December 1, 2025\. That rollout is historical context, not a new launch this week. The announcement described onchain execution through a hybrid request-for-quote system and builder codes allowing applications to earn fees and rewards tied to volume.

DFlow's [launch explanation](https://solana.com/news/dflow-prediction-markets-api?ref=btcpeers.com) described a tokenization layer connecting Solana users with Kalshi's offchain liquidity. Users express an intent onchain, liquidity providers fill the order, and tokens represent the purchased prediction position. The account described redemption of winning tokens after a market resolves.

For developers, that separates two design choices: building an underlying market and making an existing market accessible through a wallet or application. Tokenization can expand what developers can integrate without making every part of the originating business blockchain-native.

## A debate about value capture

In a [follow-up reply](https://x.com/100y%5Feth/status/2117983028324774103?ref=btcpeers.com), 100y acknowledged blockchain's benefits while explaining his disappointment that its role often remains financial infrastructure. That qualification matters: his argument calls for broader applications, not abandonment of the infrastructure already built.

The open question is economic. The launch documents explain how access works; they do not provide a full accounting of which participants capture the resulting value. Wider distribution and stronger value capture for a network remain separate things to establish.