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Solana’s Chain GDP stayed basically flat QoQ at around $342M, but the composition of revenue matters more than the headline number. Launchpads alone generated $144M in Q1, roughly 42% of all application revenue, largely driven by memecoins and newly issued assets. Solana is still heavily monetizing high-velocity trading activity, which explains why the network can sustain strong fee generation even during quieter broader market conditions.