More than 2 million small Solana (SOL) wallets holding between 1 and 100 SOL remain undelegated, leaving a significant share of retail capital economically inactive and creating a structural bottleneck for the network’s long-term security, liquidity formation and capital-market ambitions, according to Solana-native premium staking platform Tramplin
A study by the platform found that fewer than 560,000 wallets in the same balance cohort are actively staking, showing a wide participation gap at a time when Solana is positioning itself as the base layer for global internet capital markets.
Staking on Solana is not a peripheral yield strategy but a core mechanism that secures the validator set and aligns tokenholders with the network’s monetary trajectory.
Large pools of non-participating supply therefore represent more than dormant user activity, they signal underutilized economic weight inside one of the industry’s highest-throughput blockchains.
Retail Capital Present But Defensive
Tramplin’s analysis indicates the issue is not user absence but behavioral inertia.
Retail investors continue to hold SOL on-chain following the boom-and-bust cycles of recent years, yet many have shifted into a defensive posture after major market shocks, including the collapses of FTX and Terra.
Instead of exiting the ecosystem, they appear to have reduced active risk-taking and avoided strategies that require ongoing management.
At current staking yields of roughly 5% to 7%, smaller balances generate only marginal monthly rewards, often only a few dollars, which the report says is insufficient to justify the effort of delegation and validator monitoring for many users.
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This dynamic has broader implications for the network’s economic design.
Passive holdings do not contribute to validator decentralization, reduce the proportion of supply aligned with long-term network health and limit the depth of native on-chain liquidity.
Activation, Not Adoption, Becomes Next Growth Phase
The findings suggest the next phase of Solana’s growth may depend less on onboarding new users and more on converting existing holders into long-duration participants.
Even a partial activation of these undelegated wallets would increase delegated stake, strengthen the validator layer and create more stable capital aligned with the network’s long-term trajectory, Tramplin said.
Such a shift would also mark a move away from the speculative trading behavior that dominated earlier cycles toward a savings-style participation model, where staking functions as a base financial primitive rather than a short-term yield strategy.
A Network Health Indicator, Not A UX Problem
The participation gap is increasingly being interpreted as a capital-efficiency issue rather than a technical limitation.
While Solana’s account structure means wallet and stake relationships do not map one-to-one, Tramplin said the scale of the disparity between holders and active delegators points to a persistent behavioral pattern.
From a protocol perspective, higher retail delegation would improve the distribution of economic security and reduce reliance on concentrated large stakers.
From a market-structure standpoint, it would convert idle balances into productive capital that compounds on-chain rather than remaining static.
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