IMO Solona borders being a Ponzi-sceme or is a Ponzi-sceme. The answer to this lies in the future.

One should see Solona as a shop which sells paper. They are not responable for what people write on all that paper and they also can't delete any text as long as the Solona blockchain keeps running. After it stopped running, most likely the chain will still be downloadable from some museum-alike website, but this wont happen soon.

Solona does not have a maximum supply or at least something similar, this puts the project in great risk of going down big time in the next bearmarket, in the last bearmarket they also dived deep.

Regarding all these tokens on Solona - on Solona and not only on Solona it's very easy to start a token. Just copy/paste another token and some other things - and you have a token.

Solona has a lot of hype now, yet it might have the same future as Rally (RLY) has. Rally is a Layer 2 coin, on Ethereum, and it's about being able to create tokens. It has had succes at first, but once the developers don't get paid anymore, such projects collapse.

Plenty of exchanges still offer Rally. Even though as far as I know it failed a long time ago. The coin lost 99% if compared to 2021. Far most kind of decent exchanges have delisted the coin.

Now here is the problem with Solona: it sells new SOL all the time to pay the developers. (Or does something which comes down to the same thing). With such tokenomics, a Rally-alike total collapse is an accident waiting to happen, the project is superrisky.

So with new meme-coins which only run on Solona, there is a double problem: these coins themselves will far most likely fail and Solona might also fail.