Fidelity, an asset manager with $7.1 trillion in AUM ($18.0T AUA), dropped a major Solana health report through its R&D arm, FCAT. Key takeaways: The Good: • Zero outages in 2 years • Real-world assets up 4x to $4.4B; $16B in stablecoins • 8% of all SOL in ETFs and treasuries • 200ms slots live; upcoming Alpenglow targets 150ms finality • Sub-cent priority fees The Risks: • High barrier: $60k+/year validator costs, 200k SOL breakeven • 20 validators control >33% of stake • 40% of stake concentrated in Frankfurt and Amsterdam; TeraSwitch alone hosts 29% • Software still heavily tied to Agave/Jito code Once plagued by frequent outages, Solana now has an unbroken 2-year uptime record. Coupled with high speed and sub-cent fees, it marks a rapidly maturing network. Now it's real test is decentralization. Source: FCATT - The State of Solana: Network Health and Resilience