The 'Infrastructure Premium' of the Cross-Chain Track: Why the Valuation of $LA Should Not Be Limited to Transaction Aspects?
The valuation logic in the blockchain industry has long shifted from 'single public chains' to 'ecological infrastructure'. Currently, in the value distribution of the cross-chain track, the premium of the infrastructure layer (such as verification protocols and cross-chain bridges) often exceeds that of the application layer, just as the value of router manufacturers in the internet era surpassed that of content websites. Lagrange, as the infrastructure for cross-chain data verification, has its value anchor not in a single application but in the 'verification traffic entry point' of the entire multi-chain ecosystem.
According to Dune data, the cross-chain transaction volume exceeded $50 billion in 2024, but 90% of this relies on centralized bridges or consortium chain verification, with the penetration rate of decentralized verification being less than 10%. As regulatory demands for 'permissionless cross-chain' increase, Lagrange's ZKP solution will cater to this incremental demand—each 1% increase in penetration corresponds to about $500 million in cross-chain volume. At a 0.1% verification fee rate, the annual transaction fee scale would reach $500,000, and as $LA serves as a settlement medium for fees, its market value should be positively correlated with ecological traffic. The current circulating market value of $30 million (calculated at $0.30 × 1 billion) is significantly lower than its potential承接的基础设施价值.
