mteamisloading

the based and native and immutable rollup propoganda will not stop until morale improves

A couple weeks ago a debate between @smyyguy and
@_Jonahw aired on @theempirepod .

Jonah made a point along the lines of: we need to forecast a forex rate when doing a DCF because yield for stakers is native yield (denominated in the staking token of the L1, not in USD).

Dan returned that forecasts for amount of activity is often denominated in USD. He also makes the point that native token price doesn't proportionally affect that amount of activity in USD (i.e. 10% drop in ETH doesn't mean 10% drop in USD denominated amount of activity). Combined these indicate that the forex rate is kinda being double counted and thus doesn't need to be considered in the DCF.

Jonah kinda dodged this point and emphasized that stakers are getting the native asset, not USD. I think this misses Dan's point by not getting at the idea that future cash flows are not (entirely) denominated in the native asset, so there is inherently some exchange rate already.

I think it's interesting to think about my own user behaviors. I still think about gas fees in USD (i.e. subcent fees on Base is better than 30c on mainnet, not ETH). My demand to transact on Ethereum, though, isn't really denominated in ETH or USDC, it's denominated in the utility that it provides to me and the opportunity cost of the fees i need to pay.
For example I spend much more freely from a crypto debit card I have vs a bank-issued card I have. It's the same USD cost, but it's annoying to withdraw to my bank.

On the other hand, I have no idea how this translate to analyzing a population of users' aggregate demand to transact—could be much different from a macro perspective.

All the smartest people I know in crypto listen to crypto podcasts regularly

testnet infra wasn't working so we're testing on mainnet

i love this company

what crypto projects are onboarding the most developers right now?

Introducing Silencio

A Kaito-powered platform to bribe LOUD people to stfu. Rewards are only unlocked if bribed creators don't mention loudio for an entire week.

Initial Peace Offering later this week. DM for invite code

(beta testers have already bribed over $1M 🤯)

Kudos to Kaito man. Infinex took a strategic bet on incentivizing mindshare with Kaito's new innovative Yap leaderboards ($6m in rewards!!) and it really paid off! Really great initiative!

Shocked to see the high ROI here for Infinex and I hope other teams will follow!

gkaito

remember how excited Ethereum was when Doug teased ETH 3.0 like this?

while the announced Beam Chain wasn't quite as ambitious as 1s blocks and SSF, the zkEVM part is pretty much exactly native rollups

painfully bullish, but no one knows about it

there is a project brewing in the Ethereum L1 infra space.

only a select group of people know about it today.

Validators are tired of waiting for L1 hard forks. They are taking things into their own hands.

Ethereum is about to get so much faster.

100M gas or 6s slot times

current:
36M gas
12s slot times

Ethereum L1 scaling roadmap:

increase throughput reduce waiting periods

@LidoFinance
I, mteam authorized the following signature and control this wallet:
"@mteamisloading looking to participate in Lido Dual Governance Tiebreaker committee with the address 0xb04b6fb471e766d7f21a6aa0e4e25b2aea0a75ab"

sighash: "0x689d956481c40f52da7b530ec652ee270545f20086144dff63a343263f4905750c1b1f6f8d45cd15506371e574204c70294b3f5c417d267fb3f8c6429afdadd81c"

see

What is REV?

REV stands for Real Economic Value and is a measure of how much users pay to use a chain, in total.

Solana generates roughly 2-4x the REV that Ethereum L1 does.

So why is this metric important and is SOL/ETH insanely undervalued?

REV 🧵 time:

Bitcoin is special. It's unique property is simply that it was first. No other coin can reach that "special snowflake" status simply because no other coin can be first.

That doesn't mean Bitcoin doesn't have problems, however.

One of the important differences between based sequencing and shared sequencing is that based sequencing is not even trying to be fair to all chains that participate.

It is fundamentally designed for one driving chain to have a massive network effect and desirable state, like tokens, contracts, etc.

The ticker is

instead of buying back your tokens, what should you do with extra revenue?

contracts having the same address on different chains is both a great blessing and a really annoying fact when trying to do crosschain contract calls

Crypto natives love coinbase but hate coinbase

We had ICM on Ethereum 8 years ago lool

We had ICM on Ethereum 8 years ago lool