pet3rpan_

Arguably, the most important feature of Ethereum L2s is that they serve as cultural firewalls, providing distance from an ideologically delusional and operationally gridlocked L1 core community.

L2s aren’t just scalability solutions but lifeboats for cultural refugees.

Teams launch on L2s not just for throughput, but to escape L1’s politics, slow governance, and suffocating social consensus.

Alts are dead. BTC reigns king. Innovation is dead. Tokens are a scam.

These are all things I've heard before.

The right call back then was to bet against the consensus view.

Incredible to look back at how much hype and buzz surrounded EigenLayer while the biggest winner of the cycle: Hyperliquid was completely under the radar for the majority of CT all until it launched its token. Whereas its been almost the opposite for Eigenlayer since its TGE.

If you're long bottoms up innovation, then you should be long alts.

Lol @ people complaining about VCs not funding applications when they barely use any products onchain themselves

!!! @zksync is now EVM equivalent

There's a version of crypto where everyone from founders, builders, investors, traders, retail and community all win together.

Requires positive sum games to play out.

And the end of negative sum feedback loops.

We need a reset.

When we first invested in @Ronin_Network in 2022, there were only 3 projects were building on the network.

Today there are over 139 teams.

One of the few application ecosystem entirely focused on revenue growth and return on token spend.

It will pay to pay attention.

VCs are important stewards for cryptos, and they are supposed to underwrite teams and innovation.

They should be critiqued and held to a high standard.

And they should be punished for negative sum behaviour.

VCs are important stewards for crypto, and they are supposed to underwrite teams and innovation.

They should be critiqued and held to a high standard.

And they should be punished for negative sum behaviour.

Always easier to create hype when a project isn't live.

Far harder to control the narrative with a live trading token.

Reality generally always catches up.

An estimate of all live crypto applications (10k ~) across top blockchains used on a daily basis by 1k+ unique addresses.

The internet roughly had this many websites back in the mid-90s.

We're just at the start of the application cycle for crypto.

All long term successful token will all have the following in common:

1) Product with traction that compounds via network effects
2) Clear token value accrual either via long sustained revenue or attention
3) Giving community and retail discounted exposure to VC valuations

The job of a venture capitalist is to generate outsized returns by taking leveraged risk on innovation and underwrite 0 to 1 market creation and growth opportunities.

Instead we just got a series of pump and dumps.

Weekly volume @gnosispay

Movement has been one of the greatest community public goods and gifts to crypto we’ve seen in a long time - a scam being revealed for what it is, exposing the inner workings of what market manipulation looks like to the public.

Sunlight is the best disinfectant.

Gmove

Mobile first consumer crypto is now possible.

Mobile first consumer crypto is possible.

Flood gates are now wide open for mobile first consumer crypto. I have a feeling we will get our eternal September moment for crypto.