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Author: Admin | 2025-04-28
Google Play store in a similar way the EVM could work and value could accrue to the settlement layer of ETH from L2s/L3s etc.). This would lead to the +EV thing to do being developing Dapps that dominate either side of the Duopoly (or both), along with the fragmentation solvers such as Restaking or things like Arbitrum Research’s Chain-Clusters being value capturing.This is the best possible outcome to drive long-term value to crypto as it will structurally force innovation onto the application layer and create a flywheel to enable total crypto market cap growth via Dapps and L1s moving up in concert with one another.2) A fragmented decentralized/centralized/app-chain future that Cosmos people probably love for the app-chain thesis and centralized players love as they remove the trustlessness (what’s up JPMChain).GMX launching its own chain. Everyone's aiming to own their own stack. Blur/Aevo/Compound was just the start. This is gonna happen 1000x to pump vals. pic.twitter.com/Fcu8o8jAWR— King 💹 (@0xgodking) February 25, 2024This is a frankenstein model of the spectrum of decentralization where value capture is perhaps siphoned by players that orchestrate the fragmentation of a variety of “Blockchains”, perhaps analogous to AWS, Azure, and GCP extracting (and also enabling) major value from the growth of applications in traditional software as well as more novel AI software.Solana Token Extensions4The February 2024 letter by Joe McCann is fantastic on this are another interesting framework to have in this world and could once again create a stepping stone where we see a “centralization → decentralization” dynamic occur in crypto over many cycles in a similar way that we see “bundling → unbundling” cycles occur in software.3) We just keep launching new tokens with high FDVs with new narratives of blockspace because speculation and money. via Travis KlingThis future sucks and I will waste no more words discussing it, but it is a very real one. I’d recommend reading the perhaps a bit roundabout nihilism take here.What Needs To Happen?In order to push towards these desired futures that many who actually believe in crypto want, a few core things need to change:1) We must create longer-term and more sophisticated token lock ups.There is a perpetual nodding of the head that comes with this statement whether you are talking to founders or investors…and then very little changes. This begs the second question: Who is responsible for doing this if we all claim we want it?Investors say
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