Wei Dai
Wei Dai
ETH-USDT
ETH+8.54%
ATOM-USDT
ATOM+4.79%
Why will infra accrual any value? Why wouldn't revenue go to apps? There are two answers: - Base case ("AWS"): flat fee (e.g. DA, settlement) + de minimis take rate (e.g. for interop services). Infra could enforce larger take rate utilizing lock-in effect, just like cloud. - Bull case ("App store"): infra end up providing necessary liquidity and / or distribution for apps. Apps rely on infra for liquidity and users while paying a reasonable take rate. I was once much more content with the base case. But now I think that there will be a next-gen infra that will figure out L1-level network effects but for a horizontally-scaled, customizable execution environment, with good fee split.
José Maria Macedo
José Maria Macedo
Cosmos SDK reached PMF (Hype, dYdX, Celestia etc) but ATOM didn't capture any value from it Similarly, the L2 roadmap has clear PMF (Base, Unichain, Converge, Abstract, etc). The worry is whether ETH will capture any of the value from it
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