the next cycle’s real narrative isn’t L2s or AI coins it’s feeder startups, protocols that can 10x their revenue line on command why it matters token buybacks live and die on cashflow > no fees → no ammo most defi stacks can’t flip the switch fast enough but a few venues sit on growth levers that scale overnight: > $hype: crank leverage, list another meme, fee line spikes > $pump: raise pm fees by 1 bp, launch daily jackpots, watch volumes triple > $ena: every basis-point tweak on usde funding prints dollars the the next epoch incoming challengers already see the playbook: @PlasmaFDN , @LineaBuild and friends aren’t shipping new tech, they’re shipping built-in revenue knobs legacy defi only keeps up if it has a giant parent funnel think aerodrome or morpho riding coinbase traffic; otherwise the math just doesn’t work look back at every era of crypto: the free-money phase always closes we’re entering the feeder era, protocols engineered as cash machines first, “decentralized vision” second miss this pivot and you’ll be wondering, in hindsight, why it was so obvious

@0xchromium i would like to see more allocation i was one of the first to start a thread about them but I managed to contribute less than I expected