ok so this is interesting for DATs
if it's easier to do ETFs and specifically staking ETFs for these coins, then DATs are marginally less attractive
and the supply for these coins on the institutional side increases relative to demand
which means that DATs need to start going farther along the risk curve to compete
so a few reasonable conclusions to make:
- more capital will go to DeFi
- with compressed timelines, the bigger DATs have a better chance of eating up smaller ones (think a SOL DAT eating another alt coin DAT etc)
- DATs start acquiring smaller revenue generating startups faster
- increased risk of some DATs doing something degenerate to compete
- mNAV compression happens faster
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