Devin Baker

The Fat Protocol Thesis is being eroded in real time. Not by a faster L1, but by a growing recognition that value capture lives where demand is native and immediate, not abstract and structural.

Toolmakers are closer to what I’d categorize as actual deep tech. They are solving deeply technical problems in order to give humanity fundamentally new capabilities. They’re often the ones pushing the exponential curves. A company developing a new type of semiconductor, new materials, or more efficient solar cells might fit into this category.

Tech... See more

Again this underscores my core premise, which is that Ethereum should maximize economic activity within its platform (including rollups) and ETH should position as a true permissionless, digital store of value (see related tweets from Doug & Sassal) more so than an interest-bearing capital asset.

By 2028 NFTs will be analogous to the United States’ huge underground salt caverns that store crude oil reserves. Mountains of financial, health, education, social, gaming & behavioral data will be widely accessible. Some individuals (<10% of the United States population) will be running their own local models on a tapestry of on-chain &... See more

Truly listening to other’s perspectives is a sign of inner strength.

DePIN (decentralized physical infrastructure) projects are blockchain-based networks where participants contribute resources in exchange for token rewards. These can be physical resource networks like cellular connectivity and energy distribution or virtual resource networks that provide access to computing power, bandwidth, and cloud storage.

Until last year, launching an onchain subscription was difficult, as NFTs and ERC20s had no concept of time embedded within them. Instead, they offered one-time, discrete value transfer between buyers and sellers.

Token allowances and streaming escrow contracts are one solution to this problem, but they are complex and difficult to use.

We made STP... See more

This is the thing that Silicon Valley has always understood better than Wall Street. Silicon Valley was raised on exponentials, while Wall Street was raised on linearity. And over the last few years, crypto’s center of gravity has migrated from Silicon Valley to Wall Street. You can feel it.

Granted, crypto growth doesn’t look as smooth as... See more