Future of Smart Contract Platforms Gün (Avalanche): A one-size-fits-all blockchain will get dominated by whoever can pay the highest fees (the DeFi folks) They will crowd out everyone else
Other L1s will be valuable too. But they will continue to differentiate. NYC, LA, Chicago, and Houston are enduring cities because their institutions and cultures are different from each other.
Gives a brilliant and very cynical description of the Ponzi nature of yield farming in DeFi. Shed some light on how it is no so different from startups nowadays that keeps raising more money despite net negative return, as long as they have a grand narrative with a big promised profit at the end.
TradFi companies are trying to package together financial instruments other TradFi companies feel comfortable buying so that they don't have to hold crypto due to various regulatory complications.