Really awesome writing from @aidan_mclau here on wrappers, foundation models, and moats - currently writing some commentary for my substack:
https://t.co/3bLZG5BYgh
Modular scaling approach is superior.
Or is it monolithic approach that will prevail?
Honestly, I don't know. But my inclination to INVEST goes towards monolithic chains.
Modular approach might prevail, but where do you invest if you are certain of it?
$ETH? Maybe L2 tokens like $ARB or Data Availability assets like $TIA?
Investing in monolithic blockchains is straightforward: Attention and money flow is concentrated to one asset.
For example, L2 tokens are considered the "meta" play for Ethereum, so instead of money flowing to $ETH, it gets scattered among multiple assets leading to an average price performance.
But Solana's meta is $SOL.
Wonder what I might be missing in my current thinking framework?
Binance is regaining a large portion of the market share it lost in the back half of 2023, according to the latest data
this is a significant trend reversal
Solana's meta-strategy is very different from Ethereum and many other crypto
I think @jito_labs mitigation to MEV prob works in Sol given the culture and path dependency there
BUT it would NOT work if done in Eth or in general any highly permissionless systems