Gills

proton_0xC9 | Fan of @ethereum & @apple | @LXDAO

[Gills @proto10061007]

@brucexu_eth 🙋

[AB Kuai.Dong @_FORAB]

好家伙，彭博一篇爆料，把 BTC、ETH 直接拉上去了。

根据内容，特朗普将于周四签署行政令，要求美国劳工部重新评估私募股权、房地产、加密货币等行业，进入 401 养老金投资的计划。

亦要求劳工部与财政部、SEC 等机构协作，研究配套法规调整。以上行业有望，分享约 12.5 万亿美元的养老金入市。

多年来，法律风险令大多数企业退休金管理层，拒绝将流动性差、结构复杂的产品纳入 401 养老金投资里。因此，美国工薪阶层的退休投资组合，长期集中在股票与债券。

此次行政令，被视作特朗普政府向私募市场，敞开大门的最大一步，也是视为接下来牛市继续的超级措施。

12.5 万亿美金入市，准备好了么，家人们！

[Gills @proto10061007]

Speech is okay. We wanna know more.
Lecture is okay. We wanna learn more.
Lecture with even arrogant tone is okay. We are mature and will grab useful stuff.
But panel discussion is not okay. Or at least nowadays.

[Gills @proto10061007]

@cishanjia @Irenezhao_ 不是，熊市大家居然都这么放飞自己的吗？😂

[hidecloud @hidecloud]

The best product I've developed in my career.

[Sea @Sea_Bitcoin]

一夜之间，中国团队做的通用 AI Agent 产品 Manus 刷屏了
看了官网的一些 Use cases，很震撼，也非常期待试用

视频中的季逸超是少年极客，20 岁拿到真格基金的投资，当年的明星创业者
Manus 所属公司的另一个产品 Monica 也是知名的 AI 应用

恭喜 @hidecloud，这一波要爆了 🔥

[Gills @proto10061007]

@Irenezhao_ 哈哈毕竟乡土这个词是有意义在的😆😆就得是这个味才，地道👍～

[Gills @proto10061007]

GM 2025 and HAPPY NEW YEAR

[CZ 🔶 BNB @cz_binance]

2025 is here. Happy new year!

[Gills @proto10061007]

@yurie0577 @junkarma22 @Mikemgsong @cryptopiazi @HoseonAhn @hangsoon97 @fucucuu3 Yurie姐最近怎么开始看DeSci了😂还是说这都是随机的

[Gills @proto10061007]

First time collaborating with @StarkEVM99 on a new RWA project. Have learnt a lot.

Please check our new project and DM me or @StarkEVM99 if you have any questions!

[StarkEVM99 @StarkEVM99]

肝了一个多月，终于来了！

Follow @HelloRWA, RT and LIKE via https://t.co/Ta1ZJt66br to get your $BST
{
"op": "mint",
"tick": "BST",
"amt": "1",
"by": "HelloRWA"
} https://t.co/7urWe85HnN #BnB3 #RWAWallet

[vitalik.eth @VitalikButerin]

@DigimonCBA @MacBudkowski See the part where I talk about zk-wrappers of centralized ID. Absolutely!

[Gills @proto10061007]

@yurie0577 Why not? Always thinking about coffee break when working aren’t we?🤣🤣

[CZ 🔶 BNB @cz_binance]

We are still here.

[Gills @proto10061007]

@drCathieSo_eth Have been watching your ZK intro as intro to myself about it!
Wondering your opinion about biometric information. Since you mentioned it in your introduction regarding applications, do you think it will play a significant role in Web3 communities and use cases?"

[Gills @proto10061007]

Grass Morning

[Lao Bai @Wuhuoqiu]

GM = Goat Morning

[Lao Bai @Wuhuoqiu]

从一级市场视角谈下ETH当前的“困境”

自从@jason_chen998 那篇“怒其不争”的ETH文发酵之后，网上这几天谈论ETH和Solana之争的文已经很多了，无意重复和赘述。我来添加一个视角（非Fud），那就是从一级市场创新和融资的角度，毕竟这些项目很多还没有进入公众视线，还在紧锣密鼓的张罗着

在ABCDE两年聊了超过1000个项目，虽然肯定涵盖不了一级市场的整体现状，但样本数量应该也不算小。2023年那会的感受，ETH和Solana在一级市场各自发展，甚至因为Eigenlayer以及整个Restaking+LRT生态的预期，ETH在一级市场声势还要更剩一筹

24年则有了一个相对大的转向，整个市场对于完全过剩的Infra项目不再买单，“空城鬼链”现象引发了所有人的厌恶。V神本人在8月的《以太坊的下一个十年》口风也明显转变，表示“基本上，我认为我们已经拥有或即将拥有的工具，足以在每个适合使用以太坊的领域中构建最佳的应用”

24年下半年初V神口风的转变，某AI Infra项目近亿美金的种子轮融资, 250万下载量的Matr1x 仅1亿多FDV的开盘 - 三件独立但时间相近事件的叠加在我个人眼里是一个拐点时刻 - 即Infra的巅峰，应用的谷底。在此之后，Infra开始掉头向下，应用开始缓慢提升，当然这是一个拉长至未来几年的时间线，不会一蹴而就。

过去Crpyo几次大的创新，17年的ICO，20年的Defi Summer，21-22年的Play2Earn，NFT等无一例外，全部发生在ETH上，更为重要的是 - 发生在ETH L1上。这也让ETH的币价一路高歌猛进。但现在的市场情绪，从币价层面大家对于Solana破前高信心十足，ETH重回4000则是无尽担忧，更不用提之前提到的ETH破万了。二级市场上Solana PumpFun搞得风生水起，ETH虽然TVL依旧遥遥领先，但应用依旧是20-21年那几个老面孔，且越来越多的用户跑去了L2，L1 Gas常年维持低位

一级市场其实面临同样的问题。过去6个月，我个人明显的感受是，应用型项目多了起来，各种预测/博彩市场，AI应用，Depin，微创新的Defi，Payfi，3A游戏大作等等层出不穷。不确定下一个大创新的突破点在哪个赛道，单凭脑中印象做个项目的生态分布图，大体上是这么个状况

预测/博彩市场 - Ton/Solana/Monad

AI - Solana/Base/Monad

Depin - Solana/MegaETH/Monad

Defi - Arbitrum/Berachain/MegaETH/Monad

Payfi - Ton/Solana/Monad/MegaETH

Game - Sui/Ronin/Immutable X

RWA - ETH/Solana

可以看到，无论下一个大的应用层面创新在哪，目前来看机会最大的是Solana，其次表现不错的则是Monad与MegaETH，除了部分RWA相关的项目之外，极少能见到完全跑在ETH L1上的新项目。L2里Arb和Base是最能打的（单指应用层面，OP基本走了发链Infra这条路），可惜即便上面跑出了爆款甚至现象级应用，ETH L1在现有架构下能在其中捕获的价值大概也寥寥无几

我个人觉得最有希望的新赛道是AI与PayFi，AI目前Solana和Base属于遥遥领先，Base之前完成了史上第一笔AI到AI的支付，最近更是推出了一套新的完全链上AI 代理，可以在3分钟内创建一个自带加密钱包和推特账户(可选)的Al Agent。Solana就更不用说了，上面直接诞生了AI Meme这个新赛道。当然，Goat和ACT如果你真的仔细研究下的话，就知道他们绝不是meme这么简单，而是有潜力开创一个崭新赛道和范式的东西

Payfi则是Ton+Solana两位老将 VS Monad+MegaETH两位新秀的角逐。这是个几乎不会被证伪的赛道，基本上是个人都知道Crpyto其实最最适合的就是支付，这也是中本聪最早发明比特币的初心所在。无非看在哪个时间点，哪条链/项目最终可以实现他这个夙愿。（最后提一嘴，最近几个基于闪电网络做Payfi的项目也出现了，看看这一轮闪电能否崛起）

说这么多，并非是要接着Fud ETH，我本人也不觉得Solana挟这一轮的盛势就可以真的Flip ETH，ETH单凭目前的社区+技术积累就足够坐稳老二的位置。我唯一担心的是，ETH是否甘于现状，甘于创新与价值捕获都发生在L2，自身L1就安心做DA和结算（同时还要面临Celestia等项目的竞争），币价也一直这样波澜不惊。但我本人确实也没有答案，ETH L1当前对于L2的价值补捕获孱弱是个既定事实，L1的GAS和TPS也确实不足以承载Mass Adoption类型的应用。单靠老Defi+可能新的RWA赛道似乎不足以让大家看到ETH冲上1万美金的高峰。如果未来几年，BTC 15-20万，Solana 500-1000，ETH还在三四千这个价格徘徊，之前10年积累的信心与江湖地位也一定会被慢慢消磨殆尽。

如何破局？这大概不是VC的职责，期待ETH的开发者与创业者来告诉我们答案

[Gills @proto10061007]

Same applies to web3 current status, and may partially explain the blizzard situation current web3 De-world is facing.

Not fully applicable since stage of maturity is still essentially different, but can be inspiring?

[Cristóbal Valenzuela @c_valenzuelab]

Runway is not an AI company. Runway is a media and entertainment company. And I actually think the era of AI companies is over.

It's not because AI failed - quite the opposite. It's because AI is becoming infrastructure, as fundamental as electricity or the internet. Calling yourself an AI company today is like calling yourself an internet company. It's meaningless because it's universal. Every company uses the internet; every company will use AI.

For Runway, our focus is art, media, and entertainment at large. We began Runway almost seven years ago with a vision that remains largely unchanged today: AI is a necessary tool for storytelling. To achieve that vision, we had to work backwards to build the best research team that could deliver the best models on which we could build the best products.

I often talk about our work as a new kind of camera. Not in the literal sense of capturing images, but in terms of its historical impact. The camera didn't just create photography - it birthed entire industries, economies, and art forms. Cinema, television, TikTok - all children of that first revolutionary tool that could capture light and time.

I think the work we are doing at Runway is part of a new foundation for an entirely new media landscape. Just as the camera transformed how we capture reality, AI is transforming how we create it. The models and technical capabilities we've built are just the beginning - they're the equivalent of those first daguerreotypes, primitive yet pregnant with possibility. The mistake many make is seeing AI as the end goal. It's not. AI is the mechanism, the underlying infrastructure that enables something greater. The real revolution isn't in the technology itself but in what it enables: new forms of expression, new ways of telling stories, new methods of connecting human experiences.

Media has traditionally operated like a one-way street. Creation flows down established channels to reach consumers. Even when distribution was disrupted - first by social media, then by streaming - the fundamental pattern remained: someone creates, others consume. The roles were clear, the boundaries defined. But we're witnessing something different now. Imagine watching something that generates itself as you watch it - truly dynamic content that responds to you, understands you, creates for you. Universal Simulation and world building. The distinction between creation and distribution dissolves when content can shape itself in real-time. That is the foundation for an entirely new media landscape. It's about fundamentally reimagining what media can be: interactive, generative, personal - yet simultaneously shared and universal.

This is also why pure AI companies are becoming obsolete. The interesting questions aren't about the technology anymore - they're about what we build with it. The next wave of innovation won't come from companies focused on building better models. Models are commodities. The technical foundations are now well-established and known by everyone. There are no secrets. The wave of change will come from those who understand how to use these tools to create new forms of media, new types of experiences, new ways of telling stories. The infrastructure is laid. The foundation is built. Now comes the exciting part: creating something meaningful with it.

The end of AI companies marks the beginning of something far more interesting: the birth of truly new media. Not just new platforms or formats, but entirely new ways of creating and experiencing content. We're not building an AI company. And that's a far more exciting mission. Like it has always been; back to our roots.

[Gills @proto10061007]

@worldnetwork Wondering if security-related ideas will be interested in this ecosystem🤨🤨🤨🧐🧐🧐

[Gills @proto10061007]

リアルの学園都市がついに来るのでしょうか？😳😳😳

[The Block @TheBlockCo]

'Network State' project Praxis secures $525 million to build crypto-friendly city https://t.co/sFNpD8zrMV