Profesor Utonio

just psyops 🧉🇦🇷 @Delphi_Digital l prev. Growth @MakerDAO

[Profesor Utonio @quienesfacundo]

https://t.co/nVKNaYZN04

[Profesor Utonio @quienesfacundo]

In a market with an oversupply of blockspace and too little demand to match it, distribution is the only thing that matters.

The players best positioned to own it are obv tradfi companies (RH, Stripe, Coinbase, Circle etc)

I expect none of those will ship fancy new zk ai tech in their chains, and it won’t matter.

The irony is they’ll probably onboard more users into crypto than all of the high performance chains, simply by embedding crypto rails invisibly into products people already use.

If you’re still optimizing for block times instead of focusing on killer apps ngmi. Competing with corporate chains on distribution with just another fast L1 is a dead end

hyperliquid

[Profesor Utonio @quienesfacundo]

@saintniko the irony of this tweet lol

[Profesor Utonio @quienesfacundo]

@Tiza4ThePeople Look at the good side of it: $TIA is now closer than ever to generating the REV needed to justify its NPV

[Profesor Utonio @quienesfacundo]

@0xkyle__ Thanks for reading 🙏

Maybe as intelligence becomes a commodity, this word will evolve into something new as we develop new standards

[Profesor Utonio @quienesfacundo]

@OnchainLu uncertain future ahead us

we're entering a world where 'GPT this' becomes the new 'google it'

but just like not everyone knows how to search the internet effectively, only those who know how to prompt accordingly and are aware of how LLMs work will thrive over those who are not

[Profesor Utonio @quienesfacundo]

>Once a rollup CLOB has the same UX, superior security (no multisigs) and enough liquidity from early adopters, why wouldn't you bridge over?

network effects. it’s easier to build a centralized protocol first and decentralize parts of the stack later if needed. doing it the other way around is much harder imo

> Hyperliquid itself is proof that decentralization wins if it doesn't sacrifice UX, otherwise why not stay on Binance forever?

are you saying HL is decentralized? 🤔- reason 1: regulatory arb

> Solana is sufficiently decentralized, Hyperliquid isn't, yet Solana can't offer the same UX, whereas rollups can.

yeah, the Solana example i was referring to is that if L1s (like Sui, Aptos, etc) keep verticalizing to fully own the stack, there’s simply no room left for external layers like altDA

[Profesor Utonio @quienesfacundo]

Optimism earned more fees from chains part of the Superchain through revenue-share deals (~44M)* than what those rollups (and all rollups posting DA/proofs) paid in blobs to Ethereum (~12M)

If all (valuable) economic activity take place within the Superchain, and OP pay minimal blob fees to Ethereum, then REV will be higher for OP > Ethereum.

For some people, that should translate into $OP being valued higher than $ETH

Ethereum bears the cost of security/DA and subsidize it, while letting L2s capture ~all economic upside.

See the future that awaits you, Celestia.

*I know this number is not pure profit as Optimism has given $OP grants to some chains to build within the Superchain (e.g. Ink, BASE)

[Profesor Utonio @quienesfacundo]

@ssaintleger @blobscan @SuperchainEco are any of those teams live on mainnet and gaining traction? genuinely asking as i don't know them

[Profesor Utonio @quienesfacundo]

> DA with native interop + embedded light nodes has stronger network effects imo

yes i agree, lazybridging could be a huge differentiator.

> it's not. DA is not storage

in the context that i outlined in the OP, this is the case, as AWS is taking market-share that otherwise would go to Celestia in the form of DA.

> we're still super early (think dial up era or 2nd inning)

it's still a thesis without validation, and i don't see anything that indicates a reversal of the trend (from my pov, i could be wrong ((as always :P))

[Profesor Utonio @quienesfacundo]

Even though the AWS/Celestia analogy seems fair (and I have used it), i think it falls short to some extent

Apps rely on AWS because they *have to*, it's not the same as with Celestia. it's true what you said: it's easier to delegate these infra costs for them in web2.

The difference i see with crypto is that apps don't really *have to* rely on an altDA if they decide to go the fully centralized route. If you think about it, here it's kinda ironic that AWS could be considered a competitor to Celestia lol

Celestia's tech is great have said this multiple times, and it’s a bet on the core values that many of us crypto-natives care about: credible neutrality, decentralization, and permissionless access (e.g. DAS, light clients at ultra-low cost, etc)

But the bear case for Celestia is exactly those values. As proven, users don't care about any of those values, as they're not impediments to using one chain or app over another. The perfect example is obv Hyperliquid, or even Solana.

What if this trend continues (as we've seen)? And apps/chains continue to verticalize in-house, rather than relying on external layers, just to have the decentralization tradeoffs that no user actually demands?

Modular thesis is a great pitch in theory, but i'm growing more and more skeptical that it's the final form crypto will take.

[Profesor Utonio @quienesfacundo]

Even though the AWS/Celestia analogy seems fair (and I have used it), i think it falls short to some extent

Apps rely on AWS because they *have to*, it's not the same as with Celestia. it's true what you said: it's easier to delegate these infra costs for them in web2.

The difference i see with crypto is that apps don't really *have to* rely on an altDA if they decide to go the fully centralized route. If you think about it, here it's kinda ironic that AWS could be considered a competitor to Celestia lol

Celestia's tech is great have said this multiple times, and it’s a bet on the core values that many of us crypto-natives care about: credible neutrality, decentralization, and permissionless access (e.g. DAS, light clients at ultra-low cost, etc)

But the bear case for Celestia is exactly those values. As proven, users don't care about any of those values, as they're not impediments to using one chain or app over another. The perfect example is obv Hyperliquid, or even Solana.

What if this trend continues (as we've seen)? And apps/chains continue to verticalize in-house, rather than relying on external layers, just to have the decentralization tradeoffs that no user actually demands?

Modular thesis is a great pitch in theory, but i'm growing more and more skeptical that it's the final form crypto will take.

[sania @saniaio]

great read

[Profesor Utonio @quienesfacundo]

@robably__ Thanks ❣️ It's not too late yet

[Profesor Utonio @quienesfacundo]

@saniaio Thanks for reading 🙏

[Profesor Utonio @quienesfacundo]

@ZeMariaMacedo then you gonna love my new Uber-chain, an appchain just for drivers - you get slashed if you run a red light

[Profesor Utonio @quienesfacundo]

@toly @mteamisloading @danrobinson @andy8052 not extracting != not generating revenue

they are not mutually exclusive. you can have rev while not juicing your users by e.g. allowing backruns but not sandwiches

[Profesor Utonio @quienesfacundo]

@divine_economy twitter is now full of not just bots, but ghostwritten thoughts and it's only getting worse, so the core question remains:

As intelligence becomes a commodity, what will differentiate us as humans?

auto-shilling since it's related: https://t.co/wNnGXnK5OK

[Profesor Utonio @quienesfacundo]

https://t.co/nVKNaYZN04

[Profesor Utonio @quienesfacundo]

@mteamisloading customers pay fees knowingly. MEV is a hidden cost they are not even aware of

[Profesor Utonio @quienesfacundo]

@alexgolding_ @jasonlk @SiliconVlyBank lmao this is not the kind of crypto adoption i had in mind

[Profesor Utonio @quienesfacundo]

@Zdeadex @yeak__ don't have an strong opinion here but where would you place Coinbase / BASE?

one could argue this is the same case as BASE dumping ETH from sequencer rewards