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Ethena's L1 Shows Fat Apps Are on the Rise. Can They Beat Fat Protocols? - Ep. 804

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Manage episode 472594358 series 1822984
Content provided by Laura Shin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Laura Shin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Blockchains were supposed to capture the majority of the value in crypto. But what if that’s wrong?

For years, the Fat Protocols Thesis argued that blockchains would be the biggest winners. But new data suggests that apps like Uniswap, Ethena, and others are now out-earning many networks.

Are we watching the rise of “Fat Apps” instead?

On this episode, Ryan Watkins, Co-founder at Syncracy Capital, talks about:

  • Why the biggest apps are generating more revenue than many layer 1s
  • Why Ethena is launching its own blockchain
  • What this means for Ethereum, Solana & other L1s
  • How blockchains can compete on value capture

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guest

Links

Timestamps:

  • 👋0:00 Intro
  • 💰 2:12 Why apps are out-earning the blockchains they run on
  • 🔗 5:44 Ethena’s move: why it’s launching its own chain
  • 📈 8:33 The rise of “Fat Apps” and what it means for crypto
  • 🚀 12:50 How today’s crypto founders think differently from past builders
  • 🏆 15:51 The blockchain architectures that will dominate
  • ⚖️ 22:32 Whether L1s can compete in this new environment
  • 📊 241:27 How blockchains accrue value and why MEV isn’t the best metric
  • 📰 31:00 News Recap

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

871 episodes

Artwork
iconShare
 
Manage episode 472594358 series 1822984
Content provided by Laura Shin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Laura Shin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Blockchains were supposed to capture the majority of the value in crypto. But what if that’s wrong?

For years, the Fat Protocols Thesis argued that blockchains would be the biggest winners. But new data suggests that apps like Uniswap, Ethena, and others are now out-earning many networks.

Are we watching the rise of “Fat Apps” instead?

On this episode, Ryan Watkins, Co-founder at Syncracy Capital, talks about:

  • Why the biggest apps are generating more revenue than many layer 1s
  • Why Ethena is launching its own blockchain
  • What this means for Ethereum, Solana & other L1s
  • How blockchains can compete on value capture

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guest

Links

Timestamps:

  • 👋0:00 Intro
  • 💰 2:12 Why apps are out-earning the blockchains they run on
  • 🔗 5:44 Ethena’s move: why it’s launching its own chain
  • 📈 8:33 The rise of “Fat Apps” and what it means for crypto
  • 🚀 12:50 How today’s crypto founders think differently from past builders
  • 🏆 15:51 The blockchain architectures that will dominate
  • ⚖️ 22:32 Whether L1s can compete in this new environment
  • 📊 241:27 How blockchains accrue value and why MEV isn’t the best metric
  • 📰 31:00 News Recap

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

871 episodes

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