๐จCONTROVERSIAL opinion๐จ
On Asharq/ Bloomberg, I was asked to explain
#ETH VS
$SOL ๐ฅ by the lovely
@MayaHojeij ๐
Factually ๐
@solana >
@ethereum for Finance especially Traders with the SPOT or PERPS DEX volume. A key area where Ethereum is losing serious market shareโฆ
Especially as
@Uniswap is now leaving the L1 to build its own L2 called
@unichain.
Why is this BAD news for
$ETH holders? ๐ซ
Letโs use this analogy, imagine Ethereum being a mall with shops called DApps ๐๏ธand suddenly, the most popular shop by 100 fold is moving out of the mall to build its own store which removes trading volume & fees๐
The worst part is that not only
#Unichain but ALL L2s like
@arbitrum,
@Optimism @base use Ethereumโs security / EVM technology while only giving back a tiny fraction of the actual fees (as low as 1/100th).
This is like owning an apartment in the building ๐ขbut barely paying any rent or charges for security officers + decentralization/ concierge managing your mail etcโฆ๐๐ปโโ๏ธ๐ฎ๐ปโโ๏ธ:
unchainedcrypto.com/are-l2s-โฆ
Ethereum remains strong for Lending/ Borrowing / Staking / Restaking with
@aave @MorphoLabs @eigencloud @LidoFinance but the leaders really need a higher business acumen and a sustainable strategy ๐ง to help price action.
If I were amongst leadership, Iโd start by immediately creating a model that charges monthly fees to all these L2s to pay back validators / stakers with real yields and avoiding too much of its inflationary supply ๐ฅ
Am I too critical, share your opinion below ๐๐ป๐๐ป๐ซถ๐ป