Ramen

It's time to update your priors, friends. L1/L2 tokens mattered when 100% of L2 chains were straight up gov tokens (read: a meme). Things have changed, and we're now entering a valuation world that will be derived by what an ecosystem can generate beyond raw tx fees. On this, there are very (very) few general purpose chains. → Hyperliquid (from perps now, USDH in the future) → MegaETH (from USDm day 1, proximity markets and rotation int he future) "c'mon man what difference is a stable going to make?" - Gainzy rn Let me show you. Here is an overlay of the top 10 chains by stablecoin TVL, comparing their 30d tx fees generated (chain color) with 2 other bars [light green, dark green]: Light green [bear case]: → Revenue they'd earn over the same period if their stable TVL was internalized at 4% yield Dark green [bull case]: → Revenue they'd earn if their stable TVL was internalized at 8% yield Now, it's unrealistic to assume 100% of their stable TVL would be their native token, especially after USDC/USDT are entrenched, but it doesn't really matter: The multiples on even the bear case (4%) are so high for all chains outside of BSC, Solana and Hyperliquid that you could cut it in half and it'd still be wildly more profitable for the chain than the status quo. Could you imagine what Ethereum would be priced at if it capture ~$800M in revenue every 30d? THEN $ETH is a stablecoin chain. Today, for all those chains (including hyperliquid until USDH is adopted) those green bars identify value leaks in the eco. Money going to Circle instead of users. TLDR: Times are changing and you need to look for teams who think differently. We're identifying traditional value leaks in the ecosystem and turning them into revenue streams. First with USDm/our own stablecoin. Then with Proximity Markets. Find yourself a token company.