One of my big conceptual shifts for 2020 was fully accepting #Ethereum $ETH as a "global settlement layer"...
That's a lame ass phrase but I think it's true
Ethereum is becoming the deepest, most liquid market for ANY asset... any form of value
1/7
That's a lame ass phrase but I think it's true
Ethereum is becoming the deepest, most liquid market for ANY asset... any form of value
1/7
The most obvious example is #bitcoin trading on Ethereum.
That was phase 1
Now, we're seeing basically every blockchain project in the world create a "bridge" to Ethereum
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That was phase 1
Now, we're seeing basically every blockchain project in the world create a "bridge" to Ethereum
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That means that even if a token trades on another blockchain, it's got a tradeable version of itself on Ethereum, too
In this market, it simply HAS to
Ethereum is where the users are, and it's where the capital is
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In this market, it simply HAS to
Ethereum is where the users are, and it's where the capital is
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The most jarring example of this was when $WAXP announced it was bringing its token "value" onto Ethereum while leaving its NFTs on its own blockchain
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4/7
As the Wax team said at the time: "I would liken Ethereum’s DeFi position to the way London emerged at the dawn of the industrial revolution to become the global center of credit and banking....
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5/7
"As London built upon its position as the trusted custodian of trade capital and foreign exchange, other territories were able to sharpen their focus on the things they could do best - leading to a rapid rise in world trade."
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6/7
New chains spring up... they focus on a niche
To tap capital, users and value, they bridge back to London...
back to where it's all happening... Ethereum
7/7
To tap capital, users and value, they bridge back to London...
back to where it's all happening... Ethereum
7/7
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