$100 swaps > $5 swaps > $0.1 swaps

L1 > ORU > ZKRU

I do think Ethereum will get there but it will take time.

As Ethereum becomes cheaper, the use cases and user groups it can cater to will expand massively.
i encourage people to zoom out when they think ethereum is doomed because of gas fees

L2's still have their training wheels on but already have TVL's in the range of many ethereum killers

wait until the defi blue chips roll out liquidity mining on L2 and this chart will go nuts
people are worried about UX and liquidity fragmentation but have you seen the process of depositing to @dydxprotocol?

it's a simple deposit transfer from L1 similar to depositing to a centralized exchange

most people on dydx don't even realize they are on an ethereum L2
@SorareHQ is another multi-billion dollar project launching on @StarkWareLtd

nft based fantasy football is an ethereum app!

honestly imo these two projects alone are higher quality than all copy pasta projects on other chains COMBINED
today these applications live in isolation from other L2's

they work well by themselves but they will become even better once they can integrate with other L2 projects

that's what @HopProtocol enables

working with these guys makes me massively bullish

many people think @HopProtocol is just asset transfers

that’s the case today and we’re still far away from supporting enough assets and enough networks

but in the medium term Hop will support smart contract communication across *different L2’s*
that’s when apps will be able to abstract L2’s completely away from the user

have assets on @optimismPBC and need to repay a loan on @arbitrum Aave?

one tx routed through @HopProtocol 😇
btw i have no problem with $SOL or other L1's

i 100x prefer these chains gaining adoption than seeing literal ghostchains like $ADA on #3 spot

but i do think that it's impossible to get 5 billion users on a singleton blockchain

so i prefer coming to terms with it now rather than later and focus on a rollup centric roadmap (which is what ethereum is doing)

running this at home to verify the blockchain is not the wei

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More from @litocoen

8 Sep
i sincerely believe $NDX might be the most undervalued project in DeFi at this point

we're talking about a project with $33m AUM a market cap of $9m and a FDV of $26m

that's lower than the pre-seed valuations some projects without any product or traction raise at!!
but @ndxfi is far from not having any traction

it's consistently at the second spot of protocols in the index sector which, if you're bullish on DeFi, should grow a lot

some of it's competitors have valuations of over $200m with less assets under management..
@d1ll0nk is a genius builder that consistently ships products that differentiate indexed from it's competition

his latest product: Nirn, a yield aggregator that dynamically shifts assets to whichever lending protocol pays the best interest rate

Read 12 tweets
7 Jun
After we released this mainnet demo video, we’ve been asked my many people:

“How is this possible?” “This must be centralized”

No it’s not. It’s Hop. It’s magic and it’s been developed by 3 of the biggest giga-brains I know, for more than a year now.

1/ Before we jump into it, let’s first establish what problem Hop solves.

Every rollup or sidechain has a bridge to facilitate transfers of assets to and from Ethereum.

The speed at which data can be passed from L2 to Ethereum and be considered final is known as its ”exit time”
2/ Needless to explain that this is a major barrier to L2 adoptions.

Exit times create borders between scaling solutions and fragment the DeFi space.

If only there was a way to bring back composability and let users transfer assets instantly between L2 networks..

Enter Hop. 🐰
Read 18 tweets
12 Jan
I discovered a really interesting Index project that has been largely under the radar so far (launched end of december)

Indexed.finance is a protocol to build indices similar to @indexcoop and @PieDAO_DeFi

However, it is different in a couple of regards 👇 Image
1) The underlying assets are not just stored in a smart contract and sit idle

They are in a multi-token @BalancerLabs pool, with each token having a weight representing the proportion of the pool value held in that token
By using an AMM as the holding mechanism for liquidity, index pools can generate returns beyond the price appreciation of the underlying tokens

The Balancer pool has a 2.5% fee, which accrues to token holders

ndxfi.medium.com/introducing-in…
Read 11 tweets
2 Dec 20
In light of @API3DAO's ongoing token distribution on @mesa_eth , I want to share my thoughts on why I think the project has serious potential in the oracle space

Actually, “oracle” might not even be the right word here as API3 doesn’t rly see itself as an oracle provider..
1/ What's an oracle?

Simply put, an oracle is a piece of software that takes information which lives outside of the blockchain and delivers it onto the blockchain

Effectively acting as a bridge between off-chain and on-chain worlds 🔁
2/ *First party oracles vs. Third party oracles*

First party oracles are operated by the owners/API providers themselves

For a price feed that could e.g be @kraken or @coinbase running an oracle on-chain
Read 28 tweets
1 Dec 20
Excellent debate between @ercwl and Udi Wertheimer on whether Lightning is the right technology for scalable bitcoin payments

I was surprised to see that Udi is less of a troll in podcasts than on Twitter.

Highly recommend 👏🏻

link.tospotify.com/rGLyRxv4Rbb
Eric argues that using rollups such as @zksync on Ethereum in combination with trustless bitcoin derivatives such as $tBTC are best suited for that purpose

Mainly bc Lightning has too many UX quirks (channel mgmt etc.)

And Ethereum L2’s having more eyeballs and dev mindshare
A bit sad that Udi made his side of the argument too simple by saying that there is no demand for crypto payments

Not even for stablecoins according to him 🤷‍♂️

Good job @stephanlivera for playing the neutral host 👍🏻
Read 4 tweets
3 Sep 20
1/ I received lots of thankful DM's from people for my thread on @sushiswap so I am going to provide the same for $YFI

Btw, I am still mad at myself for sticking to my principle of not throwing money at unaudited projects and not buying $YFI.

Instead I bought in at $10k…
2) In essence, @iearnfinance is a yield aggregating protocol on Ethereum.

Instead of chasing yields by yourself (which is hard), give it to @iearnfinance, which will allocate it across various DeFi lending protocols to get you the BEST return.

3/ The protocol currently offers five products but it’s developing at light-speed so really, it is difficult to predict what @iearnfinance will or will not be tomorrow.
Read 26 tweets

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