Layer Ones Win by Having a Harmonious Balance Between Collaboration and Competition

I think it's a product of valuation because valuation in the space is Metcalf's law. So it's about trying to get the most activity on your chain. I guess stagnation plays into that. When the market is stagnant, there's no new capital coming in. So you're fighting for your share of the capital. You can see it in NFT space as well. People become more fanatic about attracting that capital and they coalesce,. tell themselves different stories to try and attract capital via narrative. Once the space starts growing again, it does drop a bit. It's particularly bad in Ben Market. There's always the, hey, let's grow the pie conversation versus just splitting