Welcome back to the Gwart Show! Today we have Haseeb Qureshi and Tarun Chitra about whether VC-funded tokens are vaporware or valuable investments. They tackle fundamental questions about crypto market structure, token valuation models, and the long-term economics of L1 blockchains. Is there a carrying capacity for tokens? Are smart contract platforms overvalued? Will L1s converge to their utility value or maintain monetary premiums?
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# Notes:
- Crypto market caps follow power law distribution
- Solana valued at ~$80 billion despite skepticism
- Stablecoin market grew from $130B to $240B
- Bitcoin dominance may increase over time
- Most tokens trending down in USD since launch
- L1 valuation combines utility, equity & monetary use
Timestamps:
00:00 Start
03:09 Infinite tokens - Haseeb
06:10 Infinite tokens - Gwart
09:55 Infinite tokens - discussion
11:47 How to value a token
21:32 Proof of stake
30:02 Staking pro & con
33:38 ETH value
35:18 ETH is money (or not)
39:20 Value of new L1s
44:44 ROI for tokens
46:33 REV
50:46 Payments.. meh
👋 The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs is building Atlas, the blockchain purpose-built for verifiable finance. You may know of Ellipsis Labs by their first product Phoenix, a fully on-chain orderbook DEX that’s done over 50 billion dollars in unincentivized volume. They are one of the strongest teams I know in crypto. If you’re interested in working for a mission-driven company, Ellipsis Labs is hiring engineers passionate about crypto and finance to work on Atlas. You can learn more and apply on Ellipsis Labs’ Twitter “at Ellipsis_Labs”. Don’t forget to check out Atlas too, @atlasxyz on Twitter.
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The Gwart Show | Bitcoin Tech & Culture