In this episode, Blockchain Capital's Principle, Yuan Han Li, joins Jason and Sanat to discuss ETH value accrual, its money utility, the disaggregation of blockchains, and the importance of ETH as money and economic security. They also explore enforcing commitments in the crypto space and the profitability of execution layers in crypto. The episode concludes with reflections on the future of ETH and recent market movements.
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Quick takeaways
Investors should consider the different layers of Ethereum for a comprehensive investment strategy.
ETH's value is derived from its role as a high-quality reserve asset and its monetary value in the crypto ecosystem.
DA layers like Celestia, Avail, and EigenDA provide infrastructure and capture value within the transaction supply chain.
Deep dives
Layered Approach to Ethereum Investment
Investors need to consider the different layers of Ethereum, including L2s and DA layers, for a comprehensive investment strategy. Ethereum's disaggregation and value accrual across these layers are important questions for investors in crypto.
Ethereum's Future as a Technical Platform
While Ethereum's roll-up centric roadmap is being outcompeted by other layers of the stack, Ethereum's future as a technical platform may not be bleak. Its role as a high-quality reserve asset and its monetary value make it a valuable asset in the crypto ecosystem.
Importance of DA Layers
DA layers, such as Celestia, Avail, and EigenDA, are emerging as core pieces of infrastructure in the crypto ecosystem. These layers provide data availability and have the potential to capture value within the transaction supply chain.
Economic Collateral and Monetary Moneyness
ETH's role as economic collateral and its monetary moneyness give it value and leverage within the transaction supply chain. As the most secure asset in the crypto network, ETH is likely to continue increasing in value and being used in various ways across the ecosystem.
Future of Interoperability and Cross-Domain Transactions
The future of cross-domain transactions and interoperability between different layers and roll-ups remains uncertain. While bridges and shared sequencers are potential solutions, the focus should ultimately be on providing seamless user experiences and value flows within the transaction supply chain.
In today’s Roundtable 005 episode Jason and Sanat are joined by Blockchain Capital’s Principle, Yuan Han Li, where the three discuss ETH value accrual, ETH’s money utility, before diving deep on infrastructure mechanics and Jason’s changing views on ETH. As well as much, much more — enjoy!
Host: Jason Choi @mrjasonchoi . Not financial advice.
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