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Hey, everyone here. Just a quick note before we dive into today's episode. BellCurve is going to be taking a short summer break while the team recharges and enjoys some well deserved time off. We've been on the air for three years. Never missed an episode. Well, maybe a couple episodes, but we're never gone for a month off in the summer. So appreciate you all, bearing with, and we'll miss you. And we're not gonna leave you totally hanging because we're basically going to be having a highlight reel of some of the moments that you've loved. Consider it a, a best of bell curve, over the last thre
Yep. Monend is an l one too, so I think it's I think the examples you give maybe that, like, the the common thread is that they're, like, vanilla EVM execution as opposed to sort of expanding the sort of execution logic. Would that be a fair summary of the question?
Yeah. That's a that's a fair summary. I mean, I think this is also a challenge of the l twos in general as well as, like, the backward compatibility, which is obviously that you you wanna kinda build on this, you know, ecosystem of developers who are used to building in the EVM, but, also, you wanna make some changes so you can increase performance because there are some real limitations around the EVM. So Yeah.
It's a good question. I I think yeah. There there are many sides there there are many answers to this. Like, one of them is a practical one. It's just that, like, you know, initially, the priority was just to get something that users wanted at all, the easiest way was to not worry about an EVM. But I think at this point, we have the luxury to kind of zoom out a bit and say, What is the correct thing to do, given that all of finance should happen on one platform? And I think even sort of retrospectively, if we could have changed anything, don't I don't think I would have. I think I think the EV
but
I would not be able to do this for an UVM based PerpDex because there's no there's no execution guarantees. Like, you you can never with an EVM, it's always so there's always some sort of, like, auction system or otherwise to determine which transactions go through. Whereas on a custom execution environment, you can say, well, when this block happens, we need to do these things to make sure the perp balances are all positive, or whatever condition you want, positive within some bound or whatever. You basically say, this logic needs to execute on every block no matter what user they're submitti
One theme that we're very interested in this season is this idea of vertical integration. And when you look at a lot of the DEXs and Ethereum or in crypto today, you're starting to see a little bit of that. Right? Which is, like, Uniswap is a really good example of of a protocol that started at the AMM layer, and they're kind of going up and down the stack, right, towards the distribution layer of having their own UI, like desktop UI and then their own wallet and then down the stack to their own chain. You can look at like the recent competition between PumpFun and Radium in Solana is another
Yeah. So I think vertical integration is obviously super good as a business decision. If you're just a traditional company, you want to own as much of the stack as possible. Think part of that is just like it's often unclear where the value accrues, but another part of that is just reducing the overhead of if you have many people you need to rely on to uphold their part of the deal, then you're kind of your ultimate user experience is only as good as the weakest link in that chain. So and and I think that's als
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