Debate: Should Stablecoin Chains Have an Ethereum L2 or Their Own L1? - Ep. 907
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If we look at things now, the most basic l one, like the most crappiest l one, number 200 in market cap. You cannot steal user funds. You cannot send
them.
Okay? You can do that on the top 20 l twos right now that that make up like what, like 99% of the TVL. This is great. So let me That's the reality right now. So, like, I'm asking you, who's on the side of decentralization here?
You started your sort of critique on rollouts generally on talking about, you know, incentives and how it doesn't make sense for a roll up to give up the position of being sequencer. Yeah. If you are a roll up today, do you really think it is in your interest to steal your users' funds?
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Pleasure to be here again. It's, always love coming on to Unchained. It's gonna be great. Thank you.
Hey, Laura. Nice to see you. Nice to see you, Justin.
So, you guys, we are at this moment in crypto where fintechs and crypto are clearly converging on the same space. And we are seeing that Stablecoins are likely to be one of the first big on ramps, which is why there's probably just so many Stable chains that have been announced recently. Those would include, you know, Arc, Plasma, Stable. And then the big one that really kicked off a huge discussion on Twitter was Stripe's Tempo. You know, after that announcement, Twitter was aflame with people debating the merits of, new ventures creating their own layer ones versus building layer twos on top
Yeah, I think as always, the companies that are built on first principles are the ones that win. And I think I would caution against any kind of motivated reasoning to back into a set of justifications to justify building an Alt in hopes of some sort of Alt L1 premium. I think you saw a movement shift from L2 to L1. There was like an 11% spike. It went way back down immediately. I think these types of valuation games by trying to put yourself in a right reference class of assets is old. This is an old game. That's not interesting anymore. I think the future here is thinking about what really m
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