1/12) Ethereum is facing a serious dilemma

A massive misalignment of incentives is the cause of a deep corruption

Driven by L2s pouring money into this ecosystem, overshadowing L1 funding

The difference between a few million & tens of billions is why ETH abandoned L1 scaling:

Hands up if you were su zhu’ed, do kwoned, or alex mashinskied this cycle.

🤚

And because Aztec Connect relies on Ethereum for execution, protocols keep liquidity and contracts on mainnet while retaining Ethereum ecosystem composability.

That means accessing the benefits of a private rollup with no liquidity fragmentation and no contract redeployment.

nothing will ever give me the same adrenaline rush as aping my whole net worth into the yam finance liquidity mining contracts

Aztec privacy rollup is live 👀

Wife: You seemed stressed over your internet money. Let me get you a snack.

The snack:

the fact that gary gensler is goinng after uniswap but not Bitboy Crypto shows you exactly how badly regulators are failing us.

A big problem with US policy broadly: we lack vision.

Everyone has a long list of stuff they hate. Everything we have now is bad. Everything we're trying to do is worse. People who've succeeded are particularly awful. It's exhausting.

Where's our sense of optimism & progress?

Happy one year to beacon chain launch! 🎉

82k epochs
263k validators
8.4M staked eths
$40B staked

Much more to come! 🚀

A thread of Ethereum things I'm done talking about.

I'll add to this list over time.

1/ ETHEREUM PREMINE!

This is the Ethereum Supply with 'Premine'.
- 50% sold in permissionless ICO
- 39% mined
- 10% 'premined'

Vitalik didn't get much. EF only has .29% today.

He cannot be stopped

I find it incredible that Vitalik, as a founder of Ethereum, only received around ~553k ether (~0.7% of the total supply) and overtime his share was diluted to ~0.47% due to the block subsidy.

How many founders only takes <1% share of their venture? I can't think of any.

Canti Not even a cash grab, but an NFT project that is using funds raised so that kids can see their parents. Absolute rock bottom for what should be a community culture of hope, freedom and potential.

There is nothing in this world that could display the sad, directionless nature of today's Bitcoin maximalist culture in a more poignant or succinct manner than those people openly—proudly—turning on Ross Ulbricht over an NFT.

some geeks having fun creating the first websites with fun art and fonts in 1990s: what's the point, this is a scam

some geeks having fun creating loveable pictures registered on the blockchain in 2020s: what's the point, this is a scam

Pretty exciting times for ZKRs
zkSync announce $50m from a16z
Polygon announce Miden
StarkWare announces $50m @ $2bn
🚀🚀🚀

Hot take: Everyone is wrong about the Metaverse.

here's my 3 part theory..

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