Stripe and Circle Don Launch Proprietary L1 Chains
Stripe an Circle don talk say dem wan launch dia own L1 chains. Ethereum fans dey ask why these companies no build for L2 networks instead. The answer na simple: vertical integration dey profitable. If dem launch L1 chains, stablecoin makers fit control all transaction fees and user flow, wey go help dem get more money and market power.
Just like dat, Phantom wallet decide to join Hyperliquid perpetuals instead of building on Solana-based DEXs. Hyperliquid process $371 billion volume in 30 days, while Solana top DEXs Jupiter and Drift get $52 billion. This show say business wahala dey, dem dey follow multichain plan.
Big DeFi platforms like Aave dey run multichain for at least 15 networks. But some new L2s like Celo, Linea, zkSync, Scroll and Soneium no make profit, so developers stop to deploy. Like Adam Smith talk, people dey act for their own benefit, dem wan profitable infrastructure pass to be loyal to chain ideology.
Neutral
Even though corporate L1 chain dem dey launch show say institutions dey commit more, dem no directly affect spot prices or DeFi yields. People wey hold ERC-20 tokens no dey get direct benefit as fees don dey move away from Ethereum. Past tins like when big dApps launch their own networks no really change price much for short term but e cause long-term fragmentation. Traders fit gradually move their allocations to these new chains. Overall, market go likely stay neutral with slow reevaluation as data on use come out.