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aminiman.eth

@amin

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I think we’re in a place where we can move away from TVL being THE metric for L1s and L2s. From a retrospect, TVL came from an era where DeFi was the only web3 vertical, and the only business model was about yield (based on AUM). That said, the business model of chains is about transactions. Finally we’re seeing activities that generates usage of a chain (Social, ID, Supply Chain, Gig Economy, DePIN) where other upcoming applications may not increase TVL, but will still generate revenue for their blockchain ecosystem. From this standpoint, L1s/L2s are effectively virtual economies, and their resilience comes from a diversity of applications that provide services to each other. I’m happy that we’re now seeing a more vibrant and diverse economy of apps, one that I hope will attract and sustain with positive feedback loops. TVL alone can't reflect any of that.
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Gm /dev! Sharing info here for our virtual AI agent hackathon on Dec 9-13! Led by @gaianet, our partners include @coinbase, @hatsprotocol, @eigenfoundation, @bountycaster, @storyprotocol, @collabland, @safe, and others that are rewarding up to $50k in bounties! When: 9:30 AM EST, Monday, 12/9 Where: Twitter/X Live Stream What to Expect at the Opening Ceremony: ⁃ Introduce the Team ⁃ Announce the Hackathon Tracks ⁃ Reveal Bounties ⁃ Meet the Partners This ceremony sets the tone for a week-long session, while converging AI and Web3 solutions to chart new frontiers in autonomy. Important Dates: ⁃ Kickoff: 12/9 ⁃ Submissions Due: 12/13 ⁃ Demo Day and Winner Announcement: 12/14 Register with the link below and join our Telegram channel for resources and support! https://lu.ma/4vt76uvk
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