the mental gymnastics to justify the mania happening on SOL vs ETH is amazing

it's not complicated 

Solana has one centralized layer with all the liquidity 

ETH decided to split the liquidity across 15 L2s

traders want liquidity, so they using Solana

that's the story

ETH was, rightly or wrongly, building for an idealized future where the majority of onchain activity was less speculative (and therefore less dependent on robust centralized liquidity)

meanwhile, I don't think Solana was building to keep liquidity in one spot to incentivize memecoins

it's just a happy accident of them having a simple north star (make single chain go fast) vs ETH's idealized buildoor vision tweaking the roadmap for use cases that aren't proven yet

intersubjective mechanism design @ poidh.xyz - come chill /poidh + follow @poidhbot

can you help me understand what you mean by fractured liquidity by taking some concrete example? 

and what are users not able to do because of the fractured liquidity?

A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

generic defi liquidity does not equal liquidity from people who want to trade

what's the market cap of all memecoins on Solana vs all memecoins on Arbitrum/Base? 

you simply have better odds of your memecoin running up to millions of dollars on Solana because there is more capital on Solana willing to throw at these assets vs all L2s combined

my impression is a ton of the L2 TVL is just boring old ETH/stablecoins locked in generic defi projects (likely farming TVL stats)

I'm talking about the total ball of money chasing memes on Solana vs the individual balls of money chasing memes on the L2s

there's simply less likelihood your meme will hit big numbers on an L2 vs Solana mainnet

Unlearning. Full time product manager. Part time builder/tinkerer on farcaster. Bots: @nftsoffc.

ok thanks, was reading through that thread.

@shazow.eth argument perfectly captures my thoughts on this.

I'm talking about the total ball of money chasing memes on Solana vs the individual balls of money chasing memes on the L2s

there's simply less likelihood your meme will hit big numbers on an L2 vs Solana mainnet

https://warpcast.com/kenny/0x85e82397