Founder far.quest & @wieldlabs.eth. Investing miy.com ventures. FID #274. Previously Square/Cash App. https://hiimnico.xyz/

In these examples, distribution and differentiated product experience created the moat.

The difference now is (hopefully) we can incentivize people to create, maintain, and upgrade the underlying open protocols

Product @ CB, wants to move to woods but likes city too much

web3 moats are likely ecosystems of decentralised agents building on top+around a shared protocol (versus web2 central market maker)

scarce resource = devs; dev working in one ecosystem can't work in others

those with most vibrant developer communities win

if moats, they'll be collectively owned — not by one lord