The L1 premium is disappearing.

The Fat Protocol to Fat App transition has been underway for a while but the market is now starting to price it in.

Appetite for undifferentiated infrastructure is decreasing and investor expectations have shifted.

Chains are under more pressure to demonstrate real recurring revenue.

Stablecoins could be an avenue for this. Over $30B of USDC and USDT sits across alt L1s and L2s, generating north of $1B annually for Circle and Tether.

The ecosystems actually driving that demand collectively earn around $800M in fees.

Many chains have recognized this and are moving to internalize stablecoin economics rather than subsidize issuers.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。