okay let me give u a controversial perspective about stripe and circle L1: what does Circle and Stripe have except for distribution of Stripe vendors and Circle users? do they really need a new L1? past few years, L1 would mean: -> bringing a different innovation (PoL for beras, zksharding, privacy etc) -> building a community (stripe and circle have distribution tho) -> giving grants to builders, sponsoring hackathons -> onboarding founders, devs etc to build on the chain -> figuring out airdrop/tokenmics -> dealing with fudd. PROBLEM here is that Stripe and Circle L1s are mostly gonna be payment rails focused. this is literally why Ethereum, bitcoin and (debatable) solana was built for. these payment rails can literally be turned into dapps on Ethereum or Solana (again debatable). given so much infra upgrade that Ethereum has seen, we should have made these dapps for payments and not a new L1. they are creating L1s because they want more control and brand alignment towards "blockchain" and not crypto/ethereum/btc. this is actually not a bullish case for crypto.