UPDATE: SOLETH is down 43% over the last 6 months

this Ethereum is magical and most people here are just jaded and TradFi will very, very quickly understand the value of programmable collateral which is decentralized and non-custodial they buy ETH today because they think it’s a decentralized tech play but they’ll hold ETH forever because it’s censorship-resistant, programmable money ditch your priors. Wall Street doesn’t care about your PTSD or how you got rugged in the trenches this is a brand new ballgame

One thing I’ve learned about endowments is that they all copytrade each other. And when they buy they don’t ever sell. It’s some of the most durable capital that exists.

This timeline is getting crazy.

This has been core to our thesis: you can either focus on being the best rails or the best brand / front end. Do the latter and you are competing with heavyweights like @coinbase and @RobinhoodApp. Do the former and you are their essential rails. Seemed obvious. 🛫

Coinbase is now giving millions of users easy access to DEX pairs. Aggregators will be routing trades based on liquidity, and Aerodrome has the thickest liquidity for most relevant assets on Base. Uniswap has built a great brand and frontend, but it won’t matter here.

Those of you trying to value $ETH w fundamentals and justify this PA rn w crypto native baggage are underestimating the magic you felt when Ethereum and smart contract platforms first clicked for you. Wall street hedge funds never truly had to rationalize crypto as an asset class. The 2020/2021 run happened in a flash and it was a fun distraction, now they have to actually do some work. Their talking points around $ETH are elementary because they are literally figuring out wtf it is now. Seeing these CNBC clips actually just reminds me of when I first read the ethereum whitepaper and watched some vitalik interviews and decided $ETH was digital oil / programmable money / the internet of finance. We’re all too jaded and cynical at this point to remember it, but do not fade that beautiful feeling of discovering groundbreaking blockchain tech for the first time. It’s happening right now for the richest institutions in the world. The last thing they’re thinking about is cash flows.

An overlooked aspect of this is that Aerodrome ends up with the majority of the volume and liquidity of new projects that launch a token on Base. KEETA, PROMPT, VVV, B3, MAMO, and KAITO all have around 70% of their volume coming from Aerodrome today. The only outlier is ZORA, and that's because of the pairing of new Zora coins with ZORA itself on Doppler (Uniswap V4 hook for bonding curves). If you believe more projects are willing to launch on Base due to Coinbase's integration, Aerodrome is probably undervalued compared to other ICM plays out there.

The ticker is $ETH

Maybe my prediction of @base being #1 by end of year was too conservative? Moving up fast. 🛫