This episode of Bell Curve explores the art of valuing L1 ecosystems. Should you look a protocols transaction fees vs inflation, # of developers, applications built on top or something else?
We then discuss SBF's arrest, Sushi's fee proposal, the fixed token supply debate, 2023's outlook and more! My favorite segment? The fixed token supply debate - this is about to be a widely contested topic.
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Timestamps:
(00:00) Introduction
(03:33) Solana’s Outlook and Valuing L1s
(13:39) SBF Arrested and Alameda’s Degen Gambling
(30:15) Drama at The Block
(31:56) "Avalanche Ad"
(33:09) Drama at The Block
(36:29) Sushi’s Fee Proposal & Fixed Token Supply Debate
(46:43) Dividends and Buybacks
(56:02) 2023 Outlook
(1:03:55) A Gold and Bitcoin Thesis
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Resources:
Vance's Tweet thread on the broken alt L1 thesis
https://twitter.com/pythianism/status/1600895603512180737
Sushi's protocol fee proposal
https://forum.sushi.com/t/reinstated-increase-kanpai-treasury-allocation-to-100/11475
Felix Zulauf
Jurrien Timmer tweet on BTC and Gold
https://twitter.com/timmerfidelity/status/1559997086912942080?lang=en
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.