- most of the value will accrue to a sub-sect of dominant defi applications - most apps on new chains are direct forks offering no differentiation - most new protocols are really just products - an app specific chain future reinforces winner take most thesis agree/disagree?
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I'm a bit sceptical of bridges/appchains but only because it costs me 100x a regular transaction to bridge UST to BSC. I also think there is some level of tribalism within each ecosystem so the ported over competitors may struggle. I.E why would sol eco support sushi over Ray?
some ecos are self aware and know the best way to bootstrap users/liquidity/trust is to leverage trust from already established protocols from other (mostly eth) chains. Hence why Ray is trying to work with Sushi.
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On the other end of the spectrum too, if you're a defi primitive and see another chain starting to gain traction, think it makes sense to try to roll out support early on and "corner" the market. People more likely to go with familiar names over native apps (re: yfi v autofarm)
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Good points, my main counter would be native app developers tend to be heavily principled and slow to adapt, Banteg has been following BSC projects since before me. Hard to fight the token inflation from a new entrant too. I'll be curious how farm does on BSC. v.late entrant
End of conversation
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