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Ethena's L1 Shows Fat Apps Are on the Rise. Can They Beat Fat Protocols? - Ep. 804
45:35
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2025/3/21
Unchained
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Intro
Why are apps out-earning the blockchains they run on?
Ethena’s move: why is it launching its own chain?
The rise of “Fat Apps” and what it means for crypto
How do today’s crypto founders think differently from past builders?
The blockchain architectures that will dominate
Can L1s compete in this new environment?
How do blockchains accrue value and why isn’t MEV the best metric?
News Recap
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