Nov 7, 2022
✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/debrief-unichain-is-inevitable
Dan Elitzer is the co-founder of Nascent, a VC firm working on the frontier of crypto Previously, he was previously leading IDEO CoLab Ventures, and has been on the frontier of crypto innovations for as long as we can remember.
Dan helps us unpack The AppChain Thesis, a possible outcome where every big DeFi app is going to have its own chain. How will this reshape crypto? Where do we find opportunities? Does this thesis even make sense?
Further, Dan, Ryan, and David cover the case for why Uniswap is going to have its own chain, why Dan thinks there’s an inevitable economic incentive for large DeFi apps to start their own chains, the main objections to The AppChain Thesis, and so much more.
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Topics Covered
0:00 Intro
6:45 Dan's Predictive Track Record
9:52 Roll-Apps
14:00 The App Chain Prediction
17:46 UNIChain
23:30 MEV
29:22 Summarizing the Costs
33:50 Who Gets the Money?
36:07 Are the Taxes Worth the Services?
43:48 Why DeFi Apps Haven't Launched App Chains Yet
48:40 Uniswap Nation State
55:33 Uniswap's App Chain Model Sovereignty
1:00:04 Uniswap's Control & Ethereum's Alignment
1:03:38 Uniswap's Composability
1:08:56 What Does This Mean For L1s
1:16:50 Investing in the Apps?
1:20:57 Aggregation Theory
1:23:22 Censorship
1:27:21 Final Takes
1:29:37 Closing & Disclaimers
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Resources:
Dan Elitzer
https://twitter.com/delitzer
The inevitably of Unichain
https://medium.com/nascent-xyz/the-inevitability-of-unichain-bc600c92c5c4
Aggregation Theory - Stratechery
https://stratechery.com/aggregation-theory/
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