1/ Nation-states are valued differently from corporations.

22 Dec 2023, 14:34

1/ Nation-states are valued differently from corporations Many @ethereum protocols like @dYdX , @vertex_protocol , and @CurveFinance do @solana level revenue with 1/50 to 1/1000x of the market cap. Why don’t the fundamentals line up? A thesis on why L1s have a premium: