Market Overview - The industry suggests that no alternative Layer 1 (L1) blockchain has performed well enough to justify over 1 billion USD committed to it [1] - The industry expresses skepticism towards alternative L1 blockchains, viewing them as generally inferior [1] Project Assessment - Monad is identified as an L1 blockchain project [1] - Based on the assessment, the industry believes that Monad should not have over 1 billion USD committed to it [1]

Layer-1 (L1) Blockchain Platforms - 行业关注哪个 Layer-1 区块链平台即将迎来爆发时刻 [1]

Key Players in the Crypto Space - Ethereum leads with approximately $330 billion in user assets [1] - TRON follows with around $82 billion in user assets [1] - Solana holds approximately $34 billion in user assets [1] Market Share - Ethereum hosts a significantly larger share of user assets compared to TRON and Solana [1] - Only three platforms host over $30 billion in user assets [1]

Market Trends - The proliferation of Layer 1 (L1) chains, including corporate, AI, and DePIN L1s, will lead to the disappearance of the L1 premium [1] - Launching generic Layer 2 (L2) solutions is becoming similar to the trend observed in 2023 [1] Strategy & Development - The focus is on building the fastest chain possible through extreme node specializations [2] - The strategy is to avoid the L1 versus L2 debate and pursue a different approach [2]

L2 Construction & Strategy - The optimal approach to building an L2 involves maximizing the utilization of the L1's inherent features, such as security, censorship resistance, proofs, and data availability [1] - L2 logic should be streamlined to focus on sequencing and proving, or solely proving if based [1] - Ethereum L2s enable trust minimization and efficiency, which enterprise blockchains sought in the 2010s but couldn't achieve [2] Industry Trends & Predictions - There is a prediction that most alt-L1s will transition into L2s [2] - Celo's integration into Ethereum's ecosystem, including carbon initiatives, inflation reduction from 2% to 1%, block time reduction from 5s to 1s, and legacy code elimination, serves as a playbook for this transition [2]

L1区块链生态系统 - Fundstrat 强调了 L1 区块链上的新稳定币发行 [1] - L1 区块链的新质押者涌入 [1] - 对 ETH（用于质押）的新需求 [1]