Stablecoin Market - Tether (USDT) 在 Solana 链上的供应量首次超过 20 亿美元 [1] - 行业正在重塑，USDT 等具有明确效用和强大网络效应的资产具有实际价值，每个新参与者都会增加整体价值 [1] - 其他稳定币发行商正在寻求类似的效用，旨在挑战 USDT 的地位，其背后的策略将变得越来越有趣 [1]

Hey Lyn, does $100m count as good network effects and SoV moat? Asking for a fren. ...

L2 Adoption & Network Effects - Companies like Coinbase, Sony, Alibaba, Deutsche Bank, Robinhood & OpenAI have leveraged Layer 2 solutions (L2s) to create powerful network effects [1] - Setting up an L2 is crucial for benefiting from these network effects [1] - There is a high probability that the mentioned companies will establish their own L2s [1] L2 Benefits - L2s offer benefits beyond network effects, including settling on ETH L1, high customizability, and an attractive business model [1] - Base is generating approximately $80 million in annual revenue, indicating the potential of the L2 business model [1] ETH L1 Role - ETH L1 is positioned as the base layer of trust for the onchain economy [2]