EthCC #2 | Kain Warwick - "The Crypto Fees Boom"
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 29 July 2022
⏱️ 28 minutes
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Summary
🇫🇷 Welcome to the Bankless EthCC 2022 Experience 🇫🇷
With fantastic guests from all corners of the ecosystem, this 8-part series is an exploration of crypto culture and the current state of Ethereum.
With Episode 2, Kain Warwick from Synthetix joins us to frame the next bull market. Pockets of DeFi are heating up, the Layer 2 narrative has room to breathe, and electricity (hopefully not COVID) is in the air.
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Topics Covered:
0:00 Intro
3:30 Kain Warwick
5:20 EthCC 2022
8:05 Alt Layer 1s
13:00 Layer 2 Vibes
16:00 The Fees Boom
18:27 Kain vs Su Zhu
21:17 Bull Market Goggles
23:14 Setting up the Next Bull
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Resources:
Kain on Twitter:
https://twitter.com/kaiynne
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Transcript
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| 0:00.0 | Welcome back, Bankless Nation, to the ETH CC experience. |
| 0:05.5 | I hope you enjoyed that conversation with Fatalic. |
| 0:08.4 | Talking with Fatalic in real life. |
| 0:09.4 | It's always a treat. |
| 0:10.4 | It's always a treat. |
| 0:11.4 | Coming up next, we got Kane Warwick, and Kane, he's always just so articulate and so |
| 0:15.5 | clear-headed. |
| 0:16.5 | And I already teased the part where we talk about his tussle over crypto twitter with |
| 0:20.6 | Susu, obviously that's part of the show, but Kane gave me this very fantastic presentation |
| 0:25.5 | of his idea for how bull markets progress. |
| 0:28.8 | With this idea of a scoreboard, where first we had the scoreboard of the ICO mania, like |
| 0:32.6 | how many millions of dollars can your ICO raise, then the next mania was the DeFi summer |
| 0:36.9 | mania, and that metric, that scoreboard was how much TVL can you get deposited in your |
| 0:41.5 | contracts. |
| 0:42.5 | And he makes a claim that the next coming bull market is going to be a bull market in fees. |
| 0:47.0 | How much fees can your protocol earn? |
| 0:50.1 | And we are currently witnessing, perhaps, the beginning stages of a fee revolution going |
| 0:54.4 | in the Applayer on Ethereum, you to swap, generating more fees than the Ethereum protocol |
| 0:58.3 | itself, which is insane, synthetics not too far along. |
| 1:01.5 | And this definitely fits within the bankruptcy vision of fees are fundamentals. |
| 1:05.7 | And in order to have a fundamental alternative financial system, it needs to have fees, because |
| 1:10.1 | that's how companies, protocols, tokens, operate, is they generate and capture economic |
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