📍The L2 pattern of hundreds of lines may come to an end in the competition of chain abstraction

➢This year in the field of infrastructure, there are several trends that I pay attention to: Rollup's multi-chain trend, application chain, RaaS, intention and chain abstraction

The latter two are the two most important directions for application development, and they are also two tracks that cooperate with each other

Chain abstraction has achieved a growth of 673% this year. There are actually many relatively famous protocols on the market

For example, one of the protocols in the figure below is not online, and the other is online🔻

Others are not classified by information websites, because the definition of this area may be vague in the project itself

Chain abstraction changes the original on-chain interaction habits, making an application more likely to be accepted by users with traditional Internet habits

In addition, there are so many multi-chain protocols that have come out before, and they themselves have the motivation to smoothly provide chain abstraction modules

But correspondingly, the chain abstraction track will also face the problem of multi-protocol competition, but fortunately, this game It will not cause liquidity split problems like Rollup🔺

Because they basically aggregate liquidity, the final competition is the comprehensive strength of products and markets. I think this is the positive competition in infrastructure, and the destructive impact on the industry itself will not be so great

This cycle is likely to be the last round of infrastructure battles, because although the Ethereum system has been working on the "wheel" before, the corresponding infrastructure has indeed provided the market with a ready-made reference

No work is done in vain

However, from the perspective of the secondary market, there is another problem at present, that is, investors in the secondary market are a little afraid of large financing agreements, including myself. Even if you have clear products and good enough operating data at the moment, you will still be widely criticized

Because the current valuation system of the industry is very vague, most VCs also vote with their feet based on operating data, and the secondary market is more likely to be deceived by some false prosperity data

Just yesterday #Binance announced the pre-market trading announcement. After reading it, I think it is a move that may solve this dilemma. I will publish my interpretation tomorrow.

Stay tuned🙌🏻