In this episode, Kyle Samani of Multicoin Capital discusses his integrated blockchain thesis, challenging popular narratives around modular blockchain design. He delves into the nature of blockchains as financial systems, the importance of MEV in value capture, and the potential for near-zero transaction costs. Samani also explores the trade-offs between integrated and modular approaches, the future of AppChains, and the questionable role of blockchain beyond finance. Enjoy!

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Although our guest this week is a Managing Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin’s investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.

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Join us at Permissionless III Oct 9-11. Use code: EXPANSION10 for a 10% discount: https://blockworks.co/event/permissionless-iii

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Timestamps:

(00:00) Introduction

(01:48) The Integrated Thesis

(10:26) Permissionless III Ad

(17:53) Purpose of Blockchains

(19:12) ZK Based AI

(25:18) Limits of Solana

(36:42) Trade Offs of Modular Stack

(43:05) Monetization in Modular System

(56:07) App Chain Thesis

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Disclaimer

Expansion was kickstarted by a grant from the Celestia Foundation.

Nothing said on Expansion is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.