In this week's roundup Mike and Myles dive deep into the dichotomy emerging between Ethereum the protocol and Ethereum the Asset. As Ethereum pushes activity to rollups and prioritizes exporting ETH's value, tough questions arise around stake rates, liquid staking derivatives, and monetary policy. Should Ethereum target a lower stake rate to favor liquid ETH? What are the risks of validator centralization? How should app tokens accrue value in a multi-chain future? Hear all of this and much more!

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Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

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Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks.

Use the link below to learn more, and use BELL10 to get 10% off your ticket! Sign up now because the price goes up every month. See you there!

https://blockworks.co/event/digital-asset-summit-2024-london/home

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Timestamps

(0:00) Introduction

(5:01) Ethereum Protocol vs Asset

(14:01) Eth the Currency

(28:09) Wormhole Ad

(28:44) Ethereum the Protocol Focus

(31:20) Seeking Productive Assets

(38:32) What should Eth Prioritize?

(46:14) What Happens to other Tokens?

(55:51) Time Horizon of Tokens as Equity

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Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.tt and our guests may hold positions in the companies, funds, or projects discussed.