The Modular Thesis ($)
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 😡 Warren calls foul. As McHenry and Waters near finalizing stablecoin legislation, crypto hawk Warren sent a letter to her colleagues arguing that enshrining stables would pose a financial risk to the U.S.
- 💰 Monad’s big raise. Monad Labs, the team behind the new L1 chain aiming to compete with Ethereum and Solana, just announced a new $225M funding round led by Paradigm.
- ⏳️ Another SEC delay. The SEC announced a 45-day delay regarding its decision on whether or not to allow NYSE to offer options on spot Bitcoin ETFs.
📊 TONs of Utility? Toncoin (TON) has continued to layer on gains this month, establishing itself as one of crypto’s top 10 coins by market capitalization after surging 50% off its April lows to obliterate prior all-time highs! What catalysts are driving TON outperformance?
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.60T | ↘ 3.6% | ↗ 4.8% |
|
BTC $69,398 | ↘ 3.2% | ↗ 5.6% |
|
ETH $3,519 | ↘ 5.0% | ↗ 7.3% |
Modular Blockchains are already shaping up to be the biggest zero-to-one innovation in crypto since Ethereum.
With dozens of tokenless protocols preparing to launch on mainnet this year and the modular narrative seeping through all cracks of crypto media, I believe we are at the cusp of an expansion similar to what took place after the inception of smart contracts.
To start, let’s answer a seemingly simple question: What is a Modular Blockchain?👇
Mass adoption of token-governed technologies. With Mantle Network – an Ethereum rollup, Mantle Treasury, and a token holder governed roadmap for products and initiatives.
Frax is a decentralized central bank on Ethereum. Today, Frax is entering its 3rd dimension of development… building out Fraxtal, a Frax-dedicated L2, fulfilling the vision that every successful app will eventually evolve into a chain.
It's been two years since we had Sam on last. We figured this launch would be a good time to re-open the Frax discussion, as they are once again pioneering their own frontier of app-specific L3s.
Get the full rundown 👇