Anyone with $5,000 or less is paying >1% of their portfolio in fees to use DeFi. It’s getting too expensive to live in Manhattan. And I don’t expect Manhattan to suddenly get cheaper—in fact, I expect mainnet transactions to continue increasing in economic density (e.g. higher cost + higher value transactions). But right now this situation is pricing out users and sending them to more centralized ecosystems. I don’t blame them—no one should have to pay a material amount of their portfolio to ...
