One thing I learned today:

One of the decentralized social apps, FARCASTER, created a Layer-3 blockchain using Arbitrum Orbit, a custom blockchain, that settles on Base’s Layer-2.

Why is this significant? In my opinion, in the short term this will face head winds as it will be flooded with meme coins and literal spam. Much of what will be built on there will just be random jargon for (no pun intended) crypto DEGENS.

However, I think what we’re missing here is the revolutionary ability for platforms to monetize and incentivize activity within their ecosystem. For example, right now you have different channels and algorithms on tik tok. You see a certain side of tik tok based on what you interact with. You get sold products, see influencers, etc. However, all that monetization and money goes through tik tok or whatever social platform you may use. Their business model is based off the advertising and DAU and COGS.

But now, by creating an app chain you create a whole new business model for applications. How so? When users transact they pay a fee. Fees are designed to pay for the data being added to Ethereum and then the gross margin being returned back to its holders.

Here is an income statement of the Arbitrum blockchain as an example. This blockchain is where industries can build on. But the DEGEN Layer-3 is where e-commerce brands can sell their product and monetize their reward points. It is an ecosystem centered around a the Farcaster social media outlet.

The gross margin for an L3 could actually get even more lucrative. I feel like I need to revisit how to explain this, but I’m extremely excite to see this business model grow.

Affirmations:

I will run the NYC marathon under 4:00:00 and exceed my fundraising goal

I will grow my blog by 10% every month using web3 tools

Gratitude:

Grateful for summer being around the corner

Miracle Morning:

Read: no

Workout: yes (run and abs)

make my bed: yes

meditate: no

affirmations: yes

gratitude: yes