Fat application or fat protocol thesis refers to the blockchain layer that captures the bulk of the value. Here, I list some of the good reads. If I missed something please let me know, I will add it as well (@ekoverse)
One of the first mentions of the fat protocol in Web3 (@jmonegro, 2016).
https://www.usv.com/writing/2016/08/fat-protocols/
Breaks down the transition from fat protocols to thin protocols over time(@jnakano89, 2018)
https://medium.com/coinmonks/fat-protocol-and-value-capture-over-time-part-1-of-2-51c7e7d0ca34
Here is a follow-up (@jmonegro, 2020).
https://www.placeholder.vc/blog/2020/1/30/thin-applications
The next one nicely poses the question of value capture and beautifully explains how the fat protocol thesis will be falsified in modular blockchains. He has many other worth-reading articles (@momir_amidzic, 2022).
https://medium.com/@amidzic.momir/the-end-game-fat-applications-thesis-5c2f8b30c8c3
Messari on fat application thesis “…Google and Facebook became worth trillions, while protocols like TCP/IP accrued little to no value…” (@Old_Samster, @kelxyz_, @messaricrypto, 2022).
Section 7.9 “Fat application thesis” (@messaricrypto, 2022).
https://messari.transistor.fm/episodes
One of the earlier writings about the fat application thesis comparing it with Web2 stack(@hhe08, 2019).
https://venturebeat.com/business/blockchain-in-2019-will-be-all-about-the-middle-layer-protocol/
If the protocol is not fat, does that mean Ether captures no value? Read this report (@grayscale, @PhilJBonello) valuing Ether as money, as store of value, as a commodity, as a yield-bearing asset.
https://grayscale.com/learn/valuing-ethereum/
Sassal commenting on Hasu’s fat application thesis tweets
@apolynya on @BanklessHQ discussing different layer of the Web3 stack and value capture.
https://open.spotify.com/episode/4h1MRLcREy57PKTqNmwac8?si=6y7yn_7rT8uQQJf5YtqM3Q
Below are some tweets by @apolynya, @hasufl, and @messaricrypto, and various other people.
https://twitter.com/apolynya/status/1545630119930212354m
https://twitter.com/MessariCrypto/status/1553908389394075648
https://twitter.com/apolynya/status/1475719519603609601
https://twitter.com/apolynya/status/1475719526922604545
https://twitter.com/hasufl/status/1531222655508029441
https://twitter.com/hasufl/status/1531204918304022528
https://twitter.com/MessariCrypto/status/1562807787696300032
https://twitter.com/usdcbull1/status/1564268975051210753?s=20&t=DaWGSPOFIY335rfwUjrCnQ
https://twitter.com/tlagomi/status/1564329522924662784?s=20&t=DaWGSPOFIY335rfwUjrCnQ
https://twitter.com/0xdoug/status/1564112033213165569?s=20&t=DaWGSPOFIY335rfwUjrCnQ
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