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).

https://messari.io/report/analyst-notes-cracks-in-the-fat-protocol-theory?referrer=grid-view?utm_source=twitter_messaricrypto&utm_medium=organic_social&utm_campaign=article_organic

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

** **

Disclaimer: The author is not affiliated with any of the entities above. The author does not endorse any of the views presented in these articles. This document is not an offer, nor the solicitation of an offer, to buy or sell any of the assets mentioned herein. The views expressed in this post are not, and should not be construed as investment advice or recommendations. This post is intended for informational purposes only.

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).

https://messari.io/report/analyst-notes-cracks-in-the-fat-protocol-theory?referrer=grid-view?utm_source=twitter_messaricrypto&utm_medium=organic_social&utm_campaign=article_organic

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

** **

Disclaimer: The author is not affiliated with any of the entities above. The author does not endorse any of the views presented in these articles. This document is not an offer, nor the solicitation of an offer, to buy or sell any of the assets mentioned herein. The views expressed in this post are not, and should not be construed as investment advice or recommendations. This post is intended for informational purposes only.