@ankit
"New L1s succeed by exploiting the dogma of incumbents. Ethereum succeeded by exploiting Bitcoin's resistance to programmability. Solana succeeded by exploiting Ethereum's devotion to home stakers. Hyperliquid is succeeding by exploiting Solana's unwillingness to specialize their protocol.The reality is that all great L1s are born as cults."
https://www.paradigm.xyz/2025/06/the-l1-dilemma
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