@hakill

There are three structural trends that are increasingly 'weakening' the protocol layer: 1) Multi-chain applications and chain abstraction: applications will no longer be constrained by the network effects of a single chain; instead, chains will be increasingly constrained by the distribution of front-ends. 2) Maturation of the MEV supply chain: as the MEV supply chain continues to mature, value will be increasingly aggregated into the MEV supply chain and asymmetrically accumulated to those with access to the most exclusive user order flows. 3) Moving towards an agent paradigm: transaction costs and mobility will further 'weaken' the protocol layer as protocols are forced to compress costs and incentivize mobility to remain competitive. who have access to the most exclusive user order flows.3) Towards an agent paradigm: transaction costs and liquidity will further 'weaken' the protocol layer as protocols are forced to compress costs and incentivize liquidity to remain competitive.

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