1. Protocol development is key metric #1, but non-L1 dapp tokens are mostly garbage regardless of chain. Buy them or get them airdropped, dump them in the initial excitement. DeFi tokens with quantifiable real revenues may be the exception.
Agreed. dapp tokenomics are difficult to make work in a sustainable way for most protocols. SOL eco tokenomics are just particularly VC friendly on average. AVAX certainly not exempt from some criticism too.
Really the most interesting dapps are being built on ETH and its L2s IMO.
2. EVM chains all have the same problems built in: gas uncertainty and the ability for rugpulls/exploits amplified by flash loans.
Definitely not a perfect system.
3. LUNA's rise isn't because it's associated with ATOM. LUNA has a much better following than ATOM does. LUNA's rise is because of UST's spread in DeFi use.
Was not suggesting that was why it's a top tier network today. It's a legit L1.
ATOM/IBC narrative is going to be significant moving forward. Look at the recent relative strength in its eco's tokens, and the respect its getting from ETH people. When people make the connection that LUNA's the biggest IBC chain... I expect it outperforms.
From what I've seen they have a strong dapp ecosystem. Any you're keeping an eye on?
4. SOL's finality is a fraction of most other chains, Lifeonmars, I don't know what you're talking about. I know ETH/EVM maximalists love to FUD on SOL like BTC maxxies used to FUD on ETH, but again, in my experience of daily use of all these chains for months to years, SOL is head and shoulders above the rest, with LUNA second - even with the network problems. We'll see if ROSE can get any real development or work at scale, because the transactions I sent through that were shockingly instant.
I appreciate that SOL is taking a different approach to the ETH gas fee problems. I think the criticism of its functionality over the course of this correction is fair. A lot of people got forced into liquidation and a few people likely made out bigly DDOSing the network. Will be interesting to see how it approaches that problem moving forward.
It holds a rightful place near the top of the market cap rankings, but it's upside is limited compared to some other L1s and upcoming defi narratives I think.