MEGATOM Σ:

WHY THE LOCK? I'm well aware that market conditions are shaky, and those who got in 20k-50k UNLOCKED bids are looking good to see between a 3x-10x on TGE by flipping this into a pump. Those who took the lock are going to have to stand back at TGE as observers and cheer for others nailing the ball into the basket here. But I'm ok with that. Sometimes, the best wins actually do come from holding on to an early gem. It seems rare in crypto where you are mostly rewarded for trading and dumping your bags. They say never marry your bags. But if you find and marry the right one, the perfect one, it can be a better singular trade than a stream of short-term bag partners. Is MegaETH that one? I don't know, but I'm going to find out. I really do have conviction that MegaETH can bring a new paradigm of infra that can unlock the kind of applications that have not yet been possible on blockchain. What's the value of infra that can do this? It's some of the most interesting blockchain tech I've seen, and I am getting the same tingles I had when I looked at Solana and Avalanche back when I invested in the private sale rounds in 2018. Yes I know Layer 2s are not valued the same as Layer 1s, but MegaETH is more akin to a Layer 1 and I believe is going to be valued as such. The power of real-time blockchain opens a slew of applications that were not possible before on ANY chain. It's been the choice for applications between: speed and UX vs decentralization & security Things have improved over the years, but fundamentally, it's still a tradeoff we do see. And despite improvements made, we are still quite a ways away from bridging the gap between web2 speeds and web3 speeds. But MegaETH has a chance to break this by allowing both speed AND decentralization with no tradeoffs here. This has been the dream of all builders. Building web3 with near web2 speeds. And yes, I think decentralization matters and is going to continually matter more and more going forward. A look at the recent 'privacy' meta indicates the market still assigns weight to some of the old fundamentals of the crypto ethos (self-sovereignty, privacy, and decentralization). TOKEN FLYWHEEL I'm also excited to see the MEGA token has some real utility in the ecosystem with multiple vectors of unique value accrual that we have not yet seen on other L2s (and L1s): -mUSD -sequencer bidding -colocation markets None of that 'governance' bullshit, which brings zero value accrual to a token economy. Here the MEGA token actually does something, and staking that token in the ecosystem has real-world monetary benefits for stakers, and thus real demand. It will take scale to unlock this, but it's pretty exciting to see the blueprint of this. I like this flywheel: ecosystem grows, demand for token grows. TECH MATTERS BUT BIZ DEV MATTERS MORE Just 'Tech' alone is not enough. It's easy to over-optimize on pure tech while neglecting the importance of onboarding users to use that tech. If you can't do that, then all you have built is a Disneyland, full of pretty buildings, visited by one-time tourists, but ultimately it's just a themepark where no one really lives. It's how to apply tech in a way that is accessible and scales in users that ultimately matters here. And that takes the ability to build a robust ecosystem and onboard applications and users. That takes understanding the market and understanding how to build applications that can grab users. That means being able to onboard the developers to use the tech and build the applications that will get those users. From what I've seen, the MegaETH team might just have that magic. This, more than just the tech alone, is why I want to take a long-term conviction bet on MegaETH and the ecosystem. The market is really going to only care about the end result: will this scale users into web3. And if MegaETH is the bridge that opens this lock, it's going to be a very valuable bridge indeed.