According to @alice_und_bob, L1 token value accrual is driven primarily by their use as direct or indirect collateral rather than by L2-to-L1 fee flows, because blockspace pricing becomes a race to the bottom as L1s scale and capacity turns abundant (source: @alice_und_bob on X, Dec 8, 2025, https://twitter.com/alice_und_bob/status/1998090662168727989). The post outlines an endgame where L1s mint algorithmic stablecoins and other synthetic assets to anchor basic economic activity, then use those stables to collateralize RWAs, spot and money market liquidity, prediction markets, and oracles, creating systemwide collateral demand for the L1 token (source: @alice_und_bob on X, Dec 8, 2025, https://twitter.com/alice_und_bob/status/1998090662168727989). For trading, this framework prioritizes L1 ecosystems building native stables and RWA collateral rails over narratives focused on L2 fee kickbacks to L1s when assessing sustainable token demand and value capture (source: @alice_und_bob on X, Dec 8, 2025, https://twitter.com/alice_und_bob/status/1998090662168727989).

According to @gensynai, Delphi will shift from test tokens to real economic value as mainnet approaches, using game-theoretic incentives to secure execution and verification so all market participants have true skin in the game. source: @gensynai; Gensyn blog For traders, this confirms that economic incentives will directly govern network behavior at mainnet, making the incentive and verification parameters key variables to monitor for participation risk and potential returns once disclosed by the project. source: @gensynai; Gensyn blog

According to the source, a trading-oriented summary cannot be produced without a verifiable primary source confirming the details behind embedding Myriad as a protocol. Please provide an official announcement, team blog, GitHub repository, whitepaper, or a direct statement from the project or company so we can validate timelines, technical scope, token implications, and partnership details for actionable trading analysis.

According to @adriannewman21 on X on Oct 6, 2025, users on his timeline label Punk Strategy as a fractionalized NFT protocol (source: @adriannewman21, X, Oct 6, 2025). @adriannewman21 adds that NFT participants are 1) less educated on token economics and mechanisms, 2) more pessimistic toward ponzi-like mechanisms, and 3) sidelined on $PNKSTR, leading to low willingness to research the project (source: @adriannewman21, X, Oct 6, 2025). For traders, this post highlights a skeptical NFT Twitter cohort toward $PNKSTR, defining the current sentiment backdrop for narrative-driven positioning and community engagement tracking (source: @adriannewman21, X, Oct 6, 2025).

According to @adriannewman21, Web3 product design should embed DeFi rails and casino-style game loops rather than equating Web3 solely with a token, distinguishing Web3 from the token-centric notion of crypto, source: @adriannewman21 on X, Sep 12, 2025. According to @adriannewman21, DeFi is the decentralized value transfer layer, casino mechanics capture human behavior to induce transactions, and the token aligns incentives, forming a practical three-layer model to evaluate protocols, source: @adriannewman21 on X, Sep 12, 2025. According to @adriannewman21, traders can apply this framework by categorizing protocols into value transfer, transaction induction, and incentive alignment layers when forming token theses and monitoring on-chain traction, source: @adriannewman21 on X, Sep 12, 2025.

According to the article's author, blockchain valuation models remain unstandardized and controversial, similar to early internet challenges. Traditional methods like discounted cash flow (DCF) are inadequate for public infrastructure like blockchains, as they miss key aspects such as token emissions and decentralized coordination. A proposed velocity-based framework, focusing on asset movement metrics like stablecoin turnover and DeFi lending, could provide traders with better tools for assessing cryptocurrency investments and market dynamics.