although stables are arguably a tail-wind in the short term, the biggest medium term threat to eth is not steth dominance but usd[c/t/stripe] dominance
steth can help eth win
don’t see how you can be long term bullish eth without believing that eth will compete with btc (and stables to a certain extent)
and for that to happen i think you need to support and leverage folks like lido (the biggest long term eth bulls i know) who really see this clearly and care deeply about integrating eth the asset across all of defi and the internet in a way that makes sense for both users and ethereum
lido's founding culture/philosophy is a rare blend of idealism and pragmatism that is v much complementary to the rest of ethereum; if i were still working at or running the EF i would personally be doing everything i could to listen to them support them
i'll happily take the other side of tom lee here: the biggest risk to eth becoming a long term multi trillion dollar asset is stablecoin defi dominance
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