Interesting throwback by @ahboyash:
• FHE → @zama_fhe $57M
• Restaking → @Karak_Network $48M | @symbioticfi $5.8M
• zk-coprocessors → @RiscZero $40M
• RaaS → @Calderaxyz $15M
• Shared sequencers → @EspressoSys $28M | @AstriaOrg $5.5M
• Sovereign rollups → Sovereign Labs $7.4M
• Intents → @anoma $25M
No one mentions all these projects in the current cycle, probably because we all come to the realization that in the next phase product-market fit is far more important than before, as altcoin market can no longer support ultra-high valuation of projects without good fundamentals. We don't need academic projects in the space, but projects building things that have real TAM! @HyperliquidX has set out a good example. When people in the space start talking about revenue and buyback way more than before, you know the market is maturing.
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