The most overlooked part of crypto today is interop. Maybe that is a good thing? It could mean that the "coordination layer" is working and falling to the background so applications like can simply trade assets on pump swap no matter what chain they are native too. It could also be changing and becoming less overlooked, I've mentioned some of these before but these themes are only increasing in relevance... - L2 fragmentation continues to be a major issue for the EF - New L1's are still coming online (see below) - Some older L1's want to capture more value so are building appchain frameworks like cosmos and polkadot - RaaS providers are building businesses based on "chains as a service". New L1 theme is seeing asset issuers launch their own chains or chains they are closely aligned with. - Ethena/Securitize --> Converge - Tether --> Plasma - Ondo --> Ondo Chain - Robinhood --> Robinhood Chain There will likely be many more within the next 3 months, I personally know of 3 high profile ones as a ref point. - - - - More chains doesn’t equal more usability. Without interoperability, liquidity is fragmented, user experience suffers, and developer overhead increases. We just saw this with tokenized stocks: $aTSLA, $bTSLA, $cTSLA.. which one do you buy? SWIFT processes between $5-7 TRILLION/day by offering one thing: reliable, standardized interoperability. This is the opportunity size for interop protocols. Interoperability isn't new. We've simply solved an age old problem for systems and have applied it to blockchains. If crypto is serious about building a parallel financial system, we need shared, neutral infrastructure that connects assets, apps, and users across environments. Interop is the dark horse.