Disclosure: Delphi Ventures and members of our team have ETH, RUNE and LUNA positions. This statement is intended to disclose any perceived conflict of interest and should not be misconstrued as a recommendation to purchase ETH, RUNE or LUNA. This is not investment advice.
Demand for using Ethereum has never been higher. Anyone whose paid gas recently is well aware of that. While our team is certainly invested in the Ethereum ecosystem, both from a capital and philosophical standpoint, it would be unwise for us not to consider the potentially negative second-order effects of the current high gas environment. Namely, it’s become incredibly expensive for small traders and newcomers to start using it. Just this morning, I was helping friends get set up so they could start experimenting with DeFi for the first time. I found myself referring them to cheaper, centralized alternatives simply because of transaction costs. I’m sure others have had similar conversations as well.