Companies buying ETH, Gigagas L1 and more - The Daily Gwei Refuel #841 - Ethereum Updates

Transcript

Hello everyone and welcome to another episode of Delegate Refuel where I cap the latest news in the Ethereum ecosystem. I'm your host the designer and the 8th of July 2025. All right everyone, let's get into it. So an absolute whirlwind amount of news has hit the timeline over the last week or I guess the last time I did the refuel which was on on Friday. So the last few days uh all about ETH as as an asset. I know that obviously the daily guay covers not just ETH the asset but Ethereum the technology and I know that I tend to sometimes focus maybe a bit too much on one or the other but I think when it comes to looking at the broader picture here the Ethereum technology is doing really well and I think I mentioned this last week I don't think there's anything there that I look at

and I'm like okay we need to you know change something there or change something there. I think all in all Ethereum as a technology, as a platform is doing really well, winning where it needs to be, winning uh and servicing, you know, users at both layer 1 and layer 2. But when it comes to ETH as an asset, and I've gone through this before uh many many times about this kind of barbell strategy, and I think I mentioned it on Friday as well, it we we basically uh made the mistake maybe I think as a community of allowing the detractors to set the narrative for us around ETH as an asset. And there's been a lot of discussions around this and one of the biggest things that we did I think uh or biggest mistakes that we had made was allowing this kind of narrative

of uh DCF or or discounted cash flow and revenues and stuff to basically dominate the the conversation. And just to give a TLDD people who may not be aware of this essentially a lot of people wanted to push this narrative that the way to value ETH as an asset is to value it on its revenues. So, the revenues of the Ethereum network, which as I've gone through many times in the past, is I believe a really dumb way to to value L1 commodity assets like ETH and like BTC. And we have plenty of examples of why this uh kind of valuation framework doesn't actually work in practice specifically for L1 assets. And I'm not saying that the L1 shouldn't generate revenues. Ethereum L1 shouldn't generate revenues. Of course, it should, but it's never going to generate enough to

justify a huge ETH market cap. And what I mean by huge is literally tens of trillions of dollars, right? There's never going to be enough revenue to justify that at the L1. And I'm not going to go into all the reasons again for this, but that's my my general stance on on that there. And of course, projects themselves need to be generating revenue as well. Their tokens are essentially equity in the I mean they're pseudo equity. They're not literally equity, but like pseudo equity in the protocol. They're not like an L1 like Ethereum or Bitcoin. They're not an L1, you know, kind of store of value commodity store value assets. very very different assets here. So when I talk about valuing assets based on, you know, store of value, monetary properties, I'm re and and L1 assets specifically, I'm really talking about ETH BTC. Like even

the other L1's out there, I think that those other L1 assets are never going to be able to be a credibly neutral kind of store of value, right? I really think that there is no other asset that is going to achieve what ETH BTC has. But obviously, as we saw, you know, last year, maybe later last year into earlier this year, those detractors that were pushing this narrative had kind of uh they didn't win, but they had kind of like succeeded in pushing that out into the ecosystem. And then we saw what ETH did, right? ETH dropped a lot, dropped down to what was it, 1400, maybe a bit less than that again there. And then since then, uh I think since that bottom, we've seen a massive resurgence in the narrative around ETH as a store of value, as a money. And more and more

people are focusing on this now rather than focusing on the revenues. And I think that as time goes on and as the ETH price goes up that just reinforces the narrative around um you know ETH is a story of value of money and basically gets rid of this narrative that ETH Ethereum the Ethereum network needs to generate massive amounts of revenues in order to justify its valuation uh there. Now, on that note, given all that context that that I just gave there, the reason why I I bring this up again today is because over the past few days, we've had even more news about these new ETH treasury companies. Now, as you guys know, I've talked about some some ones in the past, such as Sharp Link Gaming, which is being kind of spearheaded by Joseph Luben. Tom Lee has his own one that he's launching. Tom Le is very

active in the Tradfi space. Obviously, Joe Luben is Ethereum co-founder. So, two, you know, giants in their own respect, but different sectors of the of the uh the economy there. Um, now there's more than just those two, right? There are other ones out there that I mentioned in the past, but there's even newer ones coming online seemingly every other day now. And the newest one uh that uh was I guess I talked about I think this was today uh was Bit Digital. So, Bit Digital has traditionally been a Bitcoin shop. They were doing I believe Bitcoin mining. They owned a lot of BTC, but as of today, they announced that they have accumulated over a 100,000 ETH and they have traded all of their BTC into ETH and they have raised an additional $172 million to purchase ETH

with. So, this is a huge kind of thing here, guys. Not only because they they bought a lot of ETH and they plan to buy more ETH, but also because they've traded their BTC for ETH. So, not only have they made a bet that ETH is going to do well against USD, they've made a bet that ETH is going to do well against BTC as well, which is harder than doing well against USD, mind you. Like, it's actually much harder to outperform BTC than it is to outperform uh USD uh on the on these assets here for for a number of different reasons. Now, on top of that, they've also said that they uh you know, they raise additional money to purchase more ETH. And I believe I saw a tweet from the founder or the CEO of this company saying that they want to

buy as much ETH as they possibly can. So, we're basically having a a a really big, I guess, kind of gold rush or digital oil rush, right? Uh where all of these companies are coming online and they want to aggressively purchase ETH and as much ETH as they can get. And they're actually having a good time of it right now because ETH has been, you know, stuck at around $2,500. These companies must be laughing. They're like, I can buy hundreds of millions, if not billions of dollars worth of ETH at this price, and obviously they think it's undervalued, otherwise they wouldn't be investing in it. But I really don't think that's going to last very long, guys. Like, it's actually insane to me that ETH is still at 2500 given all of this this news here, giving given how much, you know, uh, buy pressure there has been on ETH here. But

I did explain last week on Friday that a lot of these sales are done OTC. That takes time to kind of filter through the open market and eventually it does hit the open market and you will see price react to it. But at the same time, like I just think, yeah, it just this is insane to me and it makes me FOMO as well because I'm like, well, I don't have the, you know, the spare cash right now to buy uh the ETH that I want. I have to wait until I get more cash and then I can buy ETH. But I'm sitting here being like, okay, well, if I get some cash in a week, what's the ETH price going to be? Is it going to be like 3K in a week? Is it still going to be 2500? So, I think that this FOMO isn't just

being felt by myself. It's being felt by a lot of other retail investors as well. Um, a lot of traders, things like that. But also, it's being felt at the highest levels with these companies that are buying literally hundreds of thousands of ETH, hundred millions of dollars if not billions of dollars of ETH. And this this is incredibly bullish. This is what you want to be seeing when you talk about memeing ETH to be a store of value, right? Because these companies are not buying ETH based on its fear revenue. Like, they're not looking at the Ethereum network and being like, okay, well, the Ethereum network generates, let's say, half a billion dollars of fear revenue a year. uh and you know and um x amount of that is burned and then x amount of that is is go goes to stakers. You know they're not

looking at all of that and being like okay that justifies a multi-t trillion dollar valuation for ETH. No, they're looking at ETH as a pristine programmable store of value as potentially and I believe this will be the case eventually the world's new reserve asset. They're looking at it as a better BTC because they can stake it and get a yield on it or they can use it within the onchain defy economy and generate uh revenue that way because these companies do are generating revenue, right? They're purchasing this ETH, they're putting it to work and they're generating revenue not only off of the ETH that they're putting to work but also uh uh per share. So the way way it works is they're trying to grow their ETH uh per share for because they're publicly traded companies here. So they are trying to generate revenue um and

and that is just translating into more ETH buying power. So obviously incredibly bullish there that we just have another you know big whale here with Bit Digital. Uh but also on this front as well. Sharp link Gaming put out a tweet re I guess like stating their mission statement essentially what they're trying to do here. And the essence of the tweet is that they want to accumulate ETH. They want to stake that ETH and then grow that ETH per share. And they continue. Our goal is not just to hold ETH, but to activate it using native staking, restaking, and Ethereum based yield strategy strategies to increase the value of our treasury and create long-term shareholder value.

So, this is what I was just talking about, right? So, they're all doing this and they're all doing it by kind of reinvesting the profits into ETH. So, the you can imagine or you can look at these companies as just massive growth vehicles uh to to to raise money, to make more money, and to buy more ETH with. So, they're essentially like a big infinite bidder on ETH. And you know, I I I've kind of been bearish in the past about um Sailor doing this with Bitcoin. Not necessarily bearish for price, but bearish for kind of as the asset concentration because Sailor was doing it for so long on his own that he's managed to acquire a huge chunk of the BTC supply. Whereas with ETH, this isn't really going to be the case because we have multiple companies quickly coming online to capture this opportunity here

at a relatively low price point. So, by doing this, we're having, you know, instead of one sailor, we have like 10 sailors, right? Um, and then I know that since you know Sailor has been doing his buying, other other Bitcoin treasury companies have come online, but they've come online uh, you know, over time and and as I said, like Sailor had all this time to do his buys before they came online. Now, there really does seem to be a huge FOMO rush to buy as much ETH as possible before the price just heads to the stratosphere. And I I really, as I said before, I just don't think that the ETH price is going to be uh at this price very long. Like it may feel like an eternity because we're all DJs that are addicted to staring at charts, right? It may feel like ETH's been at

$2,500 forever, but I'm actually looking at a chart right now and it has only been around this kind of price range between I I think you could say like between 2700ish and and and kind of like 2,200ish. So that whole range there, it's only been in that range since the 10th of May. So it's only been 2 months, guys. Um and all this buying and and and all this kind of um stuff has only happened within the last two months. So you're basically what you're doing is you're seeing a a a reorientation around an ETH where you're seeing a lot of players maybe they want to exit their ETH positions. Maybe they don't have the same belief. So they're selling their ETH off but there are buyers there. And it's not just the um you know buying the existing ETH. It's also offsetting ETH that has been issued already. And I put

a tweet uh sorry that has been newly issued. And I put a tweet out about this here where I said that the Ethereum Treasury companies are now buying more ETH than is issued. For example, over the last 30 days, 77,000 new ETH was issued with a net issuance of 57,000 if you include the burn. In that time frame, over 200,000 ETH was bought by Ethereum Treasury companies. And this doesn't include Sharp Link because Sharp Link bought before the 30-day period. Well, they did their big buy before that 30-day period there. So, if you look at that and you you factor in the burn and say net issuance of 57,000, essentially, they've bought almost four times the amount that was issued. This is not true for Bitcoin. Bitcoin as we know issues a lot more uh you know BTC in dollar terms than it does in ETH. And

if you compare it to these treasury companies, even just Sailor alone, they're not buying nearly enough BTC to offset the issuance. Whereas with ETH, it's much easier because ETH already has much lower issuance. And if you if you look at this kind of on whatever time frame you want to look at, uh it's already offset all if you actually look at it since the merge and you just take the net issuance, not the total issuance. take the net issuance from the b from the the merge which includes the burn you get 366,000 ETH newly issued ETH out there. So yeah okay we're not net deflationary with the burn anymore because obviously fees went down but there these treasury companies have bought more than that over the last 2 to 3 months. So they've offset already the additional supply that wasn't offset by the burn since the merge and this is

only the beginning like we're only at the beginning of this like there is going to be so much more buying pressure coming online. So again, the fact that ETH is stuck at at, you know, around the 2500 mark here seems a little bit insane when you when you look at all of this, but this news and this kind of, you know, buying pressure definitely takes time to filter uh through the market there. And you know, as I was saying, there are there is more than one of these treasury companies. There's Shink Gaming, Bit Digital, uh BTCS, uh Moss Ethereum, and Centurus Energy here. There's going to be more. Tom Le isn't listed on this website here, which is the strategic ETH reserve website. you can go uh check out the website for yourself there. These numbers I don't believe are up to date because you know

um these things are extracted from the public filings or reports. So until they publicly file again uh you don't know the exact numbers but still you know this you you have Shar link here Bit Digital uh you update that to over 100,000 ETH because this is an old screenshot. I mean it's only 2 days old but since then they've bought a lot more. You've got over 300,000 ETH easily. that 366,000 mark. I'm pretty sure where we're there, including Tom Lee's buys, right? So, essentially, you're at this point where since the merge, which is almost three years ago now, guys, we've offset 100% of the issuance without just the burn. Like, you include the burn and then you include these buys. Um, and essentially, we're at net zero. People ask, well, why isn't the price going up, right? Like,

why isn't ETH going up against BTC? I mean, it will. Like, that's the thing. Like, you shouldn't be complaining that it's not going up. you should be thanking that you have more time to buy it at this price if you are bullish on ETH. If you're not bullish on ETH, then obviously you're not buying, but hey, like if you're bullish on it, you should be very thankful that you have the opportunity to do so at a relatively low price. So that's uh that one there. I think I had one more thing to say about this. So all in all, obviously very bullish that all these companies and are buying ETH and all these individuals are buying ETH. That's great. But I also put a tweet out where I said, you know, the bullcase, like the real bullcase isn't Tom Lee, Luben, whoever else buying ETH.

The real bullcase and at the heart of it, the first principles bullcase is the world waking up to the fact that ETH is the greatest programmable store of value in existence that powers the most decentralized onchain economy. That is the real bullcase, guys. Because, as I said before, it does it means we don't just have one sailor. It means we have many, many sales. It means we have many, many big buyers of ETH. and they're buying based on sound narratives and sound principles and a sound bet on ETH being a very valuable future programmable store of value. I mean, it is already pretty valuable at $300 billion, but as we all know, uh, you know, or as we're all kind of like bullish on ETH here, we all know that the fair value of ETH is hundred trillion dollars, right? So, until we get there, ETH is not fairly valued. But

then at that point, we'll just pivot and say, hm, maybe fair value is$1 quadrillion dollars. But I feel like at that point the US dollar is probably not going to be the best way to measure things because um it it has likely been completely devalued. So we we'll see what happens when it gets to that. But yeah, if you're bullish on ETH um and and and you've got, you know, you got ETH bags, whether you pack them now in the past or you you plan to buy more in the future, uh you should really be paying attention to just how many people are waking up to the fact that ETH is a really good asset to own and actually putting their money where their mouth is. I know a lot of you have seen this already. You probably uh you know you've probably seen all my tweets and all

other people's tweets about this, but it is worth reiterating that it is a complete night and day difference to what it was even 3 months ago, guys. Like the narrative, the sentiment is so different. And what makes me really bullish is that yes, the ETH price went up. But if you actually look at the ETH price, you know, in a in a vacuum, um it's doing relatively okay since it since uh it it dumped to $1,400. But if you look at it against other assets, well, you could still argue it hasn't done very well against BTC for for a long time now, and that's true. You could argue it hasn't done well against some other assets for a little while now. That's true. So, as I've said in the past, sentiment usually follows price, but we're actually seeing the opposite of that right now to an extent

where sentiment is so good, but price isn't up yet. So, I actually think that makes it even more bullish because it means that the people are really like happy and really kind of like bullish even though the price hasn't gone up yet. And that that's kind of like counterintuitive to what you normally see. So, that to me, I guess, signals a few things, but maybe the main thing it signals is that people really really do believe in ETH. You know, it's not just a believe in ETH because price went up. It's believe in ETH because you believe it is the greatest programmable store of value in existence. you believe that it is me much better than BTC. You believe that Ethereum is the world computer and is going to be the new financial system or the backbone of the new financial system. U and I believed all of these

things since basically day one of getting into Ethereum. Uh but you know, I'm always happy to welcome new bulls into the Ethereum ecosystem. Uh the only people that I don't really like personally like to welcome is the ones who just like on ETH for the last couple of years said they were really bearish on ETH and Ethereum and then suddenly are becoming bulls now because Tom Lee went on CNBC and said that he's bullish. Like I don't respect those people at all. I think that those are the worst kinds of people in this industry. But hey, if they want to be ETH bulls and they want to buy ETH, go for it. Like no one's stopping you. That's the beauty of it. Like I can't stop you. I wouldn't stop you anyway.

But like even if I wanted to, I can't stop you from doing that. I can't stop you from using the network. No one can stop you from using Ethereum. Not even the US government can stop you from doing that to an extent, right? Like there is different different risks here obviously, but Ethereum is the most censorship resistant um network in the world. Like there's nothing that even comes close to Ethereum. Uh so yeah, it doesn't really matter what my opinion is on things. You can be bullish if you want and hey, you can join the ETH bull trade. It's fun over here. But anyway, that's enough on ETH asset. I have a few other things to talk about when it comes to Ethereum the network, but um I guess like a main reason why I'm doing another episode so soon after doing one on Friday. Like maybe you guys expected me

not to do another episode for another 2 months, but the main reason is because I'm just so bowled up lately. Like I'm so like happy about the ecosystem now. I remember I said that I felt like I was the only soldier on the battlefield um for for a little while there. Um and recently I don't feel like that at all anymore. I feel like I'm actually not even on like I feel like I'm I'm not even important on the battlefield anymore. I feel like there's so many other players on the battlefield now that I can just like step back. I don't even have to do anything because so many other people have taken up uh arms and basically joined me, which is amazing.

Like it's an amazing feeling to finally feel like I'm not fighting alone here. There's so many people that are just bullish on ETH again. So yeah, that's like the main reason why I'm just doing another episode, I guess, cuz I'm just so excited right now. You can probably hear it in my voice. But enough on that. Let's move on to the tech related stuff which are just you know the tech related stuff is just as bullish as the um asset related stuff. So one of the most bullish things that came out of the um ETC event in cans here was a talk given by Justin Drake all about getting Ethereum L1 to be giggas or entering the gigas era where we could scale Ethereum L1 to 10,000 TPS and beyond. So essentially as you guys know the way we're going to get there is by ZKFI the

L1. you know, enshrining a ZKVM there. You've seen projects like Cint Labs talk about this a lot. You've already seen Justin Drake talk about this a lot. You've seen ETH proofs.org tracking this. Essentially, the main barrier uh to to basically getting this implemented. I mean, there's two main barriers, but like the main barrier for the ZK side is getting the proving cost down and the proving time down. The main barrier on getting it implemented into the protocol side is just going through the entire kind of protocol governance process, right? Which takes a while. So, if I had to give a timeline here, I could say I I'd say we probably see this in 2027. Um, but it could happen earlier than that. Like, I'm being conservative.

Maybe could happen earlier than that. Um, but yeah, he spoke about this. Go give the talk uh watch if you haven't yet. I'll link it in the YouTube description below. Uh, but Jiari's here actually put together a um a nice summary of this of like what this actually looks like, you know, what's the expected timeline, stuff like that. Uh, and and essentially like why it's a massive unlock for Ethereum, right? And as you guys know, it's a massive unlock because we get huge scalability at L1 while also preserving what makes the L1 great, which is, you know, at home validation, solo staking, decentralization, censorship resistant, all that um stuff there and doing it very cheaply. And the funny thing is we actually make Ethereum even more decentralized because uh I think Justin Drak has said this before, but essentially you'll be able to prove

these these blocks or verify these uh these um these blocks on a device that uses like less than 10 watts of power, I believe. Um that is basically, you know, lower powered than a than the most basic Raspberry Pi. I can't remember what they call their really low powered device, but it's essentially that uh which is just a massive unlock there. We get that we get massive scalability for L1. We don't sacrifice anything. I don't know. Like I don't know how you can't you you just have to be bullish when you when you hear that. And this is not something that is a pipe dream, guys. This is not science fiction. This is real. This is actually real tech. It's just going to take time to implement it because of the fact that we need to bring costs down.

We need to bring proving times down. And we also need to get it integrated into the network as well. And we also need to get like um all the different infrastructure to support it and so on and so forth. But it's coming. Now, in terms of like the overarching timeline of when we can actually reach like many, you know, many giggas, like not just one gigas, but like 10 2030 is probably, you know, not going to be until 2030. This is a 5year road map. This is essentially what Justin Drake talked about with his beam chain uh uh proposal back at DevCon, right? But it's going to be done in stages. So, I think that we could see the earliest stage potentially in 2027, maybe even late 2026. I don't want to like marry any timelines here. Uh but as we know there's you know there's two

upgrades already speced out for Saka which is pretty much like going to go live this year I believe like probably maybe October November sort of thing. Um you know November's dev connect so it's late November. Maybe we do it in early November. We'll see. I don't like the timeline there is a bit fuzzy right now. Then there's Glamsterdam next year which might be like mid next year. So realistically if we were to do another fork that includes this sort of stuff it' probably be 2027. That's why I say 2027. Um, and just before I I I um I move on here. I just wanted to mention that I I said a while ago that I may not go to Dev Connect. I don't know if maybe I didn't say that on the refill, but I was thinking about it for a while, but as of today, I've decided that I am

going to Dev Connect in Bonazis there. I um I can't miss that. Like I I I get to see all my Ethereum friends in one of the cities that I've wanted to visit for a very long time. There are a lot of crypto people in Argentina, a lot of Ethereum people there. Um, and Dev Connect is hosted by the Ethereum Foundation. They always run a good conference. So, yeah, I um I'm definitely going. So, I hope to see many of you there, but that's not until November. But anyway, go watch Justin Drake's talk. I'll link it in the in the description below. Moving on from that, uh, talking about the gas limit. So, again, like in the same vein of L1 scalability, but I haven't talked about the gas limit in a little while. So, I said that we're going to go to 60 million gas limit. Core devs aren't

comfortable with us going to 60 million just yet. They're comfortable with 45 million. That's what we're signaling for right now. So around 23% of all Ethereum validators are signaling for a 45 million gas limit right now. Uh we need to get that obviously to 50% before it kicks in. But yeah, the I think Nevermind has the the default set to 45 million right now. Uh I don't know if GU does. Maybe they will next release, but it all obviously depends on people upgrading uh upgrading their kind of like um their software here. But if we don't get it before Fusaka goes live, like because of the fact that you have to upgrade your client in order to um you know be part of the hard fork uh when Faka goes live, you would see the gas limit go live with Foraka essentially like if it gets to that. If

we do it before, great. But if we don't, then that's when we're going to see it basically. Uh because at the moment, like you either upgrade your client and has the default set and then you don't worry about it or you manually update your validators um and man manually update your stack in order to do this. So, we'll see. Um, but yeah, we're we're close there. But really, guys, like I'm honestly at this point in time, I'm looking at this and I'm like, I don't I still don't think there's like a massive rush here. We're doing it incrementally. Maybe we can kind of accelerate as well here, but there's so much other stuff going on when it comes to L1 scalability besides brute forcing it with um with just gas limit increases. Obviously, we have like slot time reductions, which hopefully can come in Glamdam. Um, we

have Perask going live for L2s, which is obviously going to scale uh the blobs. not going to scale L1 directly, but kind of helps to take a bit of load off L1 there. Gas limit increases. Uh, you know, there's plenty of stuff happening here. More efficient network, uh, things like that. But yeah, just figured it was worth giving you guys an update there. All right, last up here. I highlighted this website on Friday, for which is a new website that tracks all of the Ethereum upgrades and the EIPs within them. But I really wanted to just highlight this again and go a little bit deeper into it because like I actually can't describe how much I love this website. Like I I I can't there's no words to describe how much I love this website. I am checking this pretty much every day now. Um and there are not many

kind of websites or or or tools out there that I can say that about. Uh off the top of my head, there's a few other ones like the strategic um ETH reserve one. I check that every day. Uh of course ultrasound money I still check uh pretty pretty often. some Dune Analytics dashboards from Hill Dobby that are really great. U the blobs one, the A2 staking one, um the Ethereum dashboards kind of website by Honey Aru that actually has like all of these listed. That's pretty I I frequent that. But I really do think that forecast has become my new favorite website. Uh to to be honest and it's it's a number of different reasons, but the the two main reasons are the fact that like I get a really nice overview of all the EIPs that are considered for inclusion or even declined for inclusion in Fusaka

and Glamsterdam and or into the future other upgrades and they're also going to be going back and doing them for all the previous upgrades. Now, what I I think I mentioned this on Friday, but again, I want to reiterate the the best thing about this is not that it just lists the EIP and says, "Hey, okay, here's Podas. Here's what it does." Doesn't just do that. It goes through the key benefits in a really nice kind of like summarized way with the dot points. And then even more important, it goes through the stakeholder impact for each stakeholder. This is the number one thing that has been missing from the Ethereum ecosystem for a while now. This is the number one question that I've always gotten about each EIP. What impact is it going to have on me as a user? What impact is it going to be have on me as like an

infrastructure provider? What impact is it going to have on the layer 2s? So on and so forth. Now I have that answer right in front of me. I no longer need to go digging for it myself. I no longer have to go read some tweets that are buried, you know, from from ages ago. I don't I don't even have to, you know, ask chat GPT. I can just go here and get it, which is phenomenal for me. And then on top of that, they also have a Northstar goal alignment section here. So as you guys know there is the scale the L1 scale blobs and improve UX that is the the three core kind of roadmap pillars for Ethereum going forward and they list here where this fits into. So Pas fits into scaling the L1 and scaling blobs. And then you go down you can see

history expiry and simpler receipts another EIP here. Where does that fit? Okay. Well fits in scaling the L1. Okay. What about uh some of these other EIPs here? Where do they all fit? And they got they've got it for each EIP. Here's one that improves UX, transaction gas limit cap. Okay, why does it improve UX? Because you get more predictable transaction inclusion and fairer access to block space, though it may require some large applications to restructure their operations. So, not only do they give you the the the reason why this improves UX, but they also tell you that it probably requires uh you know, some third party uh uh stakeholders to restructure or update their operations as well. This is a gold mine, guys.

Like, I actually can't believe this is free to consume honestly. like I would pay for this. I would pay for this. I know this is something that the Ethereum Foundation has um has done here. Uh so obviously they're not going to charge for it, but like I would pay for this and I think a lot of people would. This is Yeah, I again there's no words to describe how much I love this website and that's why I wanted to highlight it here for you guys again. But enough of me gushing about that. You can go check it out. I'll link it in the YouTube description below for you to do so. Now, finally here, ETH is turning 10 this year. Uh, so the Ethereum network went live July 30th, 2015. That was the Genesis event. So July 30th, 2025 will be the 10-year anniversary of that

event. Now, there are events taking place all across the globe here um on each continent. You can see here listed out by Josh Stark. Uh offic I mean, they're not like a quote unquote official events run by the Ethereum Foundation or anything, but they are community run events. I'm going to be attending the one that's in um the oceanic region here, which is going to be in Sydney. So not in Melbourne, unfortunately. would have loved for it to be in Melbourne, but it's in Sydney. It's a short 1-hour flight. It's fine. So, I'll be there. I'll be speaking and attending, of course. Uh I'm only there for that night, so just a quick trip for me uh there. But I hope to see many of the fellow Aussies there. If you want to uh attend, DM me on uh Discord. Uh don't DM me on Twitter, DM me on Discord or

ping me on in the in the Daily Discord channel and I'll send you the events um page. I believe that you have to be accepted to be to attend on there obviously cuz they want to manage numbers. So I don't know if it's a guarantee that you're going to get accepted. Uh but hey, I'll I'll try to help where I can there as well. But just wanted to put that out there uh there. But I think on that note, that's going to be it for today's episode. So thank you everyone for listening and watching. Be sure to subscribe to the channel if you haven't yet. Give a thumbs up, subscribe to newsletter, join the Discord channel, and I'll catch you all on the next one. Thanks everyone.