it's base's 3rd birthday today and i wanted to take the time to respond to this. i agree with your feedback on perception and as i reflect on it, i'd trace it back to three things: 1. we've taken "first party bets," the canonical example of this is our bet on social, including leaning in with farcaster and zora. this was an explicit bet to try and kickstart more growth for the ecosystem. and it worked in some ways (DEGEN was downstream of our work on farcaster!), but didn't in others. and i think with regards to the perception challenge, you mention, it created a real feeling that we were privileging some folks over others. from where i sit, this was us focusing on a specific strategy (social), but i think from the outside it read as focusing on specific projects and reality is perception. lots of lessons learned! 2. we've done an imperfect job of creating clarity for builders + contributors to the ecosystem on what we want them to drive. we've invested some in tools for making this more explicit (like where any app can see their impact and the leaderboard: but there's lots more to do. 3. base is an effort to build a decentralized network that's incubated out of a centralized business. we've been pioneering a lot of the ground around what that means. and i think that the reality is that it's really hard to build a decentralized network... without being fully decentralized and having folks have real skin in the game to build it with us. it's also a real challenge to manage perception of what is coinbase vs. what is base and how do they differ. lots of learnings here too! my latest thinking on each of these: 1. we're going to keep making bets, but i think one lesson for me is that we shouldn't be making bets on *issuance* of new assets. getting into issuance inevitably creates a feeling of us privileging certain asset types over others. the core role of base should be to *be the market*, not be the creator of new assets in that market. this should 2. the metrics that base cares about are: (1) active funded wallets; (2) trading volume; (3) TVL; (4) payments volume. we're going to be rolling out tools that help teams better see how they are driving these and then use these to recognize and reward folks more explicitly. we can't help teams find PMF - that's up to the founders themselves - but when things are working, we can find ways to pour more gasoline on the fire. 3. continuing to decentralize the network is a top priority. lots of work to do here! thanks for the good feedback and building on base. lots more work to do!