Everyone will build an omni-DeFi protocol. The next investment thesis is founded on seeing more builders, regardless of their ultimate use case, build their own omni-DeFi protocols, creating durable economic runway for the application layer above them. These protocols will achieve full harmonization of existing DeFi primitives, RWA assets and create new abstractions and primitives of their own. Layer 2s were through to be the most effective way to durable runway (gas fees), which proved to be mistaken. This refined strategy will meet the user on the chain they’re already on. This is where their time, energy and capital will go. This trend is currently being led by protocols like NetNet and The Strategic Reserve. The trick to acceleration and distribution will be getting other builders to build on your protocol, accruing value to your token holders. RWA stocks make this time different.