The Chopping Block: Web3 Dies, L1 Valuations Clash & Crypto Burnout - Ep. 977

In this episode of The Chopping Block, Haseeb, Tom, Robert, and Tarun discuss recent crypto news, including Farcaster's shift away from social media, and debate whether this signals the end of Web3 social, with Tarun arguing that prediction markets are the new modality of social network. They also delve into the valuation of Layer 1 tokens, with varying opinions on whether they are overvalued, considering factors like competition and issuance. The panel then discusses Ken Chan's viral post about wasting eight years in crypto, with differing views on his disillusionment and the overall state of the crypto industry, followed by Tarun's paper on improving auto deleveraging (ADLs) in perpdexes.