In this episode of Unchained, Laura Shin talks with Arca CIO Jeff Dorman about what truly gives Ethereum its value. Dorman challenges the idea of ETH as a pure store of value and explains why revenue capture matters for layer‑1 tokens. The discussion also touches on implications for Solana, the HYPE token, and broader tokenomics.
What it covers
Jeff Dorman critiques Vitalik's view of ETH as a store of value versus a fee‑burning token.
He argues that most L1 tokens capture little of the DEX and stablecoin revenue generated on their chains.
Dorman explains that a chain only captures that value when it owns the chain, the DEX, and the stablecoin together.
The conversation explores what this perspective means for SOL and the HYPE token.
Broader implications for tokenomics and how value is measured across blockchain ecosystems.
Summary by COINMAG, written from the video description.
ETH
SOL
HYPE
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