HOW MANY ABSTRACTIONS DO WE NEED?

Summary from the TLDR Crypto newsletter

Overinvestment in crypto infrastructure obfuscates product-market fit for consumer crypto apps, emphasizing VC gains on L1 tokens over practical use cases. Projects are now pivoting to chain abstraction, solving the chain and liquidity fragmentation problem created by too many L1s. Galxe has quietly become a leader in this space, finding sector dominance with airdrop distribution and building an identity layer, chain abstraction vault, and the upcoming Gravity Chain.