THE PRIVATIZATION OF ORDERFLOW AND RESURGENCE OF THE FAT APP THESIS

Summary from the TLDR Crypto newsletter

Nearly half of the $25 billion in orderflow volume over the past month on Ethereum has come from private or proprietary applications. The trend started with DeFi summer, when transaction aggregators, wallet swaps, Telegram bots, and solver networks launched. This development supports the fat app thesis, where applications controlling user attention and order flow would accrue the most value in the ecosystem.