| Ticker | Direction | Speaker | Thesis | Time |
|---|---|---|---|---|
| LONG |
Brian Pellegrino
Co-founder & CEO, LayerZero Labs |
"Almost all of that volume is from a very small number of groups... this is Ethena, this is Etherfy... we found what are the real use case... and help you co-build that thing." Pellegrino identifies Ethena (ENA) and Ether.fi as the primary drivers of volume on LayerZero currently. As "Zero" launches, these protocols will likely be the "Day 1" preferred apps, receiving first-class integration and speed benefits. They are the chosen "winners" in the LayerZero ecosystem strategy. LONG. These assets act as a beta play to the success of the Zero blockchain launch. Platform dependency; if Zero fails, these protocols lose a key infrastructure advantage. | — | |
| LONG |
Brian Pellegrino
Co-founder & CEO, LayerZero Labs |
"There's not going to be any net new token... Zero is the only asset and it is going to be the underlying gas asset and staking asset for proof of stake." Typically, a new L1 launch involves a new token generation event (TGE) which dilutes attention and capital. By repurposing the existing interoperability token (ZRO) as the native gas token for a high-performance blockchain, the token's utility shifts from merely "governance/bridging" to "network fuel." This creates a structural demand sink for ZRO that did not exist previously, especially if the chain achieves the projected institutional volume. LONG. The tokenomics upgrade is a massive fundamental catalyst. Technical execution risk (mainnet failure); failure to attract liquidity despite high TPS claims. | 30:33 | |
| WATCH |
Brian Pellegrino
Co-founder & CEO, LayerZero Labs |
Partners include "ICE... parent company of the New York Stock Exchange," "DTCC," "Citadel Securities," and "Google Cloud." These are not just "logo slaps" but infrastructure partners for a "Global Markets" zone. While this won't move the needle for Google's stock price immediately, for ICE (Intercontinental Exchange), actively building market infrastructure on a 2M TPS chain signals a serious move to migrate traditional order books on-chain. This validates the "RWA" (Real World Asset) thesis for institutional infrastructure providers. WATCH. Monitor ICE for announcements regarding on-chain settlement pilots, which would be a long-term growth driver. Regulatory hurdles preventing actual equity trading on the Zero chain. | 16:54 | |
| WATCH |
Brian Pellegrino
Co-founder & CEO, LayerZero Labs |
"Solana etc. is basically reduce the number of nodes and increase the requirements of the nodes... we don't think either of those is the way that you actually want to be able to scale a system long term." The "Zero" blockchain is explicitly targeting the market share of high-throughput monolithic chains. Pellegrino argues that Solana (SOL) and Aptos (APT) rely on centralization or massive hardware costs to achieve speed. If Zero delivers 2M TPS on consumer hardware via ZK compression, it invalidates the "hardware-intensive" scaling thesis of SOL/APT/SUI, potentially draining their developer mindshare and TVL. WATCH. If Zero's mainnet benchmarks hold up in September, it poses a competitive threat to the valuation premiums of current high-speed L1s. Zero may be "vaporware" or theoretical; Solana's network effect is already entrenched and hard to displace. | 8:50 |