I brought this up in the telegram but it kind of fell on deaf ears. Yesterday’s run up in the price of Ethereum wreaked havoc on Uniswap. All over Crypto Twitter there were backlashes over gas fees from big accounts to little ones. Highest I saw was $50 on Uniswap.
Consider the macro economic environment: rates being kept near zero for 2 years, the Fed shooting for inflation targets above 2%, & no end in sight to QE in the near future. All of this is very bullish for crypto currencies. Bitcoin & Ethereum’s price could absolutely skyrocket in the next bull cycle & we have to be aware of what that will mean for projects like ZZZ & others that are built on Ethereum. Current gas prices are outrageous. Ethereum at an all time high will mean gas prices even higher then they are now! This will make projects like ZZZ & Uniswap unusable. Ethereum 2.0 is a long way off.
Is anyone working on bridges to other smart contract platforms? Is there a way to migrate ZZZ tokens to another chain…or use a second layer solution like Matic? I’m not a technical guru…but I do understand economics…if Ethereum’s price really runs, ZZZ will not work in its current form…DeFi projects that figure this out now, will excel while the ones who don’t will either become whale clubs or completely fail (the latter is the most likely because the rich don’t like paying high fees either).