I’ve Been Watching Crypto Projects Die Because They Ran Out of Runway and Plasma’s Burn Rate Worries Me Honestly
They’re subsidizing every transaction. Sponsoring gas costs for millions of users. That’s expensive generosity when you’re not generating meaningful fee revenue yet.
Framework Ventures came in at a $500 million valuation and they’re probably underwater right now. That’s not a small thing. Institutional investors losing money get impatient.
But here’s what changed my thinking slightly. They’re still holding $2.1 billion in stablecoins after cutting incentives by 95%. Users stayed without financial motivation. That’s either genuine utility or extreme laziness but either way money isn’t leaving.
The NEAR Intents integration connecting 125+ assets across 25 blockchains opened serious liquidity access. Getting in and out of Plasma is genuinely easier now which removes a major adoption barrier.
CoW Swap integration adds on-chain execution for traders who care about MEV protection.
Peter Thiel’s Founders Fund doesn’t chase lost causes typically. They’re betting infrastructure wins long-term regardless of short-term economics.
Is patient capital enough to outlast the runway pressure?
