We are in the most boring and me too phase of crypto. We are in the putting New York Times online phase of crypto. This might sound contrarian but putting stocks onchain is an obvious step that doesn’t have any margins. The most exciting and truly disruptive phase of crypto will start once crypto twitter moves past the stage of seeking validation from big name incumbents. That magical phase of crypto would combine truly internet native assets (not RWAs), permissionless creation of such assets by anyone, and p2p electronic exchange of payments. No off-ramps required.