TLDR Tech / Crypto
"Credible Neutrality" Has to Survive Every Layer of the Stack
A credibly neutral base chain does not make the apps built on it credibly neutral. Real neutrality has to hold across order flow, transaction landing, frontends, oracles, liquidations, listings, governance, and jurisdiction. Whether an ordinary participant can compete under the same public rules as a sophisticated insider, without private relationships, preferential routing, or insider access determines neutrality. A system can still be impressive and better than legacy finance without meeting this bar. However, we should be careful not to conflate good product design with genuine neutrality. Any ceded ground on what truly counts as neutral is lost ground for the industry.
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