Gonna be honest with you. When I first started writing this piece, I struggled quite a bit. I know that I’m super bullish on the project, but for some reason, it’s hard to justify my bullishness in the linear narrative style of a typical report.
EtherFi doesn't boast a revolutionary new technology (e.g. no fancy zero knowledge stuffs), isn't riding the hottest new meta (e.g. AI), and doesn't even riding on a new popular meta (like Hyperliquid).
Yet, as someone who spent the better part of his career in TradFi, consulting, and centralized crypto firm (before going full degen) — I can’t help to feel that their business just… makes a lot of sense.