Ethereum has long wrestled with the “non-ouroboros” problem: how to generate real revenue beyond speculative loops of buying, selling, and leveraging tokens on its chain. For years, memecoins, non-fungible tokens, and incentive-driven decentralised finance apps have propped up activity but failed to provide a sustainable foundation for Ethereum’s nearly $100 billion DeFi economy according to DefiLlama data. Now, as Wall Street is increasingly betting on Ethereum as the backbone of the stablecoin boom, co ...