Token Terminal, the go-to platform for crypto fundamentals, just dropped a hilarious yet insightful meme on X that's got the blockchain community buzzing. The tweet features a clip from the movie The Founder, where Ray Kroc (played by Michael Keaton) gets schooled on why McDonald's isn't really about burgers—it's about real estate. But Token Terminal flips the script for crypto: "you're not in the payments business, you're in the L1 business" and "L1 token ... that's where the money is, and more than that ... control."

If you're new to crypto lingo, L1 stands for Layer 1 blockchain—the foundational networks like Ethereum, Solana, or Bitcoin that everything else builds on. Think of them as the "land" in the McDonald's analogy. Just like how McDonald's makes bank by owning the property and leasing it to franchisees, L1 blockchains capture massive value through transaction fees, token issuance, and governance control.

The McDonald's Parallel in Crypto Terms

In the original movie scene, financial advisor Harry Sonneborn tells Kroc that selling hamburgers won't make him rich, but controlling the land under the restaurants will. McDonald's buys prime real estate, builds the stores, and then charges franchisees rent plus a cut of sales. This model turned a burger joint into a multi-billion-dollar empire.

Now, apply that to crypto. Many projects start out focusing on applications—like payment systems (think Stripe but on blockchain). But as Token Terminal points out, the real jackpot is launching your own L1 chain with its native token. Why? Because:

• Fees and Revenue: Every transaction on the chain pays gas fees, which often go to validators or token holders. It's like collecting rent from all the "franchises" (dApps and users) operating on your "land."

• Control and Governance: Owning the L1 token gives you voting power or influence over the network's direction. That's the "control" part—deciding upgrades, security, and even which projects get prioritized.

• Scalability and Ecosystem Growth: Just as McDonald's expands by opening more locations, L1s grow by attracting developers, users, and yes, meme tokens, which drive insane trading volume and fees.

This meme hits home because we've seen it play out. Projects like Optimism or Arbitrum started as Layer 2 solutions but evolved to capture more value at the base layer. Even meme token launches on chains like Solana show how L1s profit from the hype without creating the memes themselves.

How This Ties into Meme Tokens

At Meme Insider, we're all about meme tokens—the fun, viral side of crypto that can moon overnight. But this Token Terminal meme reminds us that while meme coins like Dogecoin or newer pumps on Pump.fun grab headlines, the real winners are often the underlying L1 chains.

Take Solana, for example. It's home to countless meme tokens, and every trade, swap, or launch racks up fees that boost the SOL token's value. Meme creators and traders are the "franchisees," paying to play on the chain's infrastructure. If you're holding SOL, you're essentially collecting a slice of that action through staking rewards or price appreciation.

This analogy is a wake-up call for blockchain practitioners: If you're building a payments app or DeFi protocol, consider going deeper. Launching an L1 could shift you from scraping by on app fees to dominating with network-level control. But beware—it's not easy. Competition is fierce, with established L1s like Ethereum holding massive network effects.

Why This Meme Matters for Crypto Investors

Memes like this aren't just for laughs; they're shorthand for big ideas in crypto. Token Terminal uses data to track these fundamentals, showing how L1s like Ethereum generate billions in annual fees (check their dashboard). For investors, it's a nudge to look beyond hype and focus on where value accrues—often at the base layer.

If you're diving into meme tokens, remember: The chain they run on could be your best bet for long-term gains. Keep an eye on emerging L1s that attract meme ecosystems, as they might be the next "McDonald's" of crypto.

What do you think— is the L1 business the ultimate power move in blockchain? Drop your thoughts in the comments or hit up the original tweet here. Stay tuned to Meme Insider for more breakdowns on crypto memes and token insights!