Great informative analysis as always. I think Binance did a great job copying what was already working in the decentralized space and introducing a massively cheaper version of it to an existing market of Binance users.

It's all Ethereum's fault. They should have worked on scaling and fees. It is also the fault of DAPP platforms like EOS for not creating feeless competitors fast enough and promoting them instead of committing $150 mullion into VOICE.