The article discusses the Lubin-Song bet, made seven years ago, where Ethereum co-founder Joe Lubin and Bitcoiner Jimmy Song wagered on the user engagement of Ethereum applications. In May 2023, the stake hinged on whether at least five Ethereum dapps could achieve certain user metrics. It appears Lubin would have lost the bet, as evidence shows five Ethereum applications reached the necessary engagement: Circle, OpenSea, Tether, Uniswap, and wrapped ETH. However, some of these may not qualify as traditional dapps. If the bet were extended to seven years, only Uniswap has consistently met the thresholds, with other popular applications not maintaining the required user activity. The discussion also notes the evolving landscape of Ethereum and the competitive threats from centralized platforms. The conclusion indicates that the position of Ethereum remains complex, with ongoing challenges in retaining users amidst a growing digital ecosystem.

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