Literally a moat There is a misconception about cross-protocol interoperability. Many think that in an interoperable future, developers will build dapps that can be used on any protocol. This is only half true. Value will likely transact freely across protocols, allowing users to pay and get paid in whatever token they want (let’s call this “token interoperability”). However, it’s not clear whether smart contracts will run freely across protocols, allowing smart contract functions to be called from any protocol (let’s call this “contract interoperability”).