Nice question!

Our main thesis of Lightning being the transactional layer of the creator economy still stands. We have not seen major adoption yet, but the infrastructure is developing and the broader wallet/bank adoption is taking place - albeit, slower than expected. We are bullish of Neobanks adopting lightning in the coming months/years and bringing hundreds of millions of users into the ecosystem.

The major positive surprise was the way Nostr came together bringing together socials and lightning in such a beautiful way. We expected that would happen, but not at this scale and rapidity.

What hasn't changed in any meaningful way, but this may/will change, is the degree of regulatory questions arising in lightning, especially with MiCA coming up in the next years.