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kripcat.eth 🎩
@kripcat.eth
Genuine question. To what extent is it possible for ETH to become “top heavy”? Is there a timeline where the modular blockchain thesis is successful and thousands of L2s collectively form the global infrastructure of a new decentralised financial system, shuffling trillions of dollars in value daily, all settling down to mainnet but ETH the asset does not accrue a substantial portion of this value? Doesn’t the economic security model ensure that if ETH is the backbone of a massive financial system, but undervalued as an asset then the whole system is vulnerable to attack? Is it possible to be bullish on the modular thesis but bearish on ETH the asset?
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Caster Cat #648 🎩🧾
@ariansh.eth
If this were to happen I would expect usage of ETH in defi and as a gas token on L2s to skyrocket. Also, ETH would accrue value from proofs and data being posted to L1. I’d be surprised if this isn’t reflected in the price of ETH not to mention the value accrual that will happen directly on L1
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