Ethereum

If ETH is money and a store of value, why don't L2 DAOs hold any?

How can we claim ETH is money to the world when the most "aligned" organizations in our ecosystem don't hold it themselves?

Correction: I was wrong to say none of the L2 DAOs hold ETH. Big thanks to @cupojoseph for pointing this out! (note to self don't tweet before coffee lol) 

Huuuuge props to ZKsync for leading with 12.3% of their treasury in ETH, and also to Mantle and Arbitrum for holding some ETH as well

Here’s what I found on @DeepDAO_io:
Mantle: $4.6B, 6.2% in ETH
Optimism: $4.3B, 0% in ETH
Arbitrum: $3B, 1.3% in ETH
ZKsync: $366M, 12.3% in ETH
Polygon: $203M, 0% in ETH

(treasury sizes don’t reflect liquid value due to illiquid tokens)

/ethereum foundation | the tools we create will set us free paragraph.xyz/@chaskin

https://warpcast.com/chaskin.eth/0xa98ad1d3

I like baking /goodbread and building apps on web3 protocols. DevRel @ ENS Labs. gregskril.com

yup idk what the ideal ratio of their own token to ETH should be, but certainly not 100 to 0 right?

because they would have to dump their own token to aquire ETH (i think)

because most of the L2s are not particularly ethereum aligned, they are VC-backed private corps

It's a good point. Do we know why they don't hold it? You could even argue L2s have future ETH liabilities so it could make sense for them to hold some just for operational reasons.

all L2 DAOs should have L1 AMOs

with nested intents, they can prescribe alignment even further than validators.

if ETH is money then how come I have to use a credit card for like every ETH service like RPC access

If ETH is money… ETH cross-chain transfers should be free. If Layer 2s want interoperability with other Layer 2s, including the Layer 1, ETH should be their answer

The long term sustainability of grant funding is one of the most under discussed topics in L2 governance. 

Are we just so afraid of discussing price-adjacent topics that we’re creating blind spots?

kind of ironic lol. preaching eth as money while daos stack stablecoins.