DeFi

Gm frens

What are y’all thoughts on L2s atm?

I feel like the top ones are a bit under valued. Basically all of them are worth low single digit billions or less, despite having pretty strong network effects.

Meanwhile BNB is sitting at a $90B valuation with a fraction of the activity of Eth L2s.

I’d agree on the undervaluation and could see in the long run these L2 tokens becomes something like sudo-equity in the chain. But rn, I don’t think they mean anything except for promoting a false sense of governance, which I believe will be fixed eventually