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?

/ethereum foundation | opinions are my own but more than likely they come from Vitalik's blog paragraph.xyz/@chaskin

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

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

I thought sequencer fees are in ETH? Couldn't they just build an Eth treasury by not dumping (assuming they have runway?)

Founder, designer, & product guy at /basepaint and /eigenlayer

I think sequencer fees go to the company, not the DAO in some cases

Right, I think thats the thinking. Sequencer fees go to labs team to cover infra

Again, I definitely could be seeing this wrong

Here’s the contract that collect all fees from OP Mainnet for example https://optimistic.etherscan.io/address/0x4200000000000000000000000000000000000011#events

All withdrawals are to 0xa3d596EAfaB6B13Ab18D40FaE1A962700C84ADEa on mainnet which current holds 10k ETH and appears to be an OP Labs/Foundation multisig

This page describes that sequencer feed are typically used for “covering operational costs like L1 gas fees for data availability.”

At least OP Labs/Foundation holds ETH though!

It also be weird for the fees for the sequencer go to the company if the DAO retains control over it ala Superchain. I guess the stipulation could be the lab run the hardware, DAO maintains control, but Lab keeps the fees. That split is incongruent to me tho.

That can be amended w/ the lab/foundation agreement tho (if that's the case).