Millie on Warpcast

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Millie pfp

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.

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↑langchain 🎩 pfp

↑langchain 🎩

I don’t think L2s token value accrual is known yet? Aside from that, the strategy of Optimism is very impressive to me. I think superchain is likely the most viable path forward.

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Nelson pfp

Don’t confuse community token market cap with value. (Also BSC has strong tokenomics and fee capture) 🫠

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Kenji pfp

L2s are one of the most over-crowded trades. The top ones are extremely overvalued. 1) Chains look the “worst” when they have little usage because the lack of users is so glaringly visible. 2) Chains require a “neighborhood” of dAPPs to feel good to even “feel good” to use. Most don’t have this.

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•Catch0x22• pfp

•Catch0x22•

Majority of retail probably have no idea about arb/op let alone other chains Bnb has binance like sol had ftx

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Matthew Fox 🌐 pfp

Matthew Fox 🌐

Actually a crazy valuable comparison BnB has a very particular corner of the market but arguably so does Base (western consumer) and optimism (infastructure) Be interesting to see Especially OP as its become the escape goat for chains not to have a token in the near term

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Crypto Nerd pfp

I think L2s will have their time and doing pretty good atm with impressive TVLs. I personally like ZK for their amazing tech but it received a lot of hate recently from farmoors so I guess it would take some time for them to recover out of it lol

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Gmaer pfp

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

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Caster Cat #648 🎩🧾 pfp

Caster Cat #648 🎩🧾

Top L2s should be worth more than alt L1s

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akshayraj pfp

I like arbitrum. Low transaction fees, lots of liquidity (compared to other L2s) and some cool developments in the pipeline. Arbitrum stylus enabling Rust based VM and smart contract development with EVM equivalence opens up a lot of opportunities

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ciefa 🐌 eth/acc pfp

ciefa 🐌 eth/acc

re: BNB, they even start their own L2 now lmfao

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warpcash pfp

Bnb is only being propped up rn due to whales holding and locking up alot of supply for launchpools. The once, go to chain for shitcoins has fallen!

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Kevin pfp

Was thinking about it quite a bit lately as well. Not sure if you read recent DefiReport analysis (https://thedefireport.io/eth-l2s) which I find quite reasonable on this? Bottom line was that ETH will only be able to capture the settlement revenue in the long term, L2s execution rev and new data layers will likely capture a good part as well. For L2s token unlocks and uncertainty on value capture seem to remain an issue although vakuatuons have come down quite a bit. What’s your take on this?

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PSYTROVIA 🎩 pfp

I don’t know enough to weigh in, but I like what’s happening in a broad sense. what do you think @estentz ?

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Camazinga pfp

Need more uses cases for their tokens. For example, as paymaster to pay gas in their blockchain...definetly will pump their price.

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Sunisdu pfp

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