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Brent Fitzgerald
@bf
What’s the thinking or dialog around L2s as value extraction middlemen? Win by attracting users, being sticky, then eventually exploiting them. Meanwhile mainnet validators they derive security from see less and less revenue. It’s getting siphoned off at the layer above. Just a hunch as I’m seeing more projects launch their own chains.
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shazow
@shazow.eth
What's the distinction of L1 getting more efficient for L2 vs L1 undercharging for L2? The entire point of increasing efficiency is less revenue per unit, to support dramatically more units. Can we make a straight-face prediction that we'll scale ETH L2s to 1000+ TPS and ETH will be making less revenue than before L2s? (Also don't forget EigenDA and other restaking brings in revenue through restaking rather than displacing calldata fees into blob fees.) https://x.com/materkel/status/1845011100816773380
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shazow
@shazow.eth
Aside: I'm fairly sure we all agree that optimizing for ETH L1 revenue is the wrong move at this point.
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Brent Fitzgerald
@bf
Not suggesting optimizing for it, but I'm genuinely curious how much L2 weight the L1 validators are able/willing to carry. If we have 1000s of centralized L2s with very little usage, each occasionally rolling up to mainnet blobs for a pittance, and little other mainnet usage, what happens to mainnet security via staking over time? Genuine question, as I haven't seen this modeled out anywhere.
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shazow
@shazow.eth
What's the substantial weight difference on L1 if it's 1000s rollups vs 20?
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Brent Fitzgerald
@bf
Good question. How does this model out? Presumably it's transient blob storage that's the main driver? Also what's the tolerance of L1 validators for making a pittance while centralized L2 operators rake it in? Does it start to lose its luster?
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