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wolf
@warcin
Can anyone point me to any quantitative analysis on the value flowing back to ETH from L2s that use it as a settlement layer?
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xh3b4sd ↑
@xh3b4sd.eth
The only real number that we know of is the "rent paid" indicator, which is what L2s pay today for DA. I think this includes settlement, but I am not sure about that. Since 4844 we hover around 50k USD per day rent paid. Strategically, blobs should become more abundant and therefore cheaper short term, because the future gain made from monetizing on DA and settlement will be vastly greater once we have 4 figures of L2s on top of Ethereum. At the moment we have only 100 of them online and only 10 of them do really matter in the grand scheme of things as far as rent paid matters. My hunch is that the long tail will eventually matter a great deal, because then we talk about real network effects.
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wolf
@warcin
Yeah, I just want to understand the scenario where alt DA layers really take off for prominent L2s and assess the value flow back to ETH when it’s used solely as a settlement layer
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xh3b4sd ↑
@xh3b4sd.eth
Have you reached out to @growthepie ? Maybe you could chat with them about methodologies and find a way to display differences of settlement and DA.
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growthepie.xyz 🥧📏
@growthepie
Thanks for mentioning us and sharing our metrics @xh3b4sd.eth @warcin I think one of our team members is working on a simulator that would help make projections for DA. In the meantime check out our Economics Overview https://www.growthepie.xyz/economics - Blobs are super cheap right now and make up a small % of L2 costs but the blob market is heating up - check out our recent announcement for more DA metrics. DA is going to be a longer term play for Ethereum as they are optimising for growth over profit right now. In terms of value accrual to L1 there are multiple factor including: fees, ETH being used in L2 economies, ETH being used by users to pay for gas on L2s and ETH being used as money in general. Let me know if this answers your question I can always get a team member with more expertise in this area to help too.
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wolf
@warcin
yup, I get the DA part, and you’re doing an amazing job showcasing that. I’m just trying to assess the direct impact of L2s using Ethereum solely as a settlement layer and what it means for ETH the asset. So, let’s say Base, OP, and Zora switch to alternative DAs like EigenDA or Celestia - what’s the impact on ETH?
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growthepie.xyz 🥧📏
@growthepie
Base last 90 days DA = 27.2% of costs = $22.4K OP last 90 days DA = 7.4% of costs = $2.3k Zora we dont have the data for this yet Right now Ethereum DA is so cheap if it lost all its customers for DA it would not loose out on much at all. Layer 2s still use calldata even if they use alt DA and this is the main source of revenue from L2s currently. More layer 2s in particular based rollups like Takio means even more calldata. The Ethereum DA market is going to be improved over time too. In terms of ETH the asset we cant give financial advice
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wolf
@warcin
🙌
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