Original author: Haotian
Recently, there have been many discussions about the future trend of layer 2. @VitalikButerin has already set the tone for the general direction: a diversified ecosystem centered on layer 2-Centric (subtext: layer 2 kids have to fight for themselves, Ethereum daddy can no longer lead them), and Gas Token is the key to supporting the independent economy of layer 2. Next, let me briefly share my views:
1) The Gas Token, which uses ETH tokens as the second layer of layer 2, and the DA capabilities that rely on the Ethereum mainnet were once considered the key to whether layer 2 has legitimacy. Now that the exclusive DA territory has been breached, the status of Gas Token has also been shaken. Layer 2 is moving away from the original preset expansion route attached to the Ethereum mainnet and becoming a more autonomous, flexible and more independent public chain route.
The DA functionality was separated because OP Stack provided the basis for one-click chain launch. Many developers who prefer low costs will choose DA component services other than Ethereum; the Gas Token was separated because the Ethereum layer 2 ecological economy fell into the dilemma of weak growth and needed the bottom-building incentive of native Tokens.
2) The first to use layer 2 native tokens as Gas Tokens was @Metis L2. As a new Ethereum layer 2 project, Metis has always been unconventional, for example, developing decentralized sequencers, hybrid rollups, using $METIS as the native Gas Token, etc. Looking back now, these paths of Metis seem to be gradually becoming normal.
In fact, judging from the current Metis mainnet TVL, transaction fees, DApp application deployment and other data, when the decentralized sequencer is launched, the LSD staking mining mechanism is launched, and the LRT re-staking platform emerges, Metiss native DeFi economy will show strong growth potential.
Obviously, the route that Metis has already taken is no different. OP Stack’s goal of launching customizable Gas Tokens is to stimulate the ecosystem based on autonomous tokens, such as subsidizing the transaction operation and maintenance costs of platform applications, subsidizing users’ transaction fees, donating or giving Grants to encourage developers to build the ecosystem, etc. These are the advantages of autonomous Gas Tokens.
3) Many people are worried that if layer 2 uses its own gas token, ETH will have fewer application scenarios and layer 2 will have less empowering value for the Ethereum mainnet. In fact, this concern is unnecessary.
Because, as long as layer 2 wants to batch transactions to the main network, ETH must be used as the settlement token. Only after the economic system of layer 2 itself is activated, a large number of batch transactions and settlement behaviors will occur, and the Ethereum main network can truly benefit, rather than simply letting $ETH be consumed as a Gas Token in layer 2. Isn’t it more effective to increase the user base and transaction volume by relying on its own Gas Burn destruction?
From another perspective, in order to allow native ETH to flow into layer 2 for circulation, a cross-chain bridge is required, and users only get a wrapped version of ETH. At this time, ETH can hardly be used as an absolute credit asset to generate value for layer 2 lending and other DeFi protocols. After all, there is an additional layer of strong cross-chain trust cost, and users obviously prefer to conduct such DeFi interactions on the main network.
However, if the Gas Token of layer 2 itself is used as the main circulation medium, it may not be the case. Like Metis, it gives incentives to decentralized sequencers, gives additional subsidies to DeFi projects, and creates a flywheel effect for Sequencer mining and DeFi, etc. No matter how you look at it, making an independent layer 2 Gas Token seems to be an inevitable choice to revitalize the layer 2 ecosystem.
4) Since the upgrade of Ethereum in Cancun, Rollup layer 2s have been in place to receive support from the Ethereum mainnet. On the one hand, the DA cost has indeed dropped a lot after the Cancun upgrade, and the usage load and fee rate of Blob space are still within the controllable range, and even the potential has not been fully tapped; on the other hand, the benefit effect of Ethereum sharding upgrade on Rollup will be very weak, and in the longer term, ZK-SNARKs, Ethereum DAS, and light clients are unlikely to directly benefit layer 2.
It is impossible for layer 2 to buff itself with growth expectations through mainnet upgrade expectations. It is time for layer 2 to fight to the bitter end and strive for all favorable conditions for independent, flexible, and diversified development.
In my opinion, this is the real purpose of Vitaliks exploration of the layer 2 diversified system. The future Ethereum layer 2 can only keep up with the times and become part of the Ethereum ecosystem if it differentiates its functions and business models and explores a self-driven growth ecosystem. The layer 2 development route that relies solely on the blood-sucking main network and short-term governance token incentives and stimulations without any core growth driving force is doomed to be unsustainable.
