Written by: Haotian
There have been many discussions about the future trend of layer2 recently. @VitalikButerin has already set the tone for the general direction: a diversified ecosystem centered on layer2-Centric (subtext: layer2 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 layer2. Next, let me briefly share my views:
1) The Gas Token, which uses ETH tokens as the second layer of layer 2 and relies on the DA capabilities of the Ethereum mainnet, was once considered the key to whether layer 2 has "legitimacy". Now that the exclusive DA territory has been breached, the status of the 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 layer2 ecological economy fell into the dilemma of "weak growth" and needed the bottoming incentive of native Tokens.
2) The first to use layer2 native tokens as Gas Tokens was @MetisL2. As a new layer2 project on Ethereum, 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, Metis's 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 layer2 uses its own Gas Token, ETH will have fewer application scenarios and layer2 will have less "empowerment" value for the Ethereum mainnet. In fact, this concern is unnecessary.
Because, as long as layer2 wants to batch transactions to the main network, ETH must be used as the settlement token. Only after the economic system of layer2 itself is activated and a large number of batch transactions and settlement behaviors are generated, can the Ethereum main network truly benefit, rather than simply letting $ETH be consumed as a Gas Token in layer2, increasing the user base and transaction volume, and relying on its own Gas Burn destruction. Isn’t it more effective?
From another perspective, in order to allow native ETH to flow into layer2 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 layer2 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, this may not be the case if the Gas Token of layer2 itself is used as the main circulation medium. Like Metis, it gives incentives to decentralized sequencers, gives additional subsidies to DeFi projects, and creates a flywheel effect for Seuquencer mining and DeFi, etc. No matter how you look at it, making an independent layer2 Gas Token seems to be an inevitable choice to revitalize the layer2 ecosystem.
4) Since the upgrade of Ethereum in Cancun, Rollup layer2s have been able to get 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 layer2.
It is impossible for layer2 to buff its growth expectations through mainnet upgrade expectations. It is time for layer2 to fight to the death and strive for all favorable conditions for independent, flexible and diversified development.
In my opinion, this is the real purpose of Vitalik's exploration of the layer2 diversified system. In the future, Ethereum layer2 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 layer2 development route that relies solely on the blood-sucking mainnet and short-term governance token incentives and stimulations without any core growth driving force is doomed to be unsustainable.
