I looked at the table of profit and ecological data for @Optimism Superchain over the past year and extracted a few key indicators to share:
1) As of now, OP Superchain has a total revenue of 15,849 ETH, of which @base contributes 2,878 ETH. The revenue composition is: OP Mainnet's on-chain net profit + 15% of on-chain net profit sharing from OP Stack chains / 2.5% of total revenue); as this data does not have direct comparative income data from other L2s, I will not comment.
2) The OP Superchain ecosystem has expanded to 35 chains, including 33 L2s and 2 L3s; the statistics may not be complete, as more than half have not launched yet, but the rapid development speed of OP Stack is evident.

Putting aside the "neutrality" of the core members of the Ethereum Foundation serving as consultants to @eigenlayer, in terms of its technical value, Eigenlayer is really too important to the future development of Ethereum from a long-term perspective. In order to avoid everyone falling into the emotional misjudgment of "hating the whole thing", I would like to share some of my personal understandings for reference:
1) Many people are aware of the value of Lido to the Ethereum ecosystem. It manages a group of Validators, lowers the high threshold of 32ETH required for users to participate in the node, and avoids the complex node system maintenance. At the same time, stETH can re-release liquidity to avoid asset lock-in.

As the first Bitcoin native stablecoin YU, @Yalaorg announced a round of $8M Seed round of financing led by @Polychain and @EtherealVC last night. Yala officially announced its grand vision of leveraging the BTCFi liquidity yield market through stablecoins. What do you think of what Yala has done? It is a bit like Ethereum's "DAI moment". Yala intends to bring a "YU moment" to the BTCFi ecosystem. Next, let me briefly talk about my understanding:
1) If I remember correctly, the last time these two companies led the investment was Eigenlayer’s seed round. Yala’s investors this time also include Galaxy, Anagram, Amber Group, etc., which is considered a more serious financing - most of the money was from first-tier American institutions.

What do you think of @Uniswap's upcoming launch of Unichain, a layer2 dedicated to DeFi? I think the public opinion is in an uproar, and it is interpreted as the top DeFi application "defecting" from Ethereum. Previously, dYdX's independent application chain and MakerDAO's Endgame as NewChain had caused heated discussions.
In fact, Uniswap's independent chain plan cannot be considered a defection, but rather a catalyst to boost Ethereum layer 2. Why? Next, let me talk about my opinion:
1) dYdX built an independent chain based on the Cosmos IBC architecture, and MakerDAO intends to build an independent chain close to Solana. They are similar in nature, and both are hindered by the performance bottleneck of the Ethereum chain. Ethereum's Gas Limit determines that a block can only process more than a thousand transactions, and the performance of the layer2 chain is limited by the main network's Rollup contract processing capacity even if it is expanded off-chain. Therefore, dYdX and MakerDAO ultimately chose independent consensus chains. I have previously systematically analyzed the reasons in an article.

Recently, a little-known project @Rise chain has sparked heated discussions in the market. There are two reasons: 1) Not long ago, it officially announced a 3.2M seed round of financing, and Vitalik's name was on the list of investors. Doesn't that mean it will not invest in layer2? 2) It proposed the concept of GigaGas layer2, believing that Gas measurement is better than TPS, and tried to promote a high-performance layer2 narrative track? Next, let me talk about my opinion:
1) Whether Vitalik invested directly or donated in the form of donation is not the focus of discussion. Rise’s ability to obtain Vitalik’s support is directly related to the high-performance layer2 direction he leads.

1/Recently, I was fortunate to receive 4,000 EIGEN airdrops from the Eigenlayer Foundation. The eligibility requirement is to become a content creator who contributes to the community. If more project parties join the ranks of incentivizing content creators, won’t a new round of TwitterFi be coming? So how can you become a high-quality Content Creator in the eyes of the project party? Share some experience:
2/ Choose the right output direction. Primary project investment research, secondary trading opportunity analysis, hair hunter, macro market analysis, on-chain data indicator interpretation, etc., each has different thresholds and commercial transformation paths. You must not try to get involved in every direction, or you will end up with nothing. With some security technology background and VC experience, I naturally chose the project investment research direction. Investment research is not difficult, but the long-term output and value accumulation are important.

Recently, there has been a lot of discussion around @dappOS_com's intent execution network. Many people said that after Paradigm launched intent-centric, only the AI ​​Agent intelligent matching engine was hot for a while, and the overall progress of the intent track was not ideal.
So, what are the current problems facing the intention track? How should the decentralized solver execution network be implemented? Next, let’s talk about our views:

1) Paradigm has been throwing out intent-centric for a long time, and the intent track has indeed been lively for a while, with a number of projects including Anoma, Essential, dappOS, Brink.trade, etc. The intent track simplifies the threshold for users to participate in DeFi, can effectively connect with AI, and fits the characteristics of Mass Adoption, and is regarded as a major narrative in the bull market expectations.

What do you think of @humafinance’s $38 million financing? It has to be said that in the context of the increasingly sluggish market and the lack of new narrative hotspots, Huma’s new PayFi concept is really eye-catching.
So, 1) Why has PayFi become a new topic? 2) Analyze the underlying business logic of Huma's Lending+RWA+PayFi. 3) What is the follow-up expansion space of the PayFi track? Next, let me talk about my opinion:
1) PayFi is a new narrative concept proposed by the Solana Foundation. It is essentially an innovative attempt to apply web3 technology (programmable currency and token economics) to the real economy, aiming to expand pure on-chain financial innovation (DeFi) to a wider economic system.

Recently, the PayFi concept introduced by Solana Foundation has been popular in the market, and a series of popular projects including Huma and Credix have emerged.
Just yesterday, @veloprotocol, a veteran in the payment track, also announced that it would tokenize BlackRock's short-term Treasury bond fund (BUIDL) and integrate it into the stablecoin camp to further promote the integration of traditional financial institutions' products and the web3 chain world. What do you think? Next, let me talk about my observations.

In traditional web2 application consumption scenarios, problems such as long waiting time for accounts receivable and high friction in cross-border SWIFT agency settlement have always existed. The fundamental crux of the problem lies in the fact that such problems involve complex issues such as government policy and regulatory framework, banking system process specifications, cross-border payment infrastructure, and exchange rate and time zone differences.

Recently, @solana Foundation also blew the horn of "network expansion". Interestingly, it abolished the term "layer2" and named its network expansion plan Network Extention. I can't help but ask, has Ethereum layer2 really become the target of public criticism? According to Solana, can the general layer2 be fully transformed into a specific-purpose chain to solve the layer2 problem? Next, let me talk about my opinion:
1) Layer2 has been the hottest narrative in the past two years. It should have taken on the expectations of this round of bull market and become another summer for Ethereum besides DeFi Summer. However, the bleak price of coins in reality cannot support this expectation, resulting in the entire track experiencing emotional backlash and strong bearish sentiment.

Recently, the voices of FUD Ethereum and @VitalikButerin have become stronger. In particular, overseas KOLs have had very interesting discussions on topics such as Blobs space utilization and Layer2 revenue. Putting aside the emotions of the secondary market, how should we evaluate Ethereum's layer2 strategy simply by looking at the data? Next, I would like to express my opinion:
Let’s go back to before the Ethereum Cancun upgrade. Everyone was enthusiastic about RaaS and DA War, because the layer2 under the one-click chain was springing up like mushrooms after rain, which would directly drive the demand for Ethereum mainnet DA capabilities for layer2 Batch transactions, and then set off a price war for Blobs space. Then a large amount of ETH was destroyed in the layer2 War, and Ethereum turned from inflation to deflation, driving up the price of Ethereum, and everyone was happy.

How do you evaluate MakerDAO’s new brand upgrade? @SkyEcosystem When I saw the full screen of RIP for DAI, I knew it was not a simple matter:
1) From the perspective of the founder of censorship-resistant decentralized stablecoins, upgrading to UDDS with a freezing function has lost its “innovative” core;
2) From the perspective of complying with the DeFi compliance trend and competing with USDC for market share, the new upgrade may just be a new starting point for MakerDAO. Let me briefly share my views:
1) DAI is a product of a specific historical context. When the market lacked trust in stablecoins such as USDT and was in urgent need of a token that could maintain stable value, MakerDAO innovatively proposed a CDP model for minting DAI by mortgaging ETH.

Just when I was thinking about where Ethereum layer2 will go next, many overseas communities have already voiced "Make Ethereum L1 Great Again". Indeed, in the past, with the development strategy centered on Rollup-Centric, the market placed too much of Ethereum's lifeline on layer2. If L1 and L2 are separated, what will happen from the perspective of Ethereum's own performance optimization?
1) @VitalikButerin previously said that Ethereum is the overall roadmap of Rollup-Centric. He first used the Cancun upgrade EIP-4844 to reduce fees to incentivize layer2, and then proposed to increase the interoperability between layer2s, and even weakened or even changed the original Sharding strategy to support layer2.

Recently, @Optimism was questioned by the overseas community due to security audit issues with the Fault Proof System. After major security issues were discovered in the original permissionless fraud proof mechanism, the OP Foundation actually proposed to hard fork to fix the problem and convert it to a licensed proof? What exactly happened?

1) Simply put: Fault Proof System is a mechanism for verifying the correctness of Layer2 network status. Anyone can submit L2 status to the dispute virtual machine on L1 without permission and accept challenges from others. If the challenge is successful, a reward and punishment mechanism will be triggered.

The news that @SaharaLabsAI in the field of AI+Crypto has received a huge amount of financing of $43 million has been all over the screen. Indeed, the three major institutional buffs of Binance labs + Polychain + Pantera are enough to make everyone's imagination of AI narrative explode again. How should we view it? Next, I will briefly share my views:

1) Huge amounts of financing will become normalized in the AI+Crypto narrative direction, because AI is not just a pure narrative but also the core foundation of such companies. A company with AI genes can make sense by building a platform based on the Crypto framework, rather than just finding an AI direction and applying the Crypto model.

What do you think of the ServerFi concept proposed in a new paper from Yale University? Will it become a new turning point in the lack of innovation in web3? After reading this paper systematically, I have extracted some key points and added some thoughts for discussion:

1) Traditional GameFis all use the slogan of Play to Earn, and usually use two internal and external economies to maintain balance (dual currency model): the internal currency builds a consumption and scarcity system, drives existing users to consume equity tokens in their hands through value-added equity, and reduces potential external selling pressure; the external currency drives the price growth of the currency by continuously introducing external users and funds, which in turn promotes the growth of external tokens and drives the increase in internal game activity, ultimately attracting more external users to participate in the positive spiral of growth.

Why are there so many voices in the market that are pessimistic about Ethereum? In short, the Ethereum ecosystem is indeed facing a tense situation of internal and external troubles. Internally, expansion solutions such as Layer2 have always been unable to stand up, and externally, killers such as Solana have always been determined to destroy the Ethereum. Ethereum has ushered in a difficult moment under the pressure of lack of innovation and competition. Next, let me briefly talk about my views:

1) The large and small ecosystems of Ethereum Rollups have taken shape. After the Cancun upgrade EIP-4844, the short-term technical benefits of Ethereum have been settled. The longer-term shard chain is no longer expected under the impact of Rollup, and the upgrades such as reducing node costs, simplifying protocols, and ZK-SNARKs of the underlying layer are just icing on the cake. The entire blockchain industry is waiting for the second dragon Ethereum to hand in a satisfactory layer2 answer sheet, but as of now, layer2 has not carried the "growth" expectations of Ethereum.

Recently, @VitalikButerin said that Cross-L2 interoperability is no longer a problem. Although he did not specify the specific project, combined with the wonderful discussion in the comment area, I summarized some solutions that can solve the interoperability of Cross-layer2, as follows:
1）Based-Rollup
In the Ethereum layer2 camp, there are some projects that pursue compatibility equivalence. By allowing layer2 and layer1 to share components as much as possible, they achieve maximum compatibility with EVM, allowing layer2 to directly hand over the sorter function to the main network.
Specifically, when retrieving Mempool transactions, the Proposer of the main network can use a special route similar to MEV-Boost to capture the Rollup Batch transactions, and then directly complete the sorting and chaining on the main network. Representative project @taikoxyz

Yesterday, the news that @ParticleNtwrk received investment from Binance labs sparked heated discussions in the market. I would like to reiterate my view that "chain abstraction" will become a hot topic after "modularization". In addition to the enthusiasm of VCs and exchanges, the entire track's upstream and downstream supporting facilities have been cultivated for a long time.
1) Although chain abstraction and modularization are of the same origin, the goal of modularization is to improve the efficiency of development combinations and promote the prosperity of market infrastructure, while the goal of chain abstraction is to enhance user experience and pave the way for the rapid expansion of incremental users. Therefore, both are essentially injecting productivity into Crypto, and "chain abstraction" is more down-to-earth and is the next stop of "modularization".

Recently, the entire primary and secondary markets have been under a cloud of depression, and many people have asked, what is the next step for BTC layer2? The answer is obviously not as simple as Eastern and Western capital not taking over each other. After in-depth research on multiple representative projects, I have a deep understanding.
In my opinion, there are three main breaking points: 1) "new" narrative of asset issuance; 2) narrowing of layer2 "standards"; 3) the opening of BTCFi interest-bearing. Next, let me tell you my opinion:
The “new” narrative of asset issuance
With the development of Ordinals, BRC20, BitVM, Runes, and Layer2, the BTC ecosystem has fallen into a dilemma where the technology is becoming clearer, but the wealth-creating effect is becoming weaker. Why? The fundamental reason is that wealth creation only comes from the information game of existing funds, and technological iteration cannot attract incremental funds to enter the market.