Odaily Planet Daily News: DeFi researcher Ignas posted on X criticizing Ethereum’s L2 strategy, noting that Robinhood previously earned a record $6 million in daily fee revenue, while its L2 paid only about $722 in on-chain fees. However, approximately 10% of the high fee revenue flows to Arbitrum, leaving the amount ultimately allocated to Ethereum L1 “negligible.”
Ignas believes that if Ethereum developers could formulate a clear strategy—first attracting more L2s and then monetizing once switching costs become sufficiently high—it could instead become a long-term business model beneficial to L1. However, no such clear strategy is currently evident in Ethereum’s roadmap. Ignas adds that, similar to how Uber initially subsidized growth in its early days, Ethereum might also use L2s to attract traditional finance businesses into its ecosystem and gradually increase its “rent” once high switching costs are established.