BlockBeats news, on September 6, renowned DeFi researcher Ignas noted that Robinhood’s L2 paid only about $722 to the underlying layer yesterday, while Robinhood’s own daily fee revenue reached a record $6 million, with approximately 10% flowing to Arbitrum and nearly nothing reaching Ethereum L1.
Ignas questions whether this structure—where platforms make huge profits while the settlement layer receives almost nothing—is truly a problem for Ethereum. Ethereum may currently be attracting TradFi into its ecosystem with low fees, planning to increase its take rate once user migration costs become high enough. If the official roadmap truly includes a strategy of “first attract large volumes of L2s, then monetize L1 once switching costs rise,” this could be bullish for ETH. However, no such strategy is evident in Ethereum’s current roadmap.