This.

I never talk about $LRC price because A) the market knows just as much as I do, & B) I don't wana shill (only Loopring L2 usage itself :)

But man, in what world does being further away from Ethereum - in assets, liquidity, & security - command a premium.

Backwards. https://twitter.com/RyanSAdams/status/1361780973709496323

An idea many harbour since 2017 is smart contract platforms stand to be the biggest winners.

If an alternative L1 can edge out Ethereum in some regard/capacity/niche -- an Ethereum killer is born, and boom, riches.

Well, rollups didn't exist then. https://vitalik.ca/general/2021/01/05/rollup.html

The vein that EK's always seek/sought to attack is scalability.

"Ethereum is sooo slow & expensive".

Yes, and it's no coincidence.

There is true decentralization, not 14 nodes.

And it's so popular, users will light money on fire to occupy its blockspace. Tough to outbid.

But now we have Ethereum scaling solutions that are completely coupled to base layer for security, but can process >1000x throughput.

I am part of one, @loopringorg. A zkRollup that has existed for >1 year, has TVL >$230m, and processes more txs vs L1s. https://twitter.com/finestonematt/status/1358884413615058954?s=20

You see all other alternative L1s/ former EKs building bridges to Ethereum now? That is smart. Better bridges than bombs. As I wrote in this piece, everything is an Ethereum enhancer now. https://www.coindesk.com/ethereum-enhancers-not-ethereum-killers

The only diff btwn alt L1s & L2 is 'posture', security, and label.

Security is simple: L2 = Ethereum security guarantees. L1/EK = different than Ethereum by definition.

Posture is a feeling: language, and embrace (or lack thereof) of Ethereum community/assets.

Label is practically speaking a mix of both, but strictly speaking, just security.

And we know which security model is more likely to grab a chunk of global economic activity.

But for some reason, which I understand to be the equivalent of old habits (narratives) die hard, the market is assigning a premium to L1s vs L2s.

This will be repriced massively, imo.

Why? Well you may have formed the thought yourself already, but they both:

- require a tx to bring your Ethereum-based assets across
- promise faster/cheaper experience once there

But L2s (at least zkRollups):

- don't have a potentially flimsy bridge
- can't steal your shit

- tooling is ~here (for users & devs)
- are more likely to compose with all the other DeFi protocols/apps already built on Ethereum.
[contentious point here, I concede, but same exact rebuttal of course goes for an alt L1 wrt to apps still on Ethereum].
- posture is aligned

So that's it. I think a single digit & mental block separates the next big narrative shift and corresponding repricing in the market.

L1 being more ambitious & potentially powerful than L2 is a myth. Given where things are, I believe the exact opposite is true. Watch for flip