Quick Reads and Hot Links Covering the People and Projects Who Are Scaling Ethereum
Dear Frens,
"Show me the money!” may be the most memorable line from Jerry Maguire, and “show me the L2!” may be the investor’s refrain during this coming cycle. This year has seen the L2 narrative explode, and with the bull market right around the corner, blockchains of all kinds are working to reposition themselves as Ethereum scaling solutions. Celo made the announcement earlier this year, as did a number of other L1s, including Canto, which is positioning itself as the go-to L2 for real-world assets.
While Arbitrum and Optimism have held the top spots by TVL for the last two years, Base, which launched in early April, quickly overtook zkSync and others to grab the third spot. The L2 wars are on, and like with all war, the fog creates confusion.
For example, what counts as an L2? Blast, a new blockchain backed by Paradigm and set to launch in early 2024, bills itself as an L2, but others have taken issue with that classification. Read more about it in the Hot News section.
As usual, there are updates on governance and activity for the major L2s, and ecosystem updates to keep you informed about the latest releases and events. We hope those who celebrate Thanksgiving had a great meal with friends and family. We at Bankless Publishing are certainly thankful for our readers and partners, and we look forward to growing together in the year ahead. You had us at gm.
Contributors: Warrior, jengajojo, thinkDecade, PaulitoBankless, Boluwatife, WinVerse, Tonytad, trewkat, HiroKennelly
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Born from the insight that liquidity flows toward efficiency, Blast natively generates yield for ETH and stablecoins - an L2 first.
Backed by leading investors, Blast is designed from the ground up to incentivize liquidity. It does this by seamlessly passing back staking rewards, interest rates, and rebase yields to users' balances.