ETH's L2's Are they really not much attractive now

[Hamza2424]

Hi buddies,

Hope so you guys are doing well, I'm starting a new direction of topic on ETH's ecosystem where ETH disappointed us and even SOL is doing well at the same time, what are your current stands on the L2's on the ETH, I know there are many projects but from them in top 300 which projects look promising in the direction of getting retail attention and community traffic, based on the Dapps.

AS you all know the L2's performed a little well in the first half of the year but when we compare it to the SOL's ecosystem projects like RWA-based ones, it seems like L2s are nowhere, I was super confident on L2's like Matic which not L2 now ARB, OP and some other projects like ZK, Linea but it's looking like now there not much potential in these coins we better switch our portfolio to some other narratives like, Deep-AI and Gaming also dont forget RWA. What do you guys thin of L2 now?

[rdluffy]

It's after the airdrop that we see whether a network has a good future or not
some of them are still strong and buoyed by the expectation of airdrop, such as Scroll and Linea
ZKsync has lost a lot of volume and other networks like OP are generating a lot of volume because of indirect airdrops from OP.

the case of Polygon is very curious, everything is working, there have been no problems, and the price has not kept up with the movement

[libert19]

I like L2s, and I like to think best is yet to come especially in the case of OP, ARB and ZK.

OP stack has made it easier to launch L2 and IMO we'll see more companies joining the wave to create their own L2s similar to Coinbase's Base and Sony's Soneium, further strengthening the OP ecosystem and Ethereum itself.

I'm not updated with ARB ecosystem, but they are having trust of community as Arbitrum has highest value locked amongst all layer2s [1].

ZKSync's paymaster feature to pay fees in any token is really handy, until there is layer 2 or blockchain that is feeless this'll do.


[1] https://l2beat.com/scaling/tvl

[joniboini]

the case of Polygon is very curious, everything is working, there have been no problems, and the price has not kept up with the movement

I think they failed to generate hype because people are attracted to airdrops and farming nowadays, so a simple rebranding or token swap is not going to improve their trading volume. I don't think it's surprising since most rebranding doesn't necessarily generate new interest, especially when retail traders believe the network doesn't change that much. CMIIW.

The last time I used L2 projects, my biggest gripe was the bridging fees. Hopefully, it does get cheaper regardless of what L2 we use. Anyway, while I agree that the crypto market moves really fast, I think it's worth giving some time to L2 projects to grow more and see if they shape the ecosystem meaningfully or not. Short-term hype is not really sustainable IMO.

[ABCbits]

I've said it many times, but there are too many ETH L2 out there. Many of them offer similar feature (such as fast confirmation, low TX fee or rich/token NFT support). On top of that, many of them are centralized or have questionable decentralization, where Vitalik will only mention non-centralized L2[1].

[1] https://www.coindesk.com/tech/2024/09/12/ethereums-vitalik-buterin-amps-up-pressure-on-layer-2-networks-to-decentralize-further/

[Hamza2424]

the case of Polygon is very curious, everything is working, there have been no problems, and the price has not kept up with the movement

Hmm, Yup buddy nothing to worry about with the music coin but the price momentum is a little bit concerning, anyway in my views except base there's not much potential in any other chain to bring the traffic in the community. As far as I know, ZK can boost its performance but it needs some other marketing strategy as for the earlier most of the traffic was due to the airdrop community.

[rdluffy]

the case of Polygon is very curious, everything is working, there have been no problems, and the price has not kept up with the movement

Hmm, Yup buddy nothing to worry about with the music coin but the price momentum is a little bit concerning, anyway in my views except base there's not much potential in any other chain to bring the traffic in the community. As far as I know, ZK can boost its performance but it needs some other marketing strategy as for the earlier most of the traffic was due to the airdrop community.

I received a good amount of tokens from ZK sync and I'm grateful
I am still using zk to lend some eth in Zerolend, but after the airdrop most people including me, migrated the money to another chains
It's not hard to know that people are chasing airdrops heheh, Linea and Scroll are the next ones and they are delaying due to this

[Azharul]

I like L2s, and I like to think best is yet to come especially in the case of OP, ARB and ZK.

OP stack has made it easier to launch L2 and IMO we'll see more companies joining the wave to create their own L2s similar to Coinbase's Base and Sony's Soneium, further strengthening the OP ecosystem and Ethereum itself.

I'm not updated with ARB ecosystem, but they are having trust of community as Arbitrum has highest value locked amongst all layer2s [1].

ZKSync's paymaster feature to pay fees in any token is really handy, until there is layer 2 or blockchain that is feeless this'll do.


[1] https://l2beat.com/scaling/tvl

I am also agree with you. Because i am also like Ethereum L2. We know that ethereum is the second position crypto in cryptocurrency market. Ethereum L2 popularity will spreads in all over the world. But another we saw in cryptocurrency market, we know that ethereum also disappointed us, but we also saw that SOL is give us light of cryptocurrency world. So we must understanding in this moment, ethereum L2 comes very well and we must benefited from it.

[MrSpasybo]

Hi buddies,

Hope so you guys are doing well, I'm starting a new direction of topic on ETH's ecosystem where ETH disappointed us and even SOL is doing well at the same time, what are your current stands on the L2's on the ETH, I know there are many projects but from them in top 300 which projects look promising in the direction of getting retail attention and community traffic, based on the Dapps.

AS you all know the L2's performed a little well in the first half of the year but when we compare it to the SOL's ecosystem projects like RWA-based ones, it seems like L2s are nowhere, I was super confident on L2's like Matic which not L2 now ARB, OP and some other projects like ZK, Linea but it's looking like now there not much potential in these coins we better switch our portfolio to some other narratives like, Deep-AI and Gaming also dont forget RWA. What do you guys thin of L2 now?

Some Layer-2s may have virtually no users or TVL, but that doesn't necessarily mean they're failing. The total TVL of Ethereum Layer-2s is around $38.5B, indicating the appeal of these ecosystems: users can experience Ethereum's security with extremely low fees and high speeds.

Over time, most Layer-2 projects will either vanish or be acquired by larger Layer-2s. This is an inevitable part of market evolution and sets the stage for the Layer-2 trend explosion in this cycle. I still consider it a significant trend worth investing in, and I'm holding a few Layer-2 native tokens in my portfolio.

[libert19]

Some Layer-2s may have virtually no users or TVL, but that doesn't necessarily mean they're failing.

What does it mean then?

[bitterguy28]

The last time I used L2 projects, my biggest gripe was the bridging fees.

same here i mean i know the ethereum gas fees are really high and the bridging fees became even more so for those who are not so tech savvy all these layers and all this bridging may be too complicated for them even i had a hard time at first navigating around but i think this just shows how much development the community is making

Hopefully, it does get cheaper regardless of what L2 we use. Anyway, while I agree that the crypto market moves really fast, I think it's worth giving some time to L2 projects to grow more and see if they shape the ecosystem meaningfully or not.

yeah i don’t think we should expect them to magically change or solve all the issues from the l1 so we should wait for more and see if it is actually effective or just unnecessary

[hugeblack]

What does it mean then?

Locked tokens will contribute to increasing the price during certain periods when there is a closure by affecting liquidity, and thus the currency will be stable and suddenly fluctuate and then stabilize, just like the pattern of most altcoins, but as long as the project stops developing and is weak in terms of demand, we can say that it has turned into a dead currency.

[ABCbits]

The last time I used L2 projects, my biggest gripe was the bridging fees. Hopefully, it does get cheaper regardless of what L2 we use.

Bridging require more gas than sending ETH to another address, so it's not surprising. Looking at https://etherscan.io/gastracker, they estimate fee for bridging is about 5.5x higher than sending ETH to another address.

Some Layer-2s may have virtually no users or TVL, but that doesn't necessarily mean they're failing.

What does it mean then?

TVL means Total Value Locked. It means total ETH locked, which used on the L2. Although i believe low user/TVL on L2 that has been launched for some time as sign of failing.

[rdluffy]

The last time I used L2 projects, my biggest gripe was the bridging fees. Hopefully, it does get cheaper regardless of what L2 we use.

Bridging require more gas than sending ETH to another address, so it's not surprising. Looking at https://etherscan.io/gastracker, they estimate fee for bridging is about 5.5x higher than sending ETH to another .

Currently the fees on the ETH network have improved considerably
I have already paid 50 dollars for an eth contract on Eigen Layer
but it's demand and demand, sometimes the network peaks and it's hard to save on fees
on a day-to-day basis you can find better times to pay fees, especially for bridges
I've paid 20 dollars for a zksync bridge, but I've also paid 2 dollars for Scroll.

[libert19]

The last time I used L2 projects, my biggest gripe was the bridging fees. Hopefully, it does get cheaper regardless of what L2 we use.

Bridging require more gas than sending ETH to another address, so it's not surprising. Looking at https://etherscan.io/gastracker, they estimate fee for bridging is about 5.5x higher than sending ETH to another address.

I don't know why people use Ethereum to bridge in first place, there are plenty layer2s available, bridge in-between them, you'll pay significantly less.

If you don't have funds on layer 2 networks, then convert your BTC/DOGE/LTC (as long BTC fees are doable, and whatever other cheap crypto you got)  to Optimism/Arbitrum/Polygon via instant exchanges and then bridge to other chains from these layer 2s.