While Ethereum’s blocks have been nearly full for over a year, we’ve seen multiple L1 & L2 networks...for independently secured modules whereas Ethereum, Polkadot, Near, and Celestia (a relatively new L1...What makes rollups special amongst L2s is that they don’t try to get around this problem.

Examples like Uniswap (Unichain L2) and dYdX (dYdX L1) come to mind....Avalanche L1s: Pre-Etna Avalanche L1s pre-Etna were built for scalability and blockspace abundance....the L1’s performance. ...All staking-related operations for the Avalanche L1 are handled by the L1’s validator manager.

Morgan and FIFA are opting for tailored Avalanche L1s....Avalanche now supports 75 active L1s and over 845 total validators....of L1s live on Avalanche reflects how flexible the architecture is....Maplestory N runs on Henesys, their own Avalanche L1 tailored for the MSU ecosystem....Unlike the other projects, Mogul doesn’t run its own dedicated L1.

🔍 The L2 Wars The adoption of layer-2 networks built on Ethereum has been impressive over the past...In this case, the proof is in the fees: ~4% of Ethereum’s gas is now consumed by L2 contracts, up from...Additionally, L2s have flipped the Ethereum base layer in terms of transactions per second.

L2 Gas Consumption L2s have continued to gain steam, with them now comprising ~1% of total daily gas...Relative to the beginning of the summer, Arbitrum and Optimism have seen their share of total L2 gas...An optimal L2 should offer high throughput off-chain and an efficient / small footprint on-chain.

As highlighted by Flashbots’ research on L2 MEV, over $3.9 Bn in atomic arbitrage volume and $400 Mn...The funds used by a prospective auction participant to place bids are deposited into this contract on L2...Atlas helps capture MEV on the app layer, but it is out of scope for this post as it is concerned with L2...

L2s spend 80% of life below launch. Consumer Crypto is bimodal. +15pp from 90d to lifetime....The market is no longer paying premiums for L1 narratives. Cash flows will be the kingmaker....under-accrual or MegaETH — 53.3% of 10B MEGA gated on 4 KPIs (ecosystem growth, performance, decentralization, L2...

Chart of The Day: Avalanche and Cosmos Lead L1 Recovery The crypto markets experienced a tumultuous...This, of course, had a knock-on effect on the rest of the market, including other L1s....For more on L1s, you can read more on our Delphi Pro report on L1s vs L2s here. Paywall removed!

Chart of The Day: Near Leads L1 Recovery NEAR led the L1 recovery by growing by ~50% over the past...With LFG putting buy pressure on BTC, it has outperformed multiple other L1s like CRO, AVAX, BNB, and...Chart of The Day: Near Leads L1 Recovery NEAR led the L1 recovery by growing by ~50% over the past […...

Most L1s already have the significant majority of their supply staked (ETH is currently the outlier for...

Chart of The Day: Some L1s Win, Some L1s Lose Since the BTC bottom around Jan. 24th, most L1s have...With BTC recovering recently, most L1 tokens are still underwater even as BTC approaches +20% from its...Surprisingly enough, AVAX seems to move with a higher correlation to BTC relative to other L1s.

Discord News Alchemix hints at veALCX. FujiDAO teases a new concept in their discord. GnosisDAO discloses SAFE token allocations. JonesDAO […]...

Chart of The Day: Gas Spend Surges in March on L2 Activity Layer-2 rollups post all their transactional...This allows L2s to inherit the security of the L1 it settles on....The surge in gas spent was propelled by activity from several L2s....by L2s to utilize its security....For more detail, read our Delphi Pro report about L1s vs L2s.

...moving the execution of transactions to a separate chain and then batching them together to post to the L1...protocol launched, originally on the PoS sidechains xDAI and Polygon, and later in the year on the L2...Usage did not start to spike until the L2’s became more used....As we see below, this directly correlates with the L2 launches.

A fast confirmation layer with Single Slot Finality: Low-latency confirmations between L1 and L2s....To be fair, this is likely to be abstracted away over time, with most L1s & L2s enabling stablecoins...It’s built with these key parts: Initia (L1): The settlement layer for L2s, provides security and a...

No L2s....rollup roadmap: theory – issue assets on eth l1, bridge to l2. can escape hatch back to L1 if needed...and L2s)....the ultimate vision for what belongs on L1 and what belongs on L2?”....L2s....With the numerous L1s/2s focused on performance, new stacks that enable better appchains, crypto primitives...

To alleviate costs, Worldcoin launched an L2 based on Optimism’s OP stack....the fact that billions of dollars of users’ liquidity and assets still live on Ethereum and not its L2s...The reduced verification costs for L2 on L1 result in lower transaction fees for L2 users....A reduction of ~88% that could flow back to their users by reducing L2 fees.

But now we have a lineup of several EVM L1s and L2s that are breaking past 10,000 (Theoretical TPS) and...Many EVM-based L1s and L2s are now aiming for giga-scale gas throughput....On Data Availability & ETH Alignment One thing to make a note of is that all the L2s reaching for...

L1s Can’t Stop, Won’t Stop BTC is and has been leading the market for a few weeks now....When BTC momentum slows down, L1 tokens often perform better than any category....L1s have been the best performing tokens since the June bottom — and quite frankly, they boast the highest...Most L1 tokens (especially SOL) experienced a strong catch-up move today.

And- Yeah, I think all L1s, I agree that it’s sort of like the app chain thesis that I think we were...from L2B yesterday released something, and it was, like, 63 out of, like, 118 L2s that they track do...is that I wrote about this, like, two years ago now, how Base and Arbitrum were basically the only L2s...