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Layer 2: Rollups
In this report, we look at how the Layer 2 ecosystem is shaping up and dive into the varying rollup solutions...In order to unlock the next phase of growth, the scaling torch has been passed over to Layer 2s, led...
1 Min
Infrastructure
Dec 2020
Infrastructure
Jun 2019
The Shift to Layer 2: A Potential Disruption Catalyst for the AMM Ecosystem
2, and then encourage liquidity providers to move over from the main pool to the layer 2 equivalent....1 and layer 2 AMM pools....However for an Ethereum smart contract on layer 1 to observe the state of a pool on layer 2, a layer...to layer 2 and back?
5 Min
Layer 2 / L2
Nov 2020
Ethereum Layer 2 Rollup Debate: Optimism, Starkware, Arbitrum and zkSync
Ed (Arbitrum) (00:06:25): Can I jump in here? Tom (00:06:27): Yeah, jump in....Tom (00:20:18): Makes sense....Ed (Arbitrum) (01:06:24): Sure. Tom (01:06:24): Oh, sorry, Mark....Ben (Mechanism)(01:13:40): And I guess, you know, maybe even at a further layer of abstraction, and this...2 Rollup scaling projects for an in-depth debate.
Infrastructure
Apr 2021
The Race to Layer 2s Is Underway
2 scaling solution for their perpetual contracts....2....While Layer 2 will bring incredible benefits for individual applications as they are ported over, it...This is why it will be crucial for projects to properly navigate the upcoming Layer 2 migration.
3 Min
Infrastructure
Aug 2020
Reserve & Celo - Part 2
[pdf-embedder url=”https://storage.googleapis.com/members-portal-bucket/uploads/2020/07/Research-Report-Reserve-Celo-Part...-2-5-31-2020.pdf” title=”Research Report – Reserve & Celo – Part 2 – 5 31 2020″]...
1 Min
DeFi
May 2020
Layer 2s: Betamax vs VHS?
2 in preparation for our upcoming layer 2 report....In the weeks since we’ve talked to most of the leading layer 2 teams and DeFi projects such as ZkSync...2 solution....2 platform....Alternatively if the migration of leading layer 1 projects to layer 2 does not quite happen, then this...
6 Min
ZK-Rollups
Nov 2020
zkVerify: The Missing Layer in The Modular Era
Groth16 proofs cost around 200k-300k gas (roughly $20 at 30 gwei and $3k ETH)....Active users peaked at 7.6M in March last year, up from just ~2.5M in April 2023. ...Infrastructure (Infra) providing the foundational technology and tools that use zero-knowledge, and  (2)...
15 Min
Infrastructure
Aug 2025
zkVerify: Building the Universal Proof Layer
Ethereum experimented with zk-SNARK precompiles as far back as 2017, but the costs and limitations meant...on mainnet). zkVerify also has an estimated proof pipeline of ~250M+ proofs projected over the coming..., 2025 The main component here is the token burn mechanism....*In the following diagram we assume a hypothetical 20% burn rate on fees collected.
23 Min
Infrastructure
Nov 2025
Intuition Protocol: Building the Internet’s Trust Layer
By 2028, it’s estimated that AI-driven search will surpass traditional search entirely....This creates a valuable layer of social capital and reputation....The answer lies in the application layer....With lower switching costs and a shared data layer, innovation moves faster. ...in one month alone, from February to March 2025.
26 Min
Infrastructure
Sep 2025
Valuing Layer 1s - Memes, Money, or More?
For some context, Flashbots clocked Ethereum MEV in the ballpark of $500mm in 2021....Prior to the Columbus-5 upgrade in late 2021, a portion of LUNA used to mint UST was sent to a community...It also assumes that every subnet validator is a completely new AVAX validator (i.e., causing 2000 AVAX...As a result, no 2000 AVAX new buy pressure. ...
30 Min
Proof-of-Stake
Apr 2022
Is Fuel The Best Modular Execution Layer?
You may have heard the Fuel pitch; the fastest modular execution layer ever. Bold claim....A core pillar of modular execution layers is to be verifiable....It has been live on Ethereum mainnet since 2020 and to date is still the only rollup with fraud proofs...Rollups scale Ethereum in 2 major ways; They push state (and execution) off-chain; ie. move it from...
16 Min
Layer 1 / L1
Jul 2022
Axie Part 2 - Gamer Economics
SLP supply peaked at 584mil on 29th May and had a short period of deflation....On 28th June it stood at 484mil, a 100mil(-17%) supply decrease in 30 days....Small Love Potion (SLP) has seen a significant growth in price of +712% YTD as of June 28th....Axie floor prices increased from 0.03 ETH to around ~0.066 ETH, and MEO 2 Axie prices rose from 0.084...
9 Min
Games
Jul 2021
Finding the Fun in Fundamentals #2 - Wemade
After two decades of building titles in the genre and now experimenting with how web3 layers can enhance...What began as a simple one-token system quickly evolved into a multi-layered structure designed to regulate...DRACO, tied to player mining activity, served as the base layer of tokenized value; however, over time...
18 Min
Gaming
Jun 2025
ATOM Outperforms Major Layer-1s Amid Market Drawdown
, major layer-1s are still battered....When compared to their previous ATHs in November 2021, the majority of layer-1 tokens are deep in negative...— Haym (@SalomonCrypto) Sept 27, 2022 Overview of Mars Protocol v2 1/ BREAKING: MARS V.2 Whitepaper...🧵👇 — 🉐 Emperor Osmo🧪(Hathor Nodes) (@Flowslikeosmo) Sept 26, 2022...
4 Min
Layer 1 / L1
Sep 2022
WTF Is Anoma? Part 2: WTF Are Intent-Based Apps?
Part 2 – Applications In Part 1 we have overviewed Anoma’s intents and seen how they compare to Ethereum-style...“Part 2: WTF are intent-based apps?”...has 2 sections; First, we take a look at some existing intent-based apps across various verticals that...It has 2 modes of operation; fast and slow....the on-chain settlement layer. ...
24 Min
Layer 1 / L1
Sep 2023
Coordination, Public Goods and Crypto (Part 2)
...century, yet the amounts of money raised to acquire these seats have gone up astronomically to $1.2B in 2017...
11 Min
Asset Management
Nov 2020
Coordination, Public Goods and Crypto (Part 2)
...century, yet the amounts of money raised to acquire these seats have gone up astronomically to $1.2B in 2017...
11 Min
Asset Management
Nov 2020
ZKsync: Building a Trustworthy Settlement Layer for Institutional and Sovereign Finance
Chains remain native and fully fungible, as they are securely locked within the same shared contract on Layer...In institutional finance, a ZKsync Chain’s deployment through Project Guardian and the DAMA 2 protocol...The use of multi-layer architecture enables public-permissioned transactions. ...The economic layer is also catching up.
18 Min
Infrastructure
Dec 2025
Top Performing Layer Ones, Market Metrics, and Axie's Sharp Growth
Top Performing Chains Polygon (MATIC), Solana (SOL), and Fantom (FTM) are the three best performing Layer...1 smart contracts platforms in 2021 so far....and Mar. 2021, and earned a whopping $8.5 mn in fees from Mar. to Jun. 2021....Math has been around for thousands of years. 2+2 will equal 4, and it will for another thousand years...
4 Min
Infrastructure
Jun 2021