A brief interpretation of the message about @ RobinhoodApp's plan to build layer 2 on Arbitrum: 1) From a technical perspective, Robinhood's choice to stick to Arbitrarum's Nitro and Coinbase's Optimism's OP Stack technology stack are not much different. But Base's performance has proven a rule: the success of the technology stack does not equal the success of the parent chain. The rise of Base is more of a result of Coinbase's brand effect, compliance resources, and user diversion, which to some extent provides guidance for Robinhood to settle in Arbitrarum. This means that in the short term, it does not prove that ARB's coin price is undervalued (compared to OP's performance), but in the long term, once Robinhood's target of "listing on the US stock market" scenario runs smoothly, it may change the awkward situation of "having technology but not landing" for Layer 2 as an extension of Ethereum Layer 1, and open up an unprecedented massive path for Mass Adoption in the Ethereum ecosystem L1+L2. 2) Is Coinbase focusing more on Layer 2 or a general Layer 2 solution, mainly using transaction oriented scenarios such as DeFi, GameFi, and MEME in the past? Robinhood may be different this time, taking a specialized Layer 2 direction and customizing a suitable on chain infrastructure specifically for traditional finance on chain? Although the transaction confirmation time of OP Rollup can also reach sub second level, the security of such transactions is still within the optimistic Rollup scope of 7-day fraud verification. Robinhood's new Layer2 needs to handle features such as stock T+0 settlement, real-time risk control, and compliance requirements, which may require deep customization at the virtual machine level, consensus mechanism, and data structure of Layer2, fully tapping into the potential of Layer2 expansion solutions. 3) Arbitrum's technical solution has certain maturity compared to Optmism: Nitro's WASM architecture has higher execution efficiency and natural advantages in handling complex financial calculations; Stylus supports the development of high-performance contracts in multiple languages and can handle some heavy computing tasks of traditional finance; BoLD solves malicious delay attacks and consolidates the security of optimistic verification; Orbit supports customized Layer 3 deployment and provides sufficient flexibility for development features. You see, if Arbitrarum can be selected, there must be a reason for it. Its technological advantages seem to fit the strict "customization" requirements of traditional finance for infrastructure, unlike OP Stack, which only needs to be able to run smoothly. This is also very Make Sense, after all, in the face of the ultimate challenge of carrying trillion level TradFi business, the maturity and specialization of technology will determine success or failure. 4) Listing on the US stock market and cryptocurrency exchanges is no longer the traditional "coin issuance narrative and game" commonly used in the cryptocurrency industry. It faces not only "speculative users" who completely disregard the delivery of project products and smooth experience for the sake of speculation, but also users who are familiar with traditional financial product lines who cannot tolerate congestion caused by gas fluctuations in the network and transaction delays. These traditional financial users are familiar with the seamless experience of millisecond response, 7 × 24-hour uninterrupted service, and T+0 seamless settlement. More importantly, behind them are often institutional funds, algorithmic trading, and high-frequency strategies, which have abnormal requirements for system stability and performance. This means that the user base that Robinhood layer 2 will serve will be completely different, and the challenge will be very challenging. above. In short, Robinhood's significance in laying out layer 2 will be significant. It is no longer as simple as adding a new player to the layer2 technology stack, but a hardcore experiment to verify whether Crypto infrastructure can undertake the core business of the modern financial system. Once the experiment is successful, the digital reconstruction of the entire trillion dollar TradFi market, including bonds, futures, insurance, and real estate, will accelerate. Of course, in the long run, it will have a direct positive impact on the application scenarios of the entire Ethereum L1+L2 ecosystem technology infrastructure, and will also redefine the value capture logic of Layer2.