蓝狐
蓝狐|12月 10, 2025 04:04
After the upgrade of Ethereum Fusaka, due to the adoption of EIP-7918 (the lowest reserve price for blob fees, about 1/16 of the basic execution fee), a guaranteed price mechanism has been established, which many users believe can solve the problem of ETH value capture. Actually, there is still a long way to go. At present, L2 still captures most of the profits, such as base, which obtains over 70% of the proportion and only pays a small amount of blob fees to Ethereum L1. To truly solve this problem and also address the issue of L2 liquidity fragmentation, there are actually solutions available. One of these solutions is Based Rollup, which allows L2 to directly inherit the decentralization, economic security, and vitality of Ethereum L1, rather than creating a centralized sequencer or small validator set. If we add Native Rollup later, it would be even more perfect. Adopting Based Rollup can alleviate the two major issues currently facing the Ethereum ecosystem: liquidity fragmentation and ETH value capture. Currently, most L2 systems use centralized sorters. This allows Sequencer to refuse packaged transactions; L2 shutdown caused by downtime (which has occurred multiple times in history); MEV and profits are monopolized by the L2 team, and ETH cannot capture reasonable value. With Based Rollup, L2 can move towards decentralization. Traditional L2 requires decentralization, such as creating its own fraud/validity proof+decentralized sequencer system, which is very complex. Based Rollup allows L1 proposers to perform transaction sorting, supported by DA+fraud/validity proofs. At the same time, all transactions based on Rollup are sorted within the same L1 block, achieving interoperability across L2 and alleviating liquidity fragmentation issues; The ETH of Ethereum L1 captures reasonable income, and the majority of the sequencer profits of L2 become the income of L1 block builders, which is converted into rewards for ETH stakers. The premise here is that L2 needs to be willing to adopt Based Rollup, and currently, most of them are unwilling to give up the most lucrative part. Now the L2 application chain Reya uses ZK proof to ensure finality and L1 validator/delegation sorting, and a 20% fee for protocol/transaction fees is used to buy back ETH. It is more friendly to the ecosystem feedback of Ethereum L1 than Lighter. If Reya succeeds, more and more L2 application chains will adopt a based Rollup architecture, which will facilitate the capture of ETH value.
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