"IOSG: Ethereum Repricing—From Rollup-Centric to 'Security Settlement Layer'" (Authors: Jacob Zhao & Jiawei) The article points out that Ethereum is shifting from a "Rollup-Centric" paradigm to a "Security Settlement Layer": L1 is directly accelerating scalability, while L2 is being redefined as a spectrum of networks with varying levels of trust. The core value of ETH is transitioning from fees and platform growth to "settlement sovereignty + native currency attributes." The valuation framework is being reconstructed into a four-quadrant model: security, monetary attributes, network effects, and revenue floor, dynamically calibrated with macro and institutionalization processes. The current price adjustment is defined as a pricing anchor migration, not a value collapse. Read the full article: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=56775