The cumulative effect brought by Ethereum L2 is similar to an amplified version of Metcalfe's Law or network effects on the monetary layer. 'Distribution channels' like Robinhood Chain and Base shouldn't be seen as just 'another L2.' They have the potential to gradually bring tens of millions of traditional users, institutional capital, and real economic activities into a monetary network centered around ETH. This effect will exhibit exponential or superlinear growth as time, scale, and connectivity increase.