How to view the customizable Gas Token of OP Stack?

Author: Haotian

Recently, there has been much discussion about the future trends of layer 2, and the general direction has already been set by @VitalikButerin: a diversified ecosystem centered around layer 2-Centric (the implication: layer 2 projects need to strive on their own, as Ethereum's "dad" can no longer carry them), and Gas Tokens are the key to supporting the independent economy of layer 2. Next, I will briefly share my views:

1) The ETH token was once seen as the Gas Token for layer 2 and a key factor in determining whether layer 2 had "orthodoxy," relying on the DA capabilities of the Ethereum mainnet. However, the exclusive DA territory has now been breached, and the status of Gas Tokens has also been shaken. Layer 2 is breaking away from the original preset expansion route that was attached to the Ethereum mainnet, becoming a more autonomous, flexible, and more "independent blockchain" route.

The functional separation of DA is due to the OP Stack providing the foundation for "one-click chain deployment," and many cost-sensitive developers will choose DA component services outside of Ethereum; the separation of Gas Tokens is because the Ethereum layer 2 ecosystem has fallen into a "growth stagnation" dilemma, necessitating the bottom-up incentives of a native Token.

2) The first to use a native layer 2 token as a Gas Token was @Metis L2. As a cutting-edge layer 2 project on Ethereum, Metis has always taken an unconventional path, such as implementing decentralized Sequencers, creating hybrid Rollups, and using $METIS as the native Gas Token. Looking back now, these paths taken by Metis seem to be gradually becoming "ordinary."

In fact, based on the current data regarding Metis's mainnet TVL, transaction fees, and DApp application deployments, when the decentralized Sequencer goes live, the LSD Staking mining mechanism is launched, and the LRT re-staking platform emerges, Metis's native DeFi economy shows strong growth momentum.

Clearly, the goals of OP Stack's customizable Gas Token are no different from the path already practiced by Metis, which is based on native Tokens to incentivize the ecosystem, such as subsidizing the operational costs of platform applications, subsidizing user transaction fees, donating or providing grants to incentivize developers to build the ecosystem, etc. These are all advantages that a native Gas Token would have.

3) Many people worry that if layer 2s all use their own Gas Tokens, the application scenarios for ETH will decrease, and the "empowerment" value of layer 2 for the Ethereum mainnet will diminish. However, this concern is largely unnecessary.

Because as long as layer 2 wants to batch transactions to the mainnet, it must use ETH as the settlement token. Only after the economic system of layer 2 is activated, generating a large number of batch transactions and settlement activities, can the Ethereum mainnet truly benefit, rather than simply aiming to consume $ETH as a Gas Token on layer 2. Isn't it more effective to expand the user base and transaction volume and rely on its own Gas Burn for destruction?

From another perspective, allowing native ETH to flow into layer 2 for circulation requires crossing a chain bridge, and users only receive a Wrapped version of ETH. At this point, ETH is difficult to be used as an absolutely credible asset to generate value for lending and other DeFi protocols on layer 2, as it adds a layer of cross-chain trust cost. Users clearly prefer to conduct such DeFi interactions on the mainnet.

However, if the native Gas Token of layer 2 is used as the main medium of circulation, it may not be the case. Like Metis, incentivizing decentralized Sequencers, providing additional subsidies to DeFi projects, and creating a flywheel effect between Sequencer mining and DeFi, etc. No matter how you look at it, creating an independent Gas Token for layer 2 seems to be an inevitable choice to activate the layer 2 ecosystem.

4) Since the Cancun upgrade, Rollup layer 2s have already received support from the Ethereum mainnet "dad." On one hand, the DA costs after the Cancun upgrade have indeed decreased significantly, and the usage load and rates of Blob space are still within controllable limits, with even more potential yet to be tapped; on the other hand, the benefits brought to Rollup by Ethereum's sharding upgrade will be weak, and in the longer term, ZK-SNARKs, Ethereum DAS, and lightweight clients are also unlikely to directly benefit layer 2.

Layer 2 can no longer rely on the expectations of mainnet upgrades to boost their growth prospects. Layer 2s have reached a critical moment where they must fight for all favorable conditions for independent, flexible, and diversified development.

In my view, this is the true purpose of Vitalik's exploration of a diversified layer 2 system. The future Ethereum layer 2 can only become part of the larger Ethereum ecosystem by differentiating its functions and business models and exploring a self-driven growth ecosystem. Relying solely on draining the mainnet and short-term governance token incentives, without any intrinsic growth driving force, the development path of layer 2 is destined to be unsustainable.