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The creation of multiple L2 projects on Ethereum led to the development of several hubs that could be called full crypto economies. A total of nine chains managed to draw traffic and end-produce profits over the past 12 months.  Ethereum has incubated nine crypto economies in its L2 scaling chains. The projects with the highest activity and the best fee schedule produced $140M in profits for the past 12 months.  L2 chains are turning into viable economies, while balancing the costs, incentives and rent to Ethereum. | Source: Growthepie Despite talks of L2 cannibalizing Ethereum and depriving it of fees, the ecosystems have grown their own culture and specific use cases, diverging into different types of chains. Some give more weight to lending and DEX activity, while others are reserved for gaming.  Linea is setting aside space for NFT trading, while OP Mainnet has become a general utility chain. ZKSync Era is a leader in token-based activity. Arbitrum has the biggest share of cross-chain technologies, as well as general use cases and transfers.  Not all L2 manage to produce fee-generating apps or generate net fees themselves. First-mover advantage, apps, and exchange listings helped some chains get ahead and grab a bigger share of crypto activity. Leaders like Aave and Uniswap are now most active on Arbitrum and Base, due to the much lower cost even with high on-chain traffic.  L2 chains have also tailored their expenses, especially after the initial period of increased subsidies and payments to Ethereum. With lower L1 rents, incentives, and other costs, most of the leading L2 manage to produce gains for the past 12-month period. L2 chains can also vary in their expenses depending on which services they need the most. The biggest expenses include calldata on Ethereum, blob fees where applicable, or using a…

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Filed under: News - @ October 2, 2024 8:27 pm