From di Ashes of Moloch, Ether’s Phoenix don Rise | Layer 2 Review
Dis na Fast Read and Hot Links wey dey talk about di Pipu and Projects wey dey Scale Ethereum
My Pipu,
Layer 2 Summer don show, and Ethereum's scaling solutions still dey catch attention. Months afta di last major L2 airdrop, TVL (Total Value Locked) dey steady for $10 billion. New projects dey launch evri day, and farmers dey ginger work unda di hot sun, as dem dey wait for di next protocol wey go drop one cool, sure token for dia wallets.
But Layer 2s no dey only about DeFi and airdrops. Manifold, one of Mainnet's most popular NFT platforms, recently launch on Optimism, and Polygon still dey attract mainstream consumer brands to its umbrella of platforms.
For di grants mata, voting don start for di Optimism Collective's latest ecosystem grants round. Di Collective go distribute up to 11 million OP tokens to projects as part of Collective Intents, wey go dey supported by Token House Missions. If you dey hold OP tokens, check out di proposals and vote (and abeg, support di one for BanklessDAO!).
For dis tori, we dey go back to wetin fi be di founding manifesto for di Optimism Collective and di siren's song of retroactive public goods funding. For Ether's Phoenix, di Collective explain dia vision for di future, where dem introduce dia guiding principle: Impact=Profit, one clever formula for di idea say pipu suppose get retroactive rewards for dia beneficial work. For dis big vision, solving coordination issues for web3 go lead to beta understanding of how dem fi give incentives for action on di major collective goods problems wey dey for our taim — na di Optimistic Vision wey all of us suppose support.
Contributors: KingIBK, Warrior, Tonytad, jengajojo, thinkDecade, trewkat, HiroKennelly
✅ Action Items
🗳️ Vote on Optimism’s Token House Missions.
🪂 Reason di airdrop Alpha below.
🗺️ Explore L2 quests on Layer3.
🏛 Governance
⭐ Featured Proposals
AIP — 3 [Non-Constitutional] Fund di Arbitrum Grants Framework Proposal Milestone 1
DisruptionJoe, wey be di former Fraud Detection & Defense workstream lead for GitcoinDAO, don gada one team to solve di wahala wey we dey see sometaims wit DAO funding — wey be di centralization of power within Grants Committees. Di proposal get aim to set up several funding mechanisms for di DAO so dem go fit experiment wit, and di hope na to eventually conclude for one sure, pluralistic, and capture-resistant grants strategy for di DAO. Jengajojo, wey be active delegate and part of DAOStewards (na di meta-governance group of BanklessDAO), im talk say "while di proposal still dey under discussion between Arbitrum delegates, if dem implement am, e go be di first serious attempt to solve di grants strategy challenge for DAOs."
🗳️ Active Votes
Optimism
Arbitrum
💬 Proposals wey dey Discussion
Optimism
Arbitrum
Proposal: Temp check — Mission of the Arbitrum DAO [Constitutional]
Proposal: Accelerating Arbitrum — Leveraging Camelot as an Ecosystem Hub To Support Native Builders
Proposal: Activate Support for Account Abstraction Endpoint on One and Nova
Starknet
Polygon
🪂 Airdrop Station
Make we co-grant alongside di Optimism Grants Council. If we help Optimism fund grants, shey e go pay off for dia next airdrop? We no sabi, but na still beta idea to support di Optimism Collective!
Top Chains Check-list na a not airdrop farming guide listing quests wey dey different L2s
Abeg, shey any Zora airdrop dey show? Zora na one decentralized protocol where anybodi fi buy, sell, and create witout permission. E no too tey wey di project announce di launch of dia own network wey dem call ZORA.
📈 Data
Total Value Locked on L2s stand gidigba for $10 billion!
Arbitrum dey maintain dominant TVL lead wit 60% market share!
🔭 Project Watch
Arbitrum
Dem dey track pipu for projects:
Optimism
Top NFT collections:
Which projects pipu dey rush?
Binance sef dey build wit di Optimism Stack!
From di Ashes of Moloch, Ether’s Phoenix don Rise
Author: HiroKennelly
E no too tey before Optimism enta crypto consciousness last year wit im first OP token airdrop and di establishment of di Optimism Collective as playground for digital governance experiments, dem publish one tori wey I call "short but powerful" — Ether’s Phoenix — about building infrastructure wey go support public goods funding. For di tori, dem talk say public-goods-focused building na "mindset: say optimism go win, say beta systems dey possible, and say humankind go receive rewards for dia cooperative revolution."
Di difference wey dey here be say, unlike plenti other profound visions for optimistic future, Optimism dey also provide one way to fund di creation of dis beta world.
Ether’s Phoenix na mix of ancient wisdom, blockchain technology, and di idea say we suppose reward pipu wey don make positive impact wit moni. Di whole thing dey summarized by di Optimism Collective's guiding axiom wey talk say Impact=Profit. For di highest level, e mean say Optimism don build one recursive, retroactive public goods funding model wey dey use di gain from dia blockchain sequencer to reward pipu for di work wey dem don do for before, wey benefit Optimism, di Collective, and Ethereum. For practical terms, e mean say dem dey distribute OP tokens to dos pipu wey dey build tools wey no dey generate revenue for dem, but dem dey veri profitable as public resources.
If you reason am well, Ether’s Phoenix na one test of di thesis wey talk say regenerative cryptoeconomics no just be one funding mechanism for web3 public goods; say na one moto wey fi solve di world's greatest challenges and one attempt to correct acient coordination failures. Ether’s Phoenix dey rise from di ashes of Moloch.
Di Phoenix wey dey Rise
Na Greek mythology make di phoenix famous, and e don symbolize rebirth, di continuous nature of one self-renewing world. For plenti ways, di phoenix na di perfect metaphor for wetin di Optimism Collective dey try achieve — as Ether’s Phoenix don make am clear, di Optimism Collective get one long-term goal to provide infrastructure wey go address humanity long-standing failure to meaningfully manage large-scale coordination challenges, wey range from nuclear weapons and clean air to digital rights and open-source software. But first, we gats start small.
For web3, we dey act like one laboratory to solve di world coordination wahala, to — di way plenti crypto natives dey talk am — finish Moloch, di modern god of coordination failure and ancient god of child sacrifice. Di Optimism Collective believe say di sure way to finish Moloch, to overcome humanity's history of coordination failures, na to center imsef around Impact=Profit as dem dey practice am thru retroactive public goods funding.
Optimism bin run dia first retroactive public goods funding round for 2021, wen dem donate $1 million to about two dozen projects. For dia second round wey happen earlier dis year, dem donate nearly $25 million equivalent OP tokens to 195 participants. For dia third round wey dem plan for later dis year, di Optimism Collective go distribute 30 million OP tokens, wey dia current market value dey around $50 million.
Tell di Awoof Rider make e Waka Comot
One of di major wahala wey dey to solve issues wey require large-scale human coordination na di awoof rider wahala. Because of di nature of collective goods, incentive no dey for pipu wey benefit from collective action to contribute towards di costs of dat action … i.e. since dem dey do am alreadi, why dem go wan pay for am? Optimism solution na to tell awoof riders make dem waka comot as dem go give incentives to builders to solve collective problems thru dis promise of proportional rewards.
Di dream na say make dem build one incentive structure wey go dey very rewarding, wey be say awoof riding go dey against di pesin own self-interest. Imagine trillion-dollar matching pools and worldwide quadratic voting rounds, you go see say dis model fi be di missing piece wey go solve di basic difference of capitalism: how to focus collective effort towards one beneficial purpose as you dey also make moni. Na wetin Impact=Profit dey all about: di idea say dem fi achieve both goals thru one action, and say both of dem dey equally important.
All Of Us Don Turn Summoners
Di vision na say dis type of retroactive funding go enable beta collaboration and e go give incentive for collective action. For plenti ways, optimism, both di concept and di capital-O scaling solution, na Ether's Phoenix; e be wetin dey help to give rise to new forms of coordination. Enabled by Ethereum and scaled by di Optimism Collective, e also be one call for us to summon our own phoenix, to participate for di process of building di future wey we wan see. For Optimism, e start wit using sequencer profits (and 20% of di initial token allocation) to retroactively fund public goods. For members of di Collective, e fi mean say dem go support dis efforts thru di use of Optimism or by building tools and resources wey go help di Collective flourish.
As dis incentive engine continue to dey hot wit di fuel wey dem provide from di growth of di Collective, ether go become di creative phoenix wey our collective dreams go rise on, wey go stretch di wings of optimism as we ride one perpetual updraft, we go dey rise over di remains of Moloch, wey di dying ember dey slowly fade far below.
Anytaim na good taim to become more Optimistic. Make you involve yourself for dia Discord, apply for one job for di Optimism Foundation, or just follow dem for Twitter and help spread di Optimistic Vision.
🔥 L2 Fees and Costs Update
Transaction Fees as of June 30, 2023:
Security Costs as of June 30, 2023:
🗞️ Ecosystem Updates
⛓️ Zero-Knowledge Proofs Are Powering the Next Wave of Innovation in Web3
🆕 Polygon 2.0 Architecture Transforms Polygon Into the Value Layer of the Internet
🔀 Which Optimism Node Is Best? Public vs. Private vs. Self-Hosted
➿ Immutable X (IMX): Layer-2 Scaling for NFTs
⭕ OP Mainnet Successful Migrated to Bedrock
🔒 Validity (ZK) Proofs vs. Fraud Proofs
📈 How the Hunt for Yet-to-Exist Tokens Is Shaping Ethereum’s Layer 2 Landscape
🔮 Ethereum Layer 2 Battle: Matter Labs CEO Explains Why He Thinks ZK-Rollups Will Win
💥 Ethereum Layer 2 Network zkSync Era Jumps to Nearly $250M in Locked Value
🏁 BASE Layer 2 Has Completed Security Testing and Is Ready for Mainnet Launch
🏦 Arbitrum and Optimism: Two Protocols Control 80% of All Ethereum Layer 2 TVL
🤝 Ethereum L2 Network Mantle Partners with Ankr Ahead of Mainnet Launch in Q2 2023
🔊 Ethereum Ecosystem Is Getting Busier, Not Quieter, Amid Layer 2 Shift
🥅 Starknet Part 1: L2 Landscape
📡 Blockchain Scalability and Privacy: The Rollup Ecosystem
🧠 How the Arbitrum Foundation Designed the Distribution Strategy for Their Token Airdrop
🔴 The Optimism Superchain and the Interoperable Future