after all these years, the ethereum community is apparently fine that most users are operating on centralized L2s controlled by single companies or foundations very little value accrual back to ETH holders. most L2s don’t even stake back the ETH they collect in fees! sad!

ethereum L2s in aggregate haven't spent more than 1/1000 of a penny daily to buy blob objects since MAY combined, they spend only $10k/day on gas fees to confirm blobs, while earning $100-400k per day in fee revenue even including running the "chain" that's a nice margin!

coinbase is paying more daily to the Optimism Collective than all L2s combined (including Base) are paying to Ethereum L1 over the last 180 days, base paid $4.4m to OP, while all L2s combined (including base) paid $3.05m to Ethereum L1 (both blobs and gas fees)

coinbase made $14.9m on base revenue (this is fees paid by users of base) in Q2 base's ethereum L1 data costs were $443k in Q2.. but they paid $2.16m to OP in Q2. OP is literally making 4.8x more off base than ethereum is

in Q2, while base extracted $14.9m in fees from base users and only paid back $443k to ethereum L1, coinbase also acquired $247m of BTC for their balance sheet. is coinbase siphoning value from ethereum and using the proceeds to buy bitcoin?