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DeFi researcher Ignas stated that Robinhood previously set a record of over $6 million in daily transaction fees, with about 10% flowing to Arbitrum, while the revenue ultimately distributed to Ethereum L1 was "pitifully small."Ignas believes that this model may not be entirely unacceptable. Just as Uber initially used subsidies to achieve growth, Ethereum might attract traditional financial businesses into its ecosystem through L2 and gradually increase "rent" after a high conversion cost is established in the ecosystem. However, if Ethereum developers can formulate a clear strategy to first attract more L2 and then monetize once the conversion costs are sufficiently high, this could actually become a favorable long-term business model for L1. Yet, there is currently no clear strategy seen in Ethereum's roadmap, and he questioned, "Am I misunderstanding?"

Renowned Ethereum builder and investor Ryan Berckmans posted on X, stating that the idea that Robinhood "gives back very little to ETH" is nonsense. They pay on-chain users and new ETH holders, conduct marketing, attract new enterprise clients envious of Robinhood's success, and help mature L1 hubs radiate to L2. Half of Robinhood's active users come from other places in Ethereum and exert healthy competitive pressure on Base.He mentioned that Ethereum alignment is a real concept, but it is not portrayed as income maximization by Ethereum opponents. Helping to grow Ethereum and ETH is alignment, while threatening Ethereum or ETH is misalignment, such as during Lido's dominance. Robinhood is one of the most Ethereum-aligned entities globally. Buying large amounts of ETH or not selling order fees would be better, but this is just icing on the cake of an already huge pie.We do not rely on Robinhood to buy ETH to win. The next batch of Tom Lee will buy ETH, Wall Street Tom Lee, corporate Tom Lee, government Tom Lee, family office Tom Lee, sovereign wealth Tom Lee will be everywhere. ETH will reach trillions in value storage as Ethereum goes global. The two major indicators measuring the progress of value storage are L1 application capital and the number of sufficiently successful L2s, and Robinhood helps grow the latter. We like Robinhood as it is now.

According to Defillama data, in the past day, on-chain funds have significantly concentrated on the Ethereum mainnet and a few established Layer 1s. Ethereum saw a net inflow of $46.47 million, approximately 4.5 times that of the second place Solana; on the other hand, Robinhood Chain, Arbitrum, Hyperliquid, and others experienced a total net outflow of over $100 million, reflecting a "rebalancing of funds back to Ethereum and withdrawal from Layer 2." Robinhood Chain became the largest net outflow entity of the day.This brokerage Layer 2, which launched in July 2026 and is based on Arbitrum Orbit, has seen high trading volumes in meme and tokenized stocks over the past two months, with on-chain transaction fees at one point surpassing those of Ethereum, Solana, and Base; however, daily bridging funds have now turned into a net outflow. Arbitrum, Base, and Polygon all turned red, with the four major Layer 2s (including Robinhood) experiencing a total net outflow of approximately $69.55 million. The perpetual contract public chain Hyperliquid had a net outflow of $18.34 million, nearly on par with Arbitrum. The new chain for stablecoin settlements is also bleeding: Tether's Plasma saw an outflow of $13.27 million, while Tempo, incubated by Stripe, and Stable from the Tether ecosystem experienced outflows of $3.45 million and $2.99 million, respectively.

According to CryptoSlate, the Ethereum Layer 2 network Silicon announced that it has stopped accepting new bridging deposits as of September 2 and has initiated the shutdown process. Users must withdraw all assets by December 31, after which the network and block explorer will go offline, and remaining assets will be unrecoverable.There are still approximately $9.75 million in assets on-chain, including USDC ($2.66 million), WBTC ($2.54 million), ETH ($2.08 million), and USDT ($1.85 million). Assets bridged from the Ethereum mainnet can be directly withdrawn during the window period, but tokens issued directly on Silicon cannot be bridged directly and can only rely on the remaining on-chain liquidity for exchange, which may become increasingly difficult as the shutdown progresses. Silicon's Web3 wallet will also be deactivated.

ARK Invest researcher Lorenzo Valente compares Ethereum, Solana, and Hyperliquid to McDonald's, Chipotle, and In-N-Out, respectively, believing that the three are not different versions of the same L1 business model, but rather have completely different value capture structures.Valente believes that Ethereum is similar to a franchise system, expanding through L2 but charging too little on the settlement layer, even claiming it has established the most successful franchise system in crypto, yet forgot to send the bill; Solana resembles a direct sales model, retaining more value within its own system through transaction fees, priority fees, and MEV; Hyperliquid relies on highly vertical integration, no VC, and fee buybacks of HYPE, possessing the shortest value capture chain, but facing risks of a more concentrated product, team, and revenue sources.

HyperliquidNews posted on platform X: Kinetiq announced the launch of Elysium L2 based on Hyperliquid.

The long-established public chain Gnosis Chain's proposal GIP-153 to transform from a sovereign independent L1 to a highly aligned Ethereum L2 has officially been approved. On the eve of the voting deadline, several official affiliated addresses, including Gnosis co-founder StefanDGeorge, concentrated their votes in favor, successfully meeting the quorum requirement. This proposal was jointly initiated by Gnosis founder tw_tter and core members, aiming to free Gnosis Chain from the traditional PoS L1's insufficient security and inflation subsidy drawbacks, directly inheriting the security of Ethereum validators, and becoming the first to achieve synchronous composability as an Ethereum L2.

According to Cointelegraph, Nansen's CEO Alex Svanevik stated in a recent interview that Robinhood is unlikely to launch a token, as this could create competition with its publicly traded stock HOOD.Alex Svanevik pointed out that the Layer 2 network currently launched by Robinhood is already operating based on the Ethereum ecosystem and has a Gas token for paying network fees, so there is no need to issue an additional platform token. He believes that the core purpose of Robinhood's layout of blockchain infrastructure is to enhance product capabilities using blockchain technology, rather than financing through token issuance or building a new economic model.Previously, the market speculated that Robinhood might follow some crypto projects to launch an ecosystem token, but it seems that the company is more likely to use blockchain as an underlying technological tool rather than building a business system around tokens.

Chairman of Bitmine, Tom Lee, posted on the X platform stating that Ethereum is expected to become the most widely used settlement layer for finance and AI agents, "ETH is the on-chain currency."In addition, in the interview content he shared, Tom Lee also responded to the market's concern that Ethereum is being eroded by Layer 2. He expressed disagreement and pointed out that although Layer 2 networks have attracted tens of millions of real-world users into the on-chain ecosystem, the Ethereum mainnet is still further consolidating its position as the primary economic settlement center, with the Fast Confirmation mechanism able to reduce transfer friction by about 98%.

According to Coindesk, Bernstein stated in a research report released on Monday that Robinhood's newly launched blockchain, Robinhood Chain, has performed strongly since its launch, quickly becoming one of the most active networks for decentralized trading.The report noted that since the mainnet went live on July 1, the DEX trading volume on Robinhood Chain reached $3.1 billion in the past week, ranking it among the top five chains by DEX activity. Currently, over 65,000 users hold approximately $13 million in tokenized stocks and $300 million in stablecoins on the chain.Bernstein believes that the early adoption of Robinhood Chain highlights the accelerated integration of tokenized real-world assets with the broader DeFi ecosystem. The network is built on Arbitrum, an Ethereum Layer 2, supporting Robinhood's tokenized stock products, providing 24/7 trading, self-custody, as well as on-chain use cases such as lending and collateralization, and has integrated with partners like Uniswap, Morpho, Lighter, Chainlink, and BitGo.The report also stated that although the current early trading volume is primarily driven by meme coins, Robinhood is expected to focus more on tokenized stocks, commodities, and other RWA assets, as well as perpetual contract business in the future.

Offchain Labs co-founder Steven Goldfeder posted on the X platform that as enterprise adoption accelerates, Arbitrum is ready to capture revenue. 10% of the fees collected by Robinhood Chain and all other Arbitrum L2s will flow into the Arbitrum ecosystem—8% will go into a treasury controlled by token holders, and 2% will be used to fund development.100% of the fees collected on Arbitrum One will be allocated to the Arbitrum treasury. According to previous reports, Robinhood Chain is an Ethereum Layer 2 network built on the Arbitrum tech stack.

The Bitcoin Layer2 network Botanix announced that it will gradually shut down, and users need to withdraw Bitcoin and other assets before July 9. The team summarized several lessons: the current market demand for Bitcoin programmability is not yet mature; token issuance strategies generally perform poorly; most DeFi users prefer the WBTC solution on Ethereum; on-chain economics is concentrating towards centralized platforms like Hyperliquid and Robinhood; users mainly use Bitcoin for value storage rather than high-frequency trading, making it difficult for network fee revenue to cover infrastructure costs.Botanix stated that rather than continuing to invest without generating new insights, it is better to stop while there are still resources. After July 9, the remaining Bitcoin will be uniformly reclaimed by the validators of the Botanix network's Federation, and other assets will be unrecoverable.

StarkWare announced on the X platform that the Starknet v0.14.3 version will go live on the mainnet this month, with the testnet launch scheduled for June 9 and the mainnet launch scheduled for June 22. The new version will support dynamic L2 Gas base fee adjustments based on STRK, improve block generation speed, reduce the target L2 Gas consumption per block while keeping the maximum block size unchanged, and deprecate RPC 0.8.Due to the significant changes included in this update, the official recommends that all developers carefully read the pre-release notes to prepare for compatibility and upgrades.

Lighter officially stated on X that it has completed the escape mechanism verification conducted by the third party L2BEAT, which means that even if the sequencer at the L2 level fails, users can withdraw funds from Lighter's L2 back to Ethereum in a permissionless manner. It is the first L2 Perp DEX in the industry to achieve this functionality.

Kelp announced on platform X that the rsETH protocol has fully resumed normal operation, and the related functions have been re-launched on the mainnet and all Layer 2 networks, with the overall system status restored to normal levels. The rsETH exchange rate has been updated, accounting for all staking reward earnings accumulated during the suspension period. Meanwhile, EIGEN rewards are now open for distribution to rsETH holders, covering the entire suspension period.In addition, the deposit and withdrawal functions have been restored on the mainnet and Layer 2 networks, and the rsETH asset support status has been fully restored to 100% backing. The official emphasized that the current rsETH has achieved complete and sufficient support on the mainnet and L2 networks, and all operational processes have returned to normal.

Aave stated that the first batch of rsETH has been transferred to LayerZero's OFT adapter, and cross-chain operations for rsETH between the mainnet and various L2s have been reopened.This progress means that the previously affected rsETH cross-chain channels have been restored for use, covering the Ethereum mainnet and L2 networks.

The gaming public chain Ronin announced that it will migrate to Ethereum Layer 2 on May 12, during which there will be an approximately 10-hour downtime for on-chain operations. Normal operations will resume after the migration is completed, and its underlying architecture will be built on the OP Stack, with EigenDA integrated as the data availability layer.It is recommended that users unstake RON before the migration date, or the system will automatically unstake for users after the migration is completed. The core goal of this migration is to allow Ronin to leverage Ethereum's security, data availability, and finality capabilities, while injecting mature on-chain gaming infrastructure into the Ethereum ecosystem. As the underlying network for well-known on-chain games like Axie Infinity and Pixels, this move is seen as an important milestone in its ecological development.After the migration is completed, the annual inflation rate of RON will be reduced from over 20% to below 1%, and the treasury will gain continuous income from staking, Sequencer net revenue, and Marketplace fees (which will increase from 0.5% to 1.25%).