Ethereum's Challenge: How to Address Value Leakage in the Modular Stack?

By: blockbeats|2025/04/22 13:45:02

Original Author: @shmula
Original Translation: zhouzhou, BlockBeats

Editor's Note: This article discusses Ethereum's role evolution in technologies such as Rollup, L2, and L3. As projects launch their own chains through Rollup as a Service (RaaS), the team's focus gradually shifts to product, users, and tokens, moving away from alignment with Ethereum. The author uses the metaphor of the "abandoned mother" to describe how Ethereum is becoming the "mother" of projects that are diverging from it, with ETH as an asset being diluted in this process. The author poses the question: If Ethereum does not wish to become this kind of "mother," how should it respond to this change?

The following is the original content (slightly rephrased for clarity):

The Ethereum community has spent a lot of time discussing whether Rollup, L2, and L3 have extracted value from Ethereum L1. In the past 24 hours, @ameensol, @haydenzadams, @wmougayar, @siobh_eth, @TrustlessState, and others have been deeply involved in this discussion.

My view is: Any behavior that moves transactions and activities away from Ethereum L1 essentially constitutes a value extraction behavior.

This is not necessarily a bad thing. However, I believe that in the long run, this will indeed affect the asset of ETH.

Let me explain from two perspectives: one is a comparison to Toyota, and the other is a real-world Rollup project I advised.

While working at Toyota, I learned a principle from my lean mentor called Genchi Genbutsu (現地現物), which means "go and see for yourself." Do not rely solely on dashboards or second-hand information; go and experience things firsthand. This concept deeply influenced how I analyze ecosystems like Ethereum.

Genchi Genbutsu teaches you to avoid the abstraction trap.

Data is certainly helpful, but without firsthand real experiences, data is incomplete.

I have been involved in the launch of several Rollup projects and witnessed the same transformation every time. And the interesting part starts here.

Here, I want to introduce a concept: the "Orphaned Mother."

In philosophy, this term refers to disciplines such as physics, mathematics, and economics, which were all originally born out of philosophy.

Philosophy nurtured them, but its "children" grew up and moved away from it, eventually leaving it as an abandoned mother.

With each new Rollup, L2, L3 that emerges, Ethereum gradually transforms into that "abandoned mother."

A few years ago, I provided advice for a Rollup project focused on a specific domain. The team members were all staunch Ethereum believers—I had met them back in 2017 at the ETH San Francisco event.

Initially, they were all idealists.

At that time, they were using Rollup-as-a-Service providers like @gelatonetwork, @alt_layer, @conduitxyz, or @Calderaxyz. These companies were all excellent and served their customers well.

The whole process was very simple and could be done in less than 30 minutes: you would have your own chain.

From that moment on, everything started to change.

After launch, their mindset shifted. They were no longer just builders but had become entrepreneurs.

Their focus turned to product, users, community, and growth. They were fully committed to their own chain and token.

As for staying consistent with Ethereum? It was no longer a top-ten priority.

This is not meant to criticize them but to reflect the reality of the situation.

When you operate your own chain, your mindset changes. You optimize your flywheel, your incentives, your token.

Ethereum became that abandoned mother.

Returning to Genchi Genbutsu—go and see for yourself.

Launch your own Rollup, use a RaaS, try to develop it, issue your own token. Experience it firsthand, and you will notice how your mindset shifts from ETH-maxi to token founder. You will feel this change.

Let me summarize:

(1) Launching your own chain will transition you from an Ethereum-aligned builder to a business owner.

(2) This owner mindset makes ETH optional.

(3) Don't just take my word for it, go verify it yourself.

This is neither good nor bad, it just is. But if Ethereum wants to avoid becoming the "abandoned mother" in a modular stack, it needs to positively embrace this dynamic.

In this model, ETH as an asset will indeed be diluted. The question is: How do we respond?

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