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The most worth mentioning about the L2 track right now is that the power dynamics have already been established. Base alone has captured about 46.6% of the L2 DeFi TVL share, and in February this year, it announced it would break away from Optimism's OP Stack shared architecture to build its own independent tech stack. This move actually reflects that it has obtained absolute control to dare to do so. On the other hand, most new L2s rely on incentive cycles to boost activity, and once subsidies stop, they basically turn into ghost towns. Only a few can survive through this cycle. My own judgment is that the L2 narrative has shifted from competing on technical routes to competing on who can bind existing distribution channels. Base leverages Coinbase's natural traffic of over 100 million users, which is the real reason it outpaces purely technical L2s, not because its Rollup is significantly better than others. $COIN #从降息到加息，联储分歧全公开 #财报观察员：AMD与SpaceX交卷在即，Circle压轴 #Palantir营收增93%，盘后涨13% $BTC