L2連鎖店吸引了大量的流動性和以太坊的用戶

L2連鎖店吸引了大量的流動性和以太坊的用戶，但就燃燒率而言，它們幾乎沒有為L1鏈做出貢獻。

Liquidity and users have largely flowed into L2 chains from Ethereum, but they are barely contributing to the L1 chain in terms of burn rate. Even the biggest L2 chains are not burning any ETH, adding to the network’s inflation.

流動性和用戶在很大程度上從以太坊流入了L2鏈，但就燃燒率而言，它們幾乎沒有為L1鏈做出貢獻。即使是最大的L2連鎖店也沒有燃燒任何ETH，從而增加了網絡的通貨膨脹。

L2 chains are still running on Ether (ETH) virtually for free. The extremely low gas price conditions and no demand for block fees means the daily burn of ETH has slowed down even more.

L2鏈幾乎可以免費在以太（ETH）上運行。氣體價格條件極低，對收費的需求不高，這意味著ETH的每日燃燒速度降低了更多。

The outflow of revenues for Ethereum is just one of the factors affecting the network. DeFi is also shifting toward L2 and other chains, as Ethereum now carries just 51.3% of all value locked, down from over 53% in the past week. Ethereum carried over 60% of TVL in 2024, starting a trend of outflows from DeFi and DEX activity.

以太坊收入的流出只是影響網絡的因素之一。 Defi也轉向L2和其他連鎖店，因為以太坊現在僅佔所有鎖定價值的51.3％，從過去一周的53％下降。以太坊在2024年載有超過60％的TVL，從而開始了DEFI和DEX活動的流出趨勢。

A handful of L2 have indeed managed to take some of the traffic off Ethereum, but have left the L1 in a weakened state, with all metrics going down in the first quarter of 2024.

確實，少數L2確實設法將一些交通從以太坊中脫穎而出，但使L1處於弱勢狀態，所有指標在2024年第一季度下降。

Ethereum gains even smaller rent payments from L2

以太坊從L2獲取較小的租金支付

During peak times in 2024, L2 chains led to the burn of 261 ETH per day, adding to the extremely low network inflation. In 2025, a total of around 602 ETH gets burned every day, but the blob fee contract is not among the leading gas burners. Blob fees now burn 17.91 ETH in a whole week, as L2s does their best to avoid paying blob fees.

在2024年的高峰時段，L2鏈導致每天燃燒261 ETH，增加了極低的網絡通脹。在2025年，每天總共有大約602張ETH被燒毀，但是Blob Fee合同不在領先的燃氣燃燒器中。 Blob Fee現在在整整一周內燃燒17.91 ETH，因為L2S盡力避免支付斑點費。

Even on busy days, L2 protocols pay only a few thousand dollars to the Ethereum L1, with fees often going down to zero.

即使在忙碌的日子裡，L2協議也僅支付幾千美元才能向以太坊L1支付，費用通常會降至零。

Currently, the busiest network is still Base, with the biggest number of on-chain users and activity. The chain still pays $6.41K on a busy day, with near-zero payments in the past week. Base has more than $109K in daily revenues, most of it retained for the chain’s own validators and app producers. Even Arbitrum paid less than $400 per day for all of its activity, despite being one of the top L2s with the biggest DeFi sector.

當前，最繁忙的網絡仍然是基礎，鏈上用戶和活動數量最多。該連鎖店在繁忙的一天仍支付6.41k美元，過去一周的付款接近零。 Base的每日收入超過10.9萬美元，其中大部分保留了該連鎖店自己的驗證者和應用程序生產商。儘管仲裁是所有活動最大的L2，但每天的所有活動都花了不到400美元的費用。

The low rent from L2 coincides with an ongoing period of low gas fees for Ethereum. Currently, fees are back down at $0.02 for basic transactions, though rising to $0.48 for swaps. Ethereum is still widely used for stablecoins, which have flowed out of Arbitrum. Ethereum is still used to transfer USDT directly, to avoid additional bridging fees.

L2的低租金與以太坊的低汽油費用相吻合。目前，基本交易的費用降低了0.02美元，儘管掉期上漲至0.48美元。以太坊仍然廣泛用於穩定的穩定劑，這些穩定蛋白已經從仲裁中流出。以太坊仍用於直接轉移USDT，以避免額外的橋接費用。

Are L2 cannibalizing Ethereum?

L2蠶食以太坊嗎？

The initial launch of L2 chains led to significant token burns, with up to 10K ETH destroyed per day. The early stage of L2 also led to airdrop point farming, which boosted volumes temporarily.

L2鏈的最初發射導致了大量的令牌燒傷，每天最多可摧毀10K ETH。 L2的早期階段也導致了Airdrop Point農業，這暫時增加了數量。

L2 did manage to achieve cheap transactions, taking some of the volume off Ethereum. However, the chains continued to extract value from end users while paying back as little as possible to Ethereum.

L2確實設法實現了廉價的交易，從以太坊中刪除了一些數量。但是，鏈條繼續從最終用戶中提取價值，同時盡可能少地償還以太坊。

Additionally, years after introducing L2 scaling, most chains are still relatively centralized. Only Arbitrum and Optimism have a Stage 1 status with partially decentralized transaction approval. All other chains rely on a centralized transaction sequencer, which poses risks for attacks or censorship.

此外，在引入L2縮放的幾年後，大多數鏈條仍然相對集中。只有仲裁和樂觀就具有部分分散交易批准的1階段狀態。所有其他連鎖店都依靠集中的交易序列，該序列構成了攻擊或審查制度的風險。

L2 chains are also rarely cross-compatible and require a complex and risky ecosystem of bridging. Most L2 claim they are Ethereum maximalists, but only tap the available liquidity while running as an independent business chain.

L2鏈也很少互相兼容，需要一個複雜且風險的橋接生態系統。大多數L2聲稱它們是以太坊的最大主義者，但僅在作為獨立業務鏈運行時點擊可用的流動性。

Most L2 also have varying use cases, with some specializing in specific forms of DeFi. For now, L2 chains are extremely fragmented and often create cultures and communities widely diverging from the ideas of Ethereum.

大多數L2也具有不同的用例，其中一些專門從事特定形式的Defi。就目前而言，L2連鎖店非常分散，經常創造出與以太坊思想的廣泛不同的文化和社區。

Most of the activity is still concentrated within the top 5 L2 chains, while there is a total of 152 new networks that have the option to post on the Ethereum chain. The different types of L2 include optimistic rollups, ZK rollups, Validium, Optimum chains and legacy chains with no proofs such as Polygon.

大部分活動仍然集中在前5個L2鏈中，而總共有152個新網絡可以選擇在以太坊鏈上發布。不同類型的L2包括樂觀的匯總，ZK匯總，有效的，最佳鍊和遺產鏈，沒有任何證據，例如多邊形。

Legacy chains such as ImmutableX and Polygon are key to the Web3 ecosystem, while newer chains have negligible activity and in some cases, only carry assets worth less than $1,000. The launch of new L2 was often tied to fundraising and token sales, but the past few years showed that demand for those types of chains is still extremely limited.

諸如Immutablex和多邊形之類的傳統連鎖店是Web3生態系統的關鍵，而較新的連鎖店的活動可忽略不計，在某些情況下，僅攜帶價值低於1,000美元的資產。新L2的推出通常與籌款和代幣銷售有關，但過去幾年表明，對這些類型的連鎖店的需求仍然非常有限。

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