Andre Chronje, founding father of Sonic Labs and referred to as “Defi Godfather”, has criticized the options of Ethereum L2 for its administration of income and potential misalignment with the decentralized ideas of Ethereum.
Be l2. Have a centralized sequencer. Generate $ 120 million in charges. Pay Ethereum $ 10 million of that quantity for Da & Safety. Dump $ 110 million for revenue. Be “Aligned Ethereum.”
I don’t perceive how ethereal are satisfied with these psychological gymnastics.
L2 are why Ethereum is … pic.twitter.com/edolposdah
– Andre Chronje (@andrecunations) February 8, 2025
“I do not perceive how ethereal are satisfied with these psychological gymnastics. L2 are why Ethereum is inflationary once more. “
Base, Ethereum L2 of Coinbase, responded to criticism by way of its protagonist of technique, Kabir.
“The bottom is and can proceed to develop Ethereum. We’re investing all our income and assets to do that. Base and Coinbase have greater than 100,000 ETH, greater than $ 300 million, which makes it the very best possession of any public firm right now, ”Kabir wrote.
This narrative is solely not true, listed here are the info:
The bottom is and can proceed to develop Ethereum. We’re investing all our income and assets to do that and we now have handed hundreds of thousands of recent folks in 1.5 years.
Base and Coinbase have and proceed … pic.twitter.com/vr3baahic
– Kabir | kabir.base.eth (@kabir_base) February 9, 2025
The controversy focuses on two visions on competitors for Ethereum’s scalability.
Critics argue that L2 generate substantial revenue whereas returning just one fraction to Ethereum for the provision and security of knowledge.
Defenders of decentralized scalability, together with chronje, advocate bettering the Ethereum base layer straight utilizing options similar to Sonic to scale back dependence on L2 exterior suppliers.
Julio Moreno, Chief of Analysis of Cryptoquant, mentioned that Ethereum’s provide has now exceeded the degrees previous to the merger (September 2022), confirming the return of the community to inflation.
The ETH provide is now increased than earlier than the merger.
9 months in the past we printed an evaluation of why this might be the case.Try. https://t.co/q9z9wfjzbs
– Julio Moreno (@jjcoreno) February 7, 2025
To handle the inefficiencies of Ethereum L2 options, Andre Chronje has proposed to make the most of Sonic expertise to keep away from the constraints of centralized fashions.
