Ignas takes aim at Ethereum's L2 strategy: Robinhood earns $6 million a day, while Ethereum struggles to get a slice

Odaily Planet Daily reported that DeFi researcher Ignas recently criticized Ethereum's L2 strategy on the X platform. He noted that Robinhood previously recorded record-breaking single-day fee revenue exceeding $6 million, while Robinhood's L2 chain paid only about $722 in on-chain fees. However, roughly 10% of the high fee revenue flows to Arbitrum, leaving the portion ultimately distributed to Ethereum L1 "dismally small."

Ignas believes that if Ethereum developers could formulate a clear strategy—first attracting more L2s, then monetizing once their switching costs become sufficiently high—this could actually become a favorable long-term business model for L1. But currently, no such clear strategy is visible in Ethereum's roadmap. Ignas added that just as Uber used subsidies for growth in its early days, Ethereum could similarly attract traditional finance businesses into its ecosystem through L2s, then gradually raise the "rent" once the ecosystem develops high switching costs.