Posted on May 26, 2021Read on

Just a Warmup for L2

Things are going to be wild on L2. Much faster, much cheaper — it's like the speed of light will have increased and everything will grow so much faster. Very exciting.

But for the time being, it often feels like we're in a holding pattern until the L2 solutions actually come out.

We'll say, "this is an awesome feature, but it won't work when gas prices are really high. Would be amazing on L2." And it turns out to be true for most features.

There are many things about the L2 world that we really don't know. Some applications might, not work ideally on L2 — like those that really need integration with other protocols.

Mirror features will work really well on L2. Why? Because we have a lot of control over the user experience, and we can abstract some of that UX.

The main problem to solve will be onboarding people into the L2 that we choose to use. That's why it's really important that we pick the best L2 solution for our intended users and use-case.

Choosing an L2 solution is more complicated than it seems. If we do a lot of NFT work on L2, then we probably don't want a large delay when exiting to L1 - because there isn't a fancy way to speed that up using finance bridging like you can with fungible tokens.

We're also very likely to continue to be creative and innovate on the protocol, so we want something that's very expressive.

The problem when trying to make this decision at the moment is that nobody has really shipped yet. zkSync promises something really amazing, but hasn't shipped. Immutable X seems cool, built on Starkware, but isn't out of private beta yet. Optimism and Arbitrum are on the cusp of rolling out, but just haven't yet...

We could deal with this by getting more involved with those projects — having meetings, reviewing code and APIs — and we've done this. But at the end of the day, we don't have complete information until they're on mainnet and people are using them.

So we're in a bit of a holding pattern, waiting to see what makes the most sense for us. And that's weird headspace. We're able to the future, but can't play with it yet.

Some protocols have deployed to Polygon's Matic. That doesn't seem like a good long-term strategy for us, given that we expect many more options are going to exist in a few weeks, and Matic isn't considered the "strong-tech" option.

So anyway. We research and learn and wait, patiently.