- Layer 2s acquire $ETH for their treasury.

- The treasury is owned by L2 token holders, such as $ARB or $OP.

- L2 tokens are sold for $ETH until assets under management align with the L2 token market cap.

- L2 tokens become investible.

Implementing a strategy playbook for L2s is a smart move :)

Problem 1: L2s don't generate enough fees to buy back enough $ETH, but selling L2 tokens works.

Problem 2: Can token holders efficiently manage the $ETH treasury within a DAO model?

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