The majority of L2 assets don't inherit Ethereum security even if the L2 is Stage 2. This is a challenge we don't talk enough about in Ethereum. We should face it head on. Below is a compilation of L2 assets compiled by @hazeflow_xyz based on @l2beat data. Only the canonically bridged assets inherit Ethereum security guarantees. That's only 34% of L2 assets. The other 66% rely either on a third-party bridge or the L2 itself. Canonically bridged assets (34%) = Ethereum Third-party bridged assets (38%) = Not Ethereum Natively minted assets (28%) = Not Ethereum In order to inherit Ethereum security the asset must be minted on Ethereum L1 and bridged natively. More canonically bridge assets = L2 is more Ethereum Less canonically bridge assets = L2 is less Ethereum There's an incentive alignment problem here - an L2 may want more natively issued assets in order to maintain a valuable moat. Additionally, there's UX and cost advantages to minting on L2. Based rollups paired with asset issuance on the L1 provide a strong solution to the problem. In the least - asset issuance on L1 should be the strong default. But it's not entirely clear how this gets standardized or if it's practical.(RYAN SΞAN ADAMS - rsa.eth 🦄)