_What if
L2 has Curve and crvUSD
Deploy YB
L2 deposits L2 tokens into YB
> Improved liquidity for L2 token on-chain
> Earn fees without IL, fees to buy ETH
> More on-chain liquidity, better params for the L2 token to be used in DeFi (e.g. higher LTV and borrow caps on lending)
- 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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