@hoeffligerlaven
At the same time, Layer 2 investment opportunities carry platform risk tied to Ethereum Layer 1’s policy decisions. Changes to fee markets, data availability pricing, or native scaling upgrades can directly impact L2 profitability. This creates a complex competitive relationship: Layer 2s depend on Layer 1 for security and finality, yet compete with it for fees, users, and long-term value capture within the Ethereum ecosystem.