Robinhood Chain Made $816K — ETH Only Got $1,538

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Robinhood Chain Made $816K. Ethereum Got $1,538.⁣ ⁣ David Hoffman and Ryan Sean Adams break down the ugly math behind ETH's L2 economics.⁣ ⁣ Robinhood keeps 90% margins. Arbitrum takes 10%. Ethereum gets 0.15% for data availability.⁣ ⁣ “If your thesis is ETH is money, this is bullish.” More collateral, more lendiness, more ETH as the trading pair.⁣ ⁣ But “if your thesis is ETH is a revenue generating asset, this is the ultra bear case.”⁣ ⁣ The uncomfortable truth: “Robinhood was already going to build on Ethereum the whole time, so you haven’t actually won anything.” 🎬⁣ ⁣ #Ethereum #ETH #Robinhood #Layer2 #Crypto #CryptoNews #Arbitrum #Web3 #DeFi #Bankless