Is that actually in the plans?

Well there's a reason I keep mentioning "FXS is like the L1 token of the Frax economy" right?

I’ve seen that but I thought it was just an analogy 😂

It's currently just an analogy. But...not always going to be just an analogy.

What's interesting to me is that a decade+ in, we still haven't solved Satoshi's original proposal for a P2P Electronic Payment system. We can look at systems like BTC, Ethereum, Monero, Nano and Stables and see that there are multiple pieces that solve for fungibility, composability, usability (mobile light clients), privacy, stable unit of account, and no-fees, but nothing that does it all. I think that where there is room for Frax is in being able to build/use a zk privacy layer where transactions are subsidized by yield (eg, how tradfi payment systems like Paypal or Square work) with cash-like fungibility/privacy. All the pieces are there, AFAIK no stable is tackling it (most that aren't decentralized can't risk it even) and it's ultimately a multi-T$ TAM

For L1 vs L2, honestly, I think it's fine to offload to consensus security cost to the Ethereum layer - it's the only L1 that's modeled to be economically sustainable long-term and the pricing for an L2 is dirt cheap now and going down even more w/ calldata compression (has anyone noticed that Arbitrum is already significantly cheaper than Avalanche? (I use GMX on both and it's like 5X cheaper now and Nitro hasn't even launched) - Optimism txs are now as cheap as Polygon, almost always around $0.01/tx)). At these prices you don't even need to run a validium.

Mobile wallets like Argent and Rainbow have direct L2 support and fiat rail support (too bad Dharma got acquired by OpenSea, their wallet was slick too) and would be a no-brainer to partner for easy integration. The only missing piece would be to integrate a privacy relayer (you could use an out-of-band relayer network like Railgun's approach, or look into working w Polygon Nightfall or Aztec to finish up the privacy part) - Nightfall basically does the OR+ZK privacy on ETH, Aztec 2.0 will have contract execution but the zk.money part already runs

What about Mina protocol? It’s a ZK-proof L1 that will allow ethereum projects to use their bridge for privacy purposes

Worth exploring, I like their tiny zkproof approach but they have extremely limited TPS atm is my understanding, since you need to snarker every tx yourself. A tiny "blockchain" doesn't matter if there's no mobiles clients though, and if endusers aren't validating, not much point of that anyway?

Yeah the TPS is low while they’re building the zkapps and bridge. They’ll be introducing roll ups and other solutions soon. They said it’s an easy fix, just lower on the importance list

I think you're getting a few things wrong. 1) Avalanche on average actually *does* have roughly the same volume as Ethereum. Over the past week Avalanche C-Chain did 10.4tps, Ethereum mainnet did 12.7tps. https://ethtps.info/ - https://l2fees.info/ says that a simple ETH transfer is currently $2.04, a check on snowtrace shows that it's currently $0.08 on Avalanche. But also 2) for equivalent transactions like these two GMX compounds that each cost about 600K gas, it currently costs $2.59 on Avalanche https://snowtrace.io/tx/0xb631389fcd53df26c8f9880530d876e547ad77be1bd255b17e2bc5f697ee9f19 vs $0.51 on Arbitrum https://arbiscan.io/tx/0x93698b0e6dd8e2c98c9cf74f11652d44052ecf881a74f8243128d108b72b92b0 so it's already cheaper on L2. I'm not sure what you're trying to argue here if you re-read what I actually posted, but uh, to summarize the current facts: Avalanche has as much volume as Ethereum *now*. Avalanche is still cheaper than Ethereum by about 25X at this same volume (on a weekly average Ethereum is about 13X on fees https://cryptofees.info/), but it is also already about 5X more expensive than Arbitrum L2 (which basically is the most expensive of Ethereum's general purpose L2s). Arbitrum will get even cheaper with more transactions, when Nitro goes live on mainnet (3x better calldata compression with brotli), and eventually, EIP-4488. Avalanche burn btw needs to increase by about 5X to be deflationary. I guess we'll see how that translates to base fees on C-Chain w subnets rolling out... https://twitter.com/kevinsekniqi/status/1515014794801258497

it is misleading to compare Ethereum L1 to $AVAX as L1 is not built for users to use but for protocols to use. Just like laughing train track won't let ppl run faster, f*k ppl should ride on train not walking on track. Thats how $AVAX rug ppl, why can't you giving some comparison data btw L2 & $AVAX

I don't really see much point in continuing discussion on this topic, but as someone that has been closely following Ethereum since before launch, I can only shake my head the stories people make up for themselves. It hasn't even been 10 years (heck it's only been two years since the congestion became unbearable). Here's Vitalik at the beginning of the year looking back on whether users were supposed to use Ethereum or not (and if it's not meant for users, why are all the Frax end-user contracts on mainnet? Don't let being a maxi rot your brain) https://twitter.com/VitalikButerin/status/1477402773998247944

Does Sam keep telling us $FXS is L1? so swap your $AVAX to $FXS and come back in 10 years

interesting

Aztec zk.money shut down a long time ago

polygon nightfall does not show up in matic product stack .. https://polygon.technology/blog/introducing-polygon-nightfall-mainnet-decentralized-private-transactions-for-enterprise

atztec and nightfall both opensourced and stale any thoughts?

You're referring to a 1.5yr old post I think these privacy solutions are all at risk of shutting down if they received US vc funding As was the case with aztec

DCG invested in railgun though;

I think they'll face a lot of pressure too if they get adoption And dcg on the ropes anyway?