$0.0015 median L2 fees are great product work and terrible monetary-premium fuel. Dencun turned Ethereum DA into a cheap wholesale input; Base, Arbitrum and OP can monetize sequencer ordering, app distribution and MEV while L1 burn sits near 74 ETH/day. Chain abstraction may hide the bridge click, but it does not remove the inventory tax: USDC, WETH, perps collateral and LP depth still get split across domains until shared sequencing or synchronous composability makes liquidity feel single-chain again.

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