Syndicate

Today we’re excited to announce the Metabased Fellowship, an 8-week (paid) program for top researchers and developers to invent new economic mechanisms for community-owned rollups. Apply by Oct 7:

The new internet is community-owned. Congratulations to the Syndicate team on launching Metabased, bringing some of the brightest minds in the industry together to work towards a decentralized future. Check out the article below to learn more about Metabased and its community members: 

We're looking for a Head of Finance to help Syndicate and our partners go to the next level ✨ Apply today: https://lnkd.in/geCpTmfQ

Syndicate is providing the fertile ground on which communities can finally start building their own ecosystems while reaping the benefits of decentralization

Today, we’re excited to announce the launch of Metabased, a growing community of 20+ organizations leading the development and decentralization of the next layer of Ethereum to build a truly community-owned internet. Read more:

Today, we’re sharing our development of a powerful rollup we call “metabased” and a new community-led initiative with the same name. Currently there are no paths for rollups to decentralize their networks to their communities to economically empower them. We're going to solve this. Metabased rollups give networks a viable path to decentralization, economic value creation, and true community ownership. Importantly, metabased rollups are primarily an economic innovation, as they can be designed to maximally align economics with L3s and their communities. As a result, metabased rollups not only provide a path for how Ethereum scales but also decentralizes to deliver on the promise of building a user and community-owned internet. Read more below:

Our team at Syndicate is heads down focused on figuring out some of the harder problems around decentralized sequencing, Layer 3 networks, and interoperability. We are pioneering metabased rollups that give networks a viable path to decentralization, economic value creation, and community ownership. This is the beginning of bringing the good properties of Web3 to developers around the world. Learn more in this blog post https://lnkd.in/gvFZ4_tm

NEW ESSAY: The Hard Problem of Decentralizing L3s For a rollup-centric Ethereum to succeed at scale, L3s need to decentralize to empower their communities with full agency over their network's design, infrastructure, and economics. Decentralizing L3s requires decentralizing the sequencer. This eliminates single points of failure, enhances credible neutrality, and enables greater interoperability. It also offers significant economic benefits, including lower operational costs and new revenue streams. However, implementing decentralized sequencing is complex and costly. Challenges include technical complexity, stakeholder alignment, and the limitations of current monolithic architectures. New infrastructure is needed to enable customizable, sovereign, and interoperable decentralized sequencing at scale. The future of Ethereum depends on solving these challenges. We're exploring solutions to unlock the full potential of rollup-centric scaling while prioritizing community empowerment and economic agency. https://lnkd.in/dkzJJDgN

NEW ESSAY: The Economics of L3s L3s promise 10,000x lower fees, but face major economic hurdles. Our analysis reveals the challenges for L3s to reach profitability, current L3 use cases, and the future pathways to valuable L3 networks. Our analysis shows that L3s struggle to breakevent unless they achieve L2-like transaction volumes (50M+ per month) or keep fees within 3x of L2s. Today, L3s serve as "cost centers" and an economic tool to bootstrap network and app growth. For example, onchain games (ex: Skyoneers, Pirate Nation) can significantly lower operational expenses and improve UX through L3s. On today's L2s, even a moderately popular onchain game or app could cost $5+ million in gas a year. But there are breakthrough economic models on the horizon. Future value will come from priority fees, native gas/staking tokens, and disruptive new models for how L3s are designed/operated that unlock new revenue, markets, structural advantages, and forms of economic agency. While current L3 economics are challenging, they're evolving rapidly. The future will bring novel value creation and capture mechanisms for chain operators, developers, and users alike. Read the full essay: https://lnkd.in/ggTEqx4r

NEW ESSAY: The Opportunities and Challenges of L3s L3s are emerging as the next frontier in scaling Ethereum. At Syndicate, we've worked alongside dozens of teams to pursue that opportunity. Yet there are still many challenges... Today's L3s face: • Centralization risks • Cross-chain interoperability hurdles • Economic sustainability concerns Balancing low fees with profitability will be crucial for L3s' long-term success. New economic approaches and models must emerge. Despite these challenges, L3s represent a powerful tool for addressing important long-term issues related to scalability, customizability, and community ownership. If you're thinking about or building on L3s, let's talk. We're excited to share more about our work in the coming weeks. https://lnkd.in/g_EXeWPK