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Uniswap’s Hayden Adams Pitches Ethereum Buying Out Layer 2s and DeFi

The proposal would require a huge ETH mint, causing substantial inflation in ether.
By: Leo Jakobson • January 28, 2025
Uniswap’s Hayden Adams Pitches Ethereum Buying Out Layer 2s and DeFi

Uniswap founder Hayden Adams pitched an idea for Ethereum to buy out top Layer 2 chains and decentralized finance (DeFi) projects to boost Ethereum dominance.

Replying to an X post, the founder of top decentralized exchange Uniswap and CEO of Uniswap Labs said he’d thought about an Ethereum improvement proposal (EIP), “that buys out top DeFI projects and L2s with a one-time ETH inflation for years.”

Essentially, that would mean Ethereum minting a huge amount of ether to pay for the project, causing substantial inflation, driving down the price of ether.

Adams admitted that his proposal is farfetched, saying he hadn’t advocated for it in the past because “it seemed too unlikely,” but added that the idea is exciting and would be “well worth the cost to Ethereum.”

The benefits would be making DeFi and L2s free to use, leaving Ethereum “the only ticker left.”

To make it happen, Adams said, the decentralized autonomous organizations (DAOs) being bought out would have to commit to the plan ahead of time on-chain, so the buyout happens all at once.

Ethereum Unity

His comments came in response to a thread started on Jan. 26 by Offchain Labs co-founder Steven Goldfeder about a discussion two years ago, when L2 chains were really coming into their own.

In a discussion with other founders, Goldfeder said there was agreement that everyone wanted to unify Ethereum, but no one’s white papers looked beyond unifying their own stack. He recalled saying “i​​f everyone limits their efforts to only unifying chains of their own stack, then that is the future we will build.”

In response, Jill Gunter, chief tactics officer of Espresso Systems, which is working on bringing interoperability and decentralization to rollups posted that “the tide is shifting. Top L2 teams are starting to signal Ethereum-wide coordination and neutrality in earnest. Less Superchain, more Ethereum.”

That led to a comment on X from Ethereum community member C-node that they should “form a consortium with all your competitors, and write an EIP that mints ETH to acquire you all.”

And Adams ran with it.

Jake Lynch, an L1D investment partner, didn’t see it as a complete pie-in-the-sky idea. Calling it an “interesting proposal, he said, “I think you would find more support than you would expect.”

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