dYdX already does complex DeFi derivative trades for $0.10 - effectively zero-gas abstracted from the user - and reducing more as activity ramps up. The first smart contract rollups - Arbitrum One & Optimistic Ethereum - are early MVPs with many missing features & optimizations.
With Nitro & OVM 2.0, both are seeing significant upgrades soon (OVM 2.0 in 2 weeks). As data compression systems come online, we'll gradually see ~10x further reduction in costs. Of course, StarkNet promises even lower costs - see dYdX as evidence - and alpha releases in Nov.
With the execution layer modularized, the final piece of the puzzle of modularizing data availability. Validiums & volitions are already doing this with <$0.01 fees possible today w/ scale. Rollups leveraging Ethereum will do the same when data sharding releases.
This is not just about Arbitrum, Ethereum or StarkNet - I bet every monolithic chain (i.e. all "L1s") worth their salt is scrambling to modularize in some way, with some of the brightest new minds joining the space like Scroll going to zkRs straight, skipping monolithic entirely
Finally, while monolithic chains are technologically obsolete, technological obsolescence does not mean irrelevance. Plenty of bad tech will continue to be successful through other means like marketing, memes & shilling. There's a short window till the modular world dominates.
EVM execution environment on WASM. Hmm, wonder where I have seen this before? There's limitless creativity possible with rollups - VMs, programming languages, proving solutions, fee models, token/governance innovation, internal sharding, etc. etc. More so than monolithic chains.
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