Ethereum’s L2 ecosystem is a thriving market - $32.5B secured, 40+ active rollups, 25M+ daily transactions, and fees down by ~80%. With a more modular stack, choices around sequencing, data availability, and liquidity coordination now decide cost, user experience, and risk.

From Fragments to Fabric, a whitepaper by Demetrios Skalkotos (Chief DeFi & Protocols Officer, Blockdaemon) and the Blockdaemon Data Team, shows where L2 infrastructure is heading and what it means for builders and institutions.