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Author: Chen Jian Source: X, @jason_chen998
Ethereum’s first general secretary Vitalik has pointed out the direction for the future development of the market.In fact, this tweet is still very interesting, and it contains a lot of exploratory information, including an exploration of Ethereum L1 and L2 economic models and asset pricing models.
The first reason is that @loi_luu raised a question that everyone criticized Ethereum: “L2 points left Ethereum’s transaction volume, but did not pay enough fees to Ethereum.”After the 4844 upgrade, L2 paid Ethereum DA fees in the Blob. Although L2 is cheaper, Ethereum’s revenue has dropped sharply compared to the previous one. Loi and I were wondering whether we could pay a fixed payment like L3 to L2.A proportion of Gas fees is taxed. For example, if you want to issue a Layer3 on Arbtrium, each transaction income must be fixed to Arbtrium by 10%.
Vitalik’s reply is that at present, L1 cannot accurately measure the actual cost of L2 execution at the protocol level. Similarly, L2 such as Arbtrium cannot accurately measure the cost of L3. @stonecoldpat0 from Arbtrium also replied that this is true.Smart contracts in some agreements can be automatically charged, but they cannot do all of them. Therefore, the so-called 10% tax is just a gentleman agreement, and L3 must keep its promises.
So Vitalik feels that it is too difficult to implement the change of Ethereum at the protocol level to force L2 to pay taxes for each fee. He thinks that it can be a neutral proof aggregation layer across all Layer2s, and this layer is responsible for all L2s toL1 remittance work.
If Vitalik’s proposal is established, Ethereum will charge L2s a considerable transaction tax in addition to the original DA security fee. Whether L2s agree or not, at least this will be true for Ethereum’s economic model.A strong boost is strongly recommended that General Secretary Vitalik personally direct and deploy it and implement it as soon as possible!
In addition, if you look at it this way, perhaps Eigenlayer or Based Rollup represented by @puffer_finance is more suitable for this task of connecting the tax intermediate layers of L1 and Layer2?
In addition, Vitalik mentioned an interesting asset price game model, Hamberg Tax. The reason mentioned is that if you try to impose a mandatory tax, it will lead to many ways for people to evade taxes, such as lowering the asset price to evade taxes.Vitalik mentioned a theoretical model that he thought was very valuable, but this still does not apply to the L2 and L1 tax issues discussed above. It was just that Vitalik mentioned in order to bring goods to his own son ENS. He saidHe repeatedly suggested that ENS adopt the Hamberg tax model.
Hamberg tax is very interesting. It is a free market game model proposed by Arnold Hamberg, an economist in the last century. It hopes to realize taxes by levying taxes based on the independent quotation of asset owners.What does it mean to maximize the liquidity of assets?Give an example.
For example, now you have a house market with a fair value of 100 million yuan, and the government can charge you 2 million yuan based on a 2% tax. At this time, if you feel that paying too much tax, you can price the house in various ways.The report is low and has not been sold, thus paying less taxes, thus forming an asset monopoly, reducing market liquidity while not paying enough taxes. Hamberg believes that it is reasonable for everyone to have the right to price their assets, butSince you have quoted, you must accept other people’s purchases. The core concept of Hamberg tax is that everyone must quote the assets they hold and pay taxes according to your quote. If others accept your quote,You have to sell it to him.
In the Haberg tax model, a game model of asset holders, buyers, quotes, and taxes will be formed. For example, if you have a house and you think it is worth 100 million yuan, then you report it according to this price and pay it.Tax, if you quote 10 million in order to pay less tax, then when someone pays 10 million in your house, you must accept the forced sale of it. It seems that you pay less tax, but you bear the low-priced assets.Loss, if you think that although the market price of this house is 100 million, you are unwilling to move here for generations, and you will be fine if you report 1 billion in order not to be sold, but you need to pay taxes of 1 billion.It’s OK if you think the extra tax is worth avoiding being bought.
In short, as an asset holder, you will consider your own situation very carefully and carefully price the assets, and refine the granularity of the entire social and economic game to specific people, so as to ensure that the price of each asset is critical and most effective.The circulation range and taxation can also be reasonably maximized.
The Haberg tax will inevitably not work in the real world, but there will be no problems in the blockchain. This is just a work of automatically executing smart contracts. For example, @orb_land is a typical case, and it is alsoVitalik liked it. You can buy the expert time on it. Each time is an NFT, but you must set a selling price when purchasing, otherwise the purchase will not be completed, and the system will follow your settings.Tax prices, such as when you buy Musk’s share, you must set a premium that can accept taxes but not make less money, so Vitalik has been urging ENS to upgrade to HambergTax, if the ultimate and beautiful RWA vision such as real estate and other industries are realized in the future, the Hamberg Tax is still expected to be fully implemented.
