I want to invest in the picks-and-shovels of the modular blockchain thesis. What is the best token for a settlement layer?

If your thesis is “modular blockchains win, and I want to own the infrastructure that captures value from all those chains”, my pick for the settlement layer is ETH.

My ranking

1. ETH — best risk-adjusted settlement bet
2. TIA — higher-beta bet on modular infrastructure, but primarily DA rather than settlement
3. BTC — strongest monetary settlement asset, but poor fit for the modular-rollup thesis

The key distinction is that Celestia/TIA is not really the settlement-layer investment. Celestia explicitly positions TIA around paying for blobspace/data availability, staking, and optionally bootstrapping rollups.

Ethereum, by contrast, is explicitly being positioned as the settlement and liquidity layer for a network of L2s. Ethereum's own documentation describes rollups as posting their state/data to Ethereum and using Ethereum for settlement, while the Ethereum Foundation's 2026 strategy calls L1's role a permissionless, resilient hub for settlement, shared state, liquidity and DeFi.

Why I prefer ETH

The modular thesis actually gives you a pretty elegant value chain:

Apps → execution layers/rollups → Ethereum settlement + DA → ETH

Every successful rollup doesn't necessarily compete with Ethereum. It can become another customer of Ethereum's settlement/security infrastructure.

Ethereum is also continuing to increase blob capacity. Fusaka introduced PeerDAS, and the 2026 roadmap calls for further blob scaling and higher L1 capacity.

The important investment mechanism is that ETH is the asset securing the settlement layer and the native asset used to pay Ethereum's fees. EIP-1559 burns the base fee, while validators receive issuance and priority fees. Thus, greater demand for Ethereum blockspace can translate into ETH economic value, although it isn't a simple “more L2s = more ETH burn” equation.

There's another angle I think is underappreciated: settlement is becoming more valuable as the number of execution environments proliferates. You don't necessarily want to own every rollup. You want to own the neutral layer they converge on.

Where TIA fits

I actually like TIA as the more asymmetric modular bet, but I'd classify the thesis differently:

ETH = bet on settlement/security becoming the common denominator. TIA = bet on data availability becoming a massive standalone commodity. Celestia is explicitly designed to specialize in data availability, and TIA is directly required to purchase Celestia blobspace.

That makes TIA potentially more explosive if modular architecture takes off and DA becomes an enormous market. But it also means you're betting that Celestia captures the DA market, rather than merely betting that modular blockchains succeed.

That's a much more competitive proposition.

The crucial investment distinction

I'd think about the stack this way:

So if you force me to pick one token specifically for the “picks and shovels of modular blockchains” thesis, I would pick ETH.

If you told me “I already own ETH and want the higher-risk modular infrastructure satellite,” I'd investigate TIA next.

One caveat: ETH isn't a pure-play modular settlement token. It also carries monetary, DeFi, staking, L1 execution, and broader Ethereum ecosystem exposure. That's actually a feature for me from a risk-adjusted perspective, but it means you shouldn't value it purely on rollup fees.

If you want, I can take this one step further and build a “modular blockchain picks-and-shovels portfolio” of 5–7 tokens, ranking them by value capture, moat, dilution, TAM, and upside/downside rather than just market cap.

In the modular blockchain thesis, the settlement layer is responsible for verifying proofs from execution layers (rollups), resolving disputes, and providing the ultimate economic security and finality root.

While execution happens on Layer 2s and data availability (DA) is often outsourced (e.g., to Celestia), the consensus consensus points heavily to a single dominant "pick-and-shovel" asset for settlement:

The Clear Leader: Ether (ETH) — Ethereum

• The Role: Ethereum remains the undisputed king of settlement. Even as execution fragments across dozens of optimistic and zero-knowledge (ZK) rollups, the vast majority of them natively anchor back to Ethereum to settle state roots and leverage its unmatched economic security.
• The Thesis: In a modular world, Ethereum shifts from a monolithic execution playground to the ultimate decentralized settlement and trust layer. Value accrues to ETH through gas used for proof verification, data posting (pre-blob/blob space), and as the ultimate collateral asset across the modular stack.
• Why it fits "Picks-and-Shovels": No matter which L2 rollup wins the end-user battle (Arbitrum, Optimism, Base, Scroll, etc.), they ultimately pay rent to Ethereum for settlement and security.

Alternative / Niche Settlement Plays

If you look outside of Ethereum's ecosystem for alternative modular settlement frameworks:

• ** Celestia (TIA):** Primarily built as a Data Availability (DA) layer rather than a pure settlement layer, though it plays an instrumental role in the modular infrastructure stack.
• Cosmos Hub (ATOM): Historically used for interchain security and settlement-like properties for app-chains, though value accrual debates for the ATOM token have kept its direct "picks-and-shovels" capture debated compared to ETH.

If you want to narrow this down, let me know:

• Are you looking exclusively at Ethereum-aligned ecosystem tokens , or open to alternative layer-1 frameworks?
• Do you prefer tokens with direct protocol fee burns/yield or governance-heavy utility?

I can dive deeper into valuation metrics or risk profiles for these assets.

In the modular blockchain stack, settlement is the specific layer responsible for verifying proofs (fraud or validity proofs), resolving disputes, and bridging liquidity. While execution happens on rollups/app-chains and data availability (DA) happens on specialized layers like Celestia , the settlement layer acts as the ultimate truth anchor and economic security court.

When looking at the picks-and-shovels thesis for settlement layers , the consensus favorite—and dominant economic powerhouse—is Ethereum (ETH).

The Undisputed Leader: Ethereum ($ETH)

Even as modular execution and DA diverge, Ethereum remains the default, premier settlement layer for the vast majority of Layer 2 rollups (Arbitrum, Optimism, Base, ZKsync).

• Why it fits the thesis: Rollups inherently need a secure environment to settle disputes and post state roots. Ethereum’s massive economic security, decentralization, and network effects make it the primary institutional choice for settlement.
• The Token Value Accrual: ETH captures value through gas fees paid for settlement/data posting, burn mechanisms, and its foundational role as collateral in DeFi liquidity hubs that connect these modular pieces.

Emerging / Alternative Settlement Layers

If you are looking outside of Ethereum for dedicated or specialized modular settlement environments, a few networks and tokens capture portions of this narrative:

• Cellar/Niche & Co-settlement Networks: Projects like Avail (focusing heavily on DA and bridging attribution) or specialized Cosmos chains act as intermediate settlement/routing zones, though many modular ecosystems still default back to Ethereum for hard security settlement.
• Celestia ($TIA) is often mentioned in the modular conversation, but it specializes in Data Availability and Consensus, not heavy settlement. Understanding this distinction is vital for a precise picks-and-shovels allocation:𝑇𝐼𝐴𝑝𝑙𝑎𝑦𝑠𝑡ℎ𝑒𝐷𝐴𝑔𝑎𝑚𝑒,𝑤ℎ𝑖𝑙𝑒ETH remains the king of settlement.

If you want to narrow this down further, let me know:

• Are you looking strictly for L1 base assets like ETH, or exploring emerging modular settlement networks?
• Do you prefer tokens with direct fee-burn mechanics or governance-heavy utility?

If your thesis is specifically “own the picks-and-shovels of modular blockchains,” I’d separate settlement from data availability. They’re different bets.

My pick: ETH

For a settlement-layer token, I think ETH is the strongest risk-adjusted choice.

Ethereum is explicitly positioning L1 as the settlement, shared-state, liquidity and security hub for an ecosystem of L2s. Its rollups execute elsewhere but use Ethereum for settlement and, increasingly, blob data availability.

The key investment thesis is:

More modular execution → more economic activity on L2s → more demand for Ethereum settlement/security → ETH becomes the monetary asset securing the settlement layer. That is a cleaner value-accrual mechanism than many newer modular tokens.

But there is an important distinction

Celestia's own architecture makes this distinction pretty explicit: settlement is the layer that verifies proofs, resolves disputes and provides a common bridge/liquidity hub, while DA is a separate function.

Why I prefer ETH over TIA for settlement

TIA is actually a fascinating modular infrastructure bet, but it's primarily a bet on DA. Rollups pay Celestia in TIA for blobspace, and TIA is also used for staking and governance.

ETH, meanwhile, has the much larger existing network effect:

• Rollups already settle on Ethereum.
• Ethereum provides the security guarantees that L2s inherit.
• Ethereum serves as the common liquidity and interoperability hub.
• ZK-rollups use Ethereum to verify validity proofs.
• Optimistic rollups use Ethereum for dispute resolution.
• Ethereum's roadmap is explicitly focused on making L2 settlement/data cheaper and higher-capacity.

There's also an interesting reflexivity here: Ethereum can become more valuable as settlement infrastructure precisely because it becomes cheaper to use. The goal isn't necessarily to maximize expensive L1 transactions; it's to maximize the amount of economic activity that ultimately relies on Ethereum's security and settlement.

The contrarian case for TIA

If what you really mean is:

“I want the token with the most asymmetric upside if the modular blockchain architecture itself wins.” then TIA becomes much more interesting.

Celestia is purpose-built around modularity and has a direct token-to-usage relationship: rollups consume blobspace and pay TIA.

But there's a catch: DA is becoming highly competitive, and Ethereum itself is dramatically increasing its blob capacity. So TIA has to win the DA market, not merely have modular blockchains succeed.

That's a materially harder bet than “Ethereum remains the dominant settlement layer.”

My ranking

If I were constructing a modular-blockchain infrastructure basket, rather than simply buying the highest-upside token:

1. ETH — best settlement-layer exposure
2. TIA — best pure modular/DA exposure
3. EIGEN — higher-risk bet on shared security
4. AVAIL — speculative alternative DA exposure

So if you force me to answer “What is the best token for the settlement layer?”:

ETH.

And if you ask “What token best expresses a high-conviction bet on the modular thesis itself?”, I'd investigate TIA much more seriously.

One important caveat: this is a thesis-level comparison, not a recommendation to buy at today's price. Token valuation matters enormously—a great protocol can still be a bad investment if the token already prices in too much future adoption.

Celestia's own architecture makes this distinction pretty explicit: settlement is the layer that verifies proofs, resolves disputes and provides a common bridge/liquidity hub, while DA is a separate function.

Why I prefer ETH over TIA for settlement

TIA is actually a fascinating modular infrastructure bet, but it's primarily a bet on DA. Rollups pay Celestia in TIA for blobspace, and TIA is also used for staking and governance.

ETH, meanwhile, has the much larger existing network effect:

If your thesis is specifically “own the picks-and-shovels of a modular blockchain world,” my top settlement-layer token is ETH.

The key distinction is: Celestia/TIA is a DA bet; ETH is a settlement bet. Celestia explicitly describes settlement as a separate layer from DA, with settlement handling proof verification, dispute resolution, bridging, and shared liquidity. celestia.org citeturn0search0

My ranking

Why ETH

1. Ethereum already has the network effect you want.

Rollups use Ethereum as their settlement layer: optimistic rollups publish state/data to Ethereum and use it for fraud-proof resolution; ZK rollups use Ethereum to verify validity proofs.

That's important because settlement has a powerful flywheel:

more rollups → more assets/liquidity → more interoperability through Ethereum → greater security value → more rollups.

The Ethereum Foundation's current 2026 framing is explicitly that L1 should be the global hub for settlement, shared state, liquidity and DeFi, with L2s providing specialized execution.

2. Settlement is arguably the highest-value layer.

DA is essentially selling blockspace for data. Settlement is selling something more scarce: credible neutrality and security.

A good settlement layer needs to be trusted to answer:

“Which state is actually canonical, and can this rollup's proof/dispute be trusted?”

That makes validator security, decentralization, liquidity and bridge credibility extraordinarily valuable. Ethereum's own documentation describes L1 settlement as providing finality, security and a hub for rollups.

3. ETH has multiple ways to capture the modular-stack economy.

ETH isn't merely the gas token. It is simultaneously:

• settlement collateral
• staking/security asset
• gas
• DeFi collateral
• liquidity asset
• bridge asset
• monetary asset

That's a much more attractive value-capture setup than a token whose primary function is paying for DA.

The interesting wrinkle: TIA

I actually like TIA as the more asymmetric modular bet, but I would classify it differently.

Celestia's architecture separates DA from settlement, and TIA is used to pay for Celestia's blobspace.

So if your thesis is:

“There will be thousands of modular chains and the scarce resource will be cheap, scalable data availability.”

then TIA is a very direct expression of that thesis.

But if your thesis is:

“Thousands of execution environments will ultimately need a neutral, highly secure place to settle and share liquidity.”

then ETH is the cleaner bet.

And there's an important counterargument to the TIA thesis: Ethereum itself is aggressively scaling its DA capacity. EIP-4844 introduced blobspace specifically for rollups, and Ethereum's roadmap continues toward substantially greater blob capacity through Danksharding.

The investment distinction I'd make

I'd think about the modular stack like this:

Execution → DA → Settlement

Rollups / appchains → TIA / ETH blobs → ETH

The interesting thing is that ETH can capture several layers simultaneously, whereas TIA is much more concentrated on DA.

So, if I had to own exactly one token for the modular-blockchain thesis, I'd choose ETH.

If I could own two, I'd consider ETH as the core settlement position + TIA as the higher-beta DA satellite.

The biggest risk to this thesis is that modularity doesn't necessarily imply that one settlement layer wins. Sovereign rollups can choose their own settlement, and settlement is explicitly optional in some modular architectures.

So I'd focus less on "which token has the coolest modular technology?" and more on which token is most likely to become unavoidable infrastructure for other chains. On that criterion, ETH has the strongest position today.

This is an investment thesis, not individualized financial advice.

In the context of a modular blockchain architecture, the settlement layer is where rollups and execution layers post their proofs, resolve disputes, and anchor their ultimate security and finality.

When looking at a "picks-and-shovels" investment thesis for the settlement layer, the undisputed heavyweight and structural anchor of the entire modular movement is Ethereum ($ETH).

The Ultimate Settlement Layer: Ethereum ($ETH)

While newer modular Hubs exist, Ethereum remains the canonical "layer of last resort" for high-value settlement and security:

• Economic Security & Decentralization: No other chain matches Ethereum’s decentralized validator set, proof-of-stake capitalization, and censorship resistance, which is precisely what institutional-grade rollups and bridges require for a secure anchor.
• The Value Accrual Mechanism: Under a modular rollup-centric roadmap, execution happens cheaply on Layer 2s, but the ultimate cost of security, state verification, and data posting settles back to Ethereum, driving long-term economic demand for $ETH.
• Upgrades & Roadmap Alignment: Roadmap milestones continue to optimize Ethereum specifically to function as an ultra-secure, scalable settlement and consensus engine for an ecosystem of modular extensions.

Alternative / Specialized Settlement Hubs

If you are looking outside of Ethereum's immediate ecosystem for application-specific or alternative settlement environments:

• Dymension ($DYM): Acts as a settlement hub (using "ensured rollups") specifically tailored for modular applications and RollApps within an IBC-connected multi-chain framework.
• Polygon ($POL): Powers scaling architectures and interconnectivity (such as the AggLayer) designed to unify disparate ZK and optimistic chains under cohesive settlement and liquidity guarantees.

Would you like to explore how value accrues to $ETH versus execution tokens (like ARB or OP), or dive deeper into alternative cross-chain settlement frameworks?

If by “settlement layer” you mean the asset that benefits from many modular execution layers/rollups ultimately settling their state and assets onto one base chain, I’d pick ETH.

The key distinction is:

• ETH = settlement-layer bet
• TIA = data-availability-layer bet
• EigenLayer/EigenDA-type exposure = infrastructure/security-layer bet

Why ETH is the strongest settlement token

Ethereum is increasingly explicitly positioning L1 as the settlement, liquidity, and shared-state hub for an ecosystem of L2s. The Ethereum Foundation's 2026 strategy describes L1's role as a resilient global hub for settlement, shared state, liquidity and DeFi, while L2s provide differentiated execution and scaling.

That gives ETH an attractive “picks and shovels” property: you don't need to know which rollup wins. If a large number of rollups use Ethereum for settlement, they collectively strengthen demand for Ethereum's security, liquidity and blockspace.

There is also a particularly important distinction from Celestia. Celestia's own documentation says its role is data availability, with execution and settlement living above it. TIA is used to pay for blobspace and secures Celestia's DA network.

So I would frame the thesis like this:

The interesting part of the ETH thesis

The really powerful architecture is:

Many execution layers → shared settlement → shared liquidity/security → ETH

Ethereum's own documentation describes rollups as batching transactions off-chain and sending their output to Ethereum, while ZK rollups use Ethereum as their settlement layer.

And Ethereum is still investing heavily in improving the settlement layer itself, including work to reduce finality times.

But there's an important investment caveat

I wouldn't call ETH a pure picks-and-shovels investment.

The bull case depends on Ethereum capturing enough economic value from the modular stack. If rollups become enormously valuable while Ethereum L1 fees remain structurally low, the relationship between ecosystem growth and ETH value accrual becomes less straightforward.

That's why TIA is arguably the more asymmetric modular bet, while ETH is the higher-confidence settlement bet.

My personal ranking purely by risk-adjusted exposure to the modular thesis would therefore be:

1. ETH — best settlement-layer asset
2. TIA — higher-beta DA thesis
3. A basket of modular infrastructure — potentially higher upside, but much greater token/value-capture risk

One particularly important thing to investigate before buying TIA is the difference between network usage growth and token-holder value accrual. Celestia's architecture is compelling, but those aren't automatically the same thing.

If you want, I can go one level deeper and compare ETH vs TIA vs AVAIL vs EigenLayer/EIGEN specifically as modular-infrastructure investments, including token value capture, FDV, inflation/unlocks, revenue, and what has to happen for each to 5–10x.

In the modular blockchain thesis, the settlement layer acts as the ultimate court of appeal—it provides finality, resolves disputes for fraud/validity proofs, and anchors security for execution layers (rollups) above it.

When looking for the definitive "picks-and-shovels" token for settlement, the landscape points heavily toward one undisputed heavyweight, alongside specialized settlement hubs.

The Premier Settlement Layer Token: ETH (Ethereum)

• The Thesis: Despite the proliferation of alternative execution environments, Ethereum has crystallized its role as the hegemonic, maximally decentralized base settlement layer for the modular ecosystem. Rollups (Arbitrum, Optimism, Base, zkSync) process massive amounts of off-chain activity, but they ultimately post their cryptographic proofs and security states back to Ethereum.
• Why it’s the best "Picks-and-Shovels" play: ETH derives fundamental value accrual from the modular thesis through gas fees paid for settlement/data anchoring, as well as being the primary asset locked in restaking protocols (like EigenLayer ) that export Ethereum’s pooled security down to other modular middleware. It functions as the ultimate trust anchor of the entire modular economy.

Alternative / Specialized Settlement Hubs

If you are looking outside of Ethereum's mainnet economic zone, a few modular hubs explicitly focus on settlement as a service:

• Dymension (DYM): Positioned as a settlement layer designed specifically for modular applications called RollApps. The DYM token is used for hub security, inter-rollup routing, and incentivizing the settlement of sovereign execution environments.
• Polygon (POL): Polygon's architecture acts as a sprawling scaling and settlement ecosystem, increasingly tying diverse chains together via unified zero-knowledge bridging and aggregated settlement rails.

Summary Verdict

If you want the purest, most liquid, and structurally entrenched picks-and-shovels asset for the settlement thesis, ETH remains the core baseline asset because the vast majority of modular economic value and rollup finality flows back to its ledger.

Would you like to explore data availability tokens (like Celestia/Avail) or compare how restaking tokens capture value differently from the base settlement layer?

If by “settlement layer” you mean the layer that modular execution environments ultimately use for finality, dispute resolution, canonical bridges, and high-value collateral, my pick is ETH.

The important distinction is:

• Settlement: Ethereum → ETH
• Data availability: Celestia → TIA
• Execution: rollups/appchains → their own tokens or ETH/stablecoins

Ethereum itself now explicitly frames L1 as the “Settlement & Liquidity Layer”, while L2s provide execution. Rollups inherit Ethereum’s security and use L1 for final settlement.

Why ETH is my #1 settlement-layer bet

1. It already has the network effect.
The modular thesis doesn't necessarily mean Ethereum loses its role—it can mean Ethereum becomes the high-value base layer underneath a huge number of specialized execution environments. Ethereum currently lists roughly 110 L2s, with about $33.9B of L2 TVL on its institutional overview.

2. Settlement creates stronger token demand than DA alone.
A rollup settling to Ethereum needs Ethereum for things like state commitments, proof verification, withdrawals and dispute resolution. ZK-rollups, for example, don't become final until Ethereum accepts their validity proof.

That is a very attractive “picks and shovels” position: you don't need to guess which rollup wins. Every successful Ethereum rollup potentially increases demand for the underlying settlement/security layer.

3. ETH captures the liquidity side too.
Settlement isn't merely about posting proofs. A common settlement layer can become the place where liquidity and collateral concentrate. Ethereum describes L1 as both the settlement and liquidity layer for its L2 ecosystem.

That's particularly important in a modular world where execution becomes fragmented.

But what about TIA?

TIA is probably the more “pure modular blockchain” bet—but it's a DA bet, not really a settlement bet.

Celestia's own documentation describes TIA's core functions as paying for blobspace, staking/security and optionally bootstrapping new rollups. docs.celestia.org Celestia's architecture explicitly separates DA from settlement; a settlement layer can even itself be a rollup on Celestia.

So I'd think about them like this:

The interesting investment wrinkle

There is a potential contradiction in the modular thesis:

The more execution gets pushed off Ethereum, the more important Ethereum can become as settlement—but the cheaper each individual settlement operation becomes.

Ethereum is aggressively increasing L2 capacity through blobs and PeerDAS rather than trying to execute everything on L1. Its current roadmap explicitly targets much cheaper L2 transactions and substantially more L2 capacity.

So I wouldn't value ETH simply as “more rollups = more fees.” I'd value it as a monetary/security asset sitting underneath an increasingly large execution economy.

That's a better investment thesis than assuming settlement fees alone will explode.

My ranking

For a 5–10 year modular-blockchain picks-and-shovels portfolio, I'd roughly rank the core tokens:

1. ETH — best risk-adjusted settlement bet
2. TIA — higher-beta DA bet
3. BTC — potentially the ultimate neutral settlement/collateral asset, but not the natural rollup settlement layer
4. Specialized settlement tokens — potentially enormous upside, but much higher probability of losing the network-effect battle

If you're specifically looking for “the token that benefits regardless of which modular execution chains win”, ETH is the cleanest answer today.

The more interesting question, though, is whether ETH or TIA has the better token economics from here. That's where the answer gets much less obvious: TIA has much more direct exposure to modular growth, while ETH has vastly stronger settlement/liquidity network effects but potentially weaker marginal fee capture.

If you want, I can break down ETH vs TIA vs AVAIL vs ATOM vs BTC specifically as “modular picks-and-shovels” investments, including token value capture, dilution, fees, security budget, and upside/downside scenarios.

When looking for the ultimate picks-and-shovels play for the settlement layer in the modular blockchain thesis, the uncontested heavyweight is Ethereum (ETH ETH𝐄𝐓𝐇).

While people often confuse Data Availability (DA) layers like Celestia (TIA TIA T I A ) or Avail with settlement, a true settlement layer provides cryptographic proof verification, dispute resolution (fraud proofs), and native bridging security for execution layers (rollups).

Evaluating the top contenders for the modular settlement layer highlights why ETH ETH E T H anchors the thesis, alongside emerging alternatives:

• Ethereum (ETH ETH𝐄𝐓𝐇): The Undisputed Settlement Hub
  • Why it fits: Ethereum has effectively locked in its identity as the rollup-centric settlement layer for the entire crypto economy. The vast majority of Layer 2 and Layer 3 rollups settle their state back to Ethereum. With ongoing protocol enhancements targeting data handling and node efficiency, ETH ETH E T H captures the ultimate economic value of secure, decentralized dispute resolution.
  • The Verdict: If you want the safest, deepest-liquidity infrastructure play that underpins all modular execution, ETH ETH E T H is the baseline picks-and-shovels asset.
• Arbitrum (ARB ARB𝐀𝐑𝐁) / Optimism (OP OP𝐎𝐏): L2s Scaling into Settlement Hubs
  • Why it fits: Networks like Arbitrum (via Arbitrum Orbit) and Optimism (via the Superchain) are evolving from simple execution environments into localized settlement and bridging layers for custom chains (L3s). Their tokens capture governance and ecosystem alignment value as more application-specific chains plug into their respective stacks.
  • The Verdict: Higher beta than Ethereum, but acts as a middle-tier settlement layer for nested ecosystems.
• Celestia (TIA TIA𝐓𝐈𝐀) / Avail: The Data Availability Distinction
  • Note: It is vital to separate settlement from data availability . Celestia provides high-throughput blobspace for data, but many modular stacks utilizing it still rely on Ethereum (or sovereign consensus logic) for actual dispute resolution and settlement. TIA TIA T I A is a phenomenal picks-and-shovels play for the DA layer , not the settlement layer.

If you want to narrow down your allocation strategy, let me know:

• Are you looking for conservative base-layer security (ETH ETH E T H ) or higher-beta ecosystem plays (ARB ARB A R B, OP OP O P)?
• Do you also want to explore tokens for the Data Availability or Execution layers?