The proliferation of Layer 2 (L2) solutions on Ethereum and other blockchains is reshaping the crypto landscape. Companies and developers are increasingly building their own L2s to capitalize on the benefits of having a dedicated chain without the need to manage their own consensus. This trend is driven by the commoditization of L2 technology, making it easier to launch new chains. For instance, Base built an L2 on Ethereum, leveraging its strong developer ecosystem and Coinbase's extensive user base. Additionally, the modular 'app chain' phenomenon is gaining traction, with Ethereum L2s, tooling, and ETH liquidity playing a crucial role. The network effects of adopting common rollup standards for interoperability are also significant. Meanwhile, Arbitrum, a prominent Ethereum L2, is leading the way with its high total value locked (TVL) and active ecosystem. The Aave DAO has launched its GHO stablecoin on Arbitrum, marking a significant step in its cross-chain expansion strategy. Luca has announced the Abstract chain as a new frontier for consumer adoption. The Onchain Olympics have also kicked off, celebrating L2 advancements.