Currently, the problem is Layer2 can only share traffic of Ethereum and Metamask, but can't share the existing liquidity.
So, feel that Ethereum needs XCM, and I am optimistic about the future projects that can provide cross-chain communication for the Ethereum ecosystem.
I think it would be more valuable and healthy to create a bridge for cosmos and Ethereum to achieve interoperability, like this proposal: deploy IBC to Ethereum () and use zk-snark to validate a bunch of ed25519 signatures ()
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