Fireside Chat with Steven Goldfeder (Offchain) and Amanda Cassatt (Serotonin) at ETHConf

Sun, Aug 2, 2026, 12:00 AM

In this fireside chat, Amanda Cassatt from Serotonin sits down with Steven Goldfeder, co-founder of Offchain Labs, to discuss Arbitrum's origins, the evolving role of L2s, and how institutions are reshaping the Ethereum ecosystem. Steven traces Arbitrum back to a fall 2014 Princeton class project led by his co-founder Ed, nearly a year before Ethereum went live, when it was a purely academic pursuit around scaling the theorized concept of smart contracts. Years later, when platforms hit real scaling issues, he and co-founders Ed and Harry took the vision out of the ivory tower. On Vitalik's comment that the rollup centric roadmap no longer makes sense and that an L2 which doesn't fully decentralize is just a vampiric L1 with a bridge, Steven welcomes Ethereum ending its neutral stance toward chains that latched onto the brand without being secured by it, noting Arbitrum was built from day one with proofs connecting it to Ethereum. Steven identifies two major shifts. First, Arbitrum built its own identity, evolving from Ethereum users wanting a cheaper path to majority Arbitrum first users drawn by deep liquidity, apps like GMX, and 250 millisecond block times, making it a top five blockchain by economic activity. Second, L2s now have a purpose independent from scaling: institutions want their own chains for branding, compliance, and privacy, choosing between their own L1 (Stripe's Tempo, Circle's Arc) or an Ethereum L2 (Robin Hood on Arbitrum, Coinbase's Base). He argues Ethereum is the only L1 that can cater to them through the L2 model. He uses Robin Hood's landlord versus tenant framing, explains why fading into invisible infrastructure is best for global adoption (the cat video on AWS versus GCP analogy), and notes the Arbitrum DAO still collects 10% of Robin Hood chain revenue. He covers solving fragmentation through smart routing addresses and ZeroDev chain abstraction, his view that AI agents are closer to a Sybil attack than a solution, his bullishness on non financial use cases like prediction markets and USDA's AI hardware lending, and how Offchain connects institutions to Ethereum while the Foundation stays focused on CROPS. 00:00 Introduction 00:11 From Aspiring Professor to Founding Arbitrum 01:01 The Fall 2014 Princeton Class Project 01:43 Taking Arbitrum Out of the Ivory Tower 02:12 Is Vitalik Right About the Rollup Centric Roadmap 02:41 Why Ethereum Ended Its Neutral Brand Stance 03:09 How Arbitrum Was Built Connected to Ethereum 03:30 Two Core Things That Have Changed 03:48 From Ethereum First to Arbitrum First Users 04:23 Arbitrum as a Top Five Blockchain 04:44 Why L2s Have a Purpose Independent of Scaling 05:26 Institutions Choosing L1 vs L2 05:54 Why Ethereum Is the Only L1 That Can Fight 06:30 Offchain's Role in Scaling the Layer 1 07:11 Is the Case for L2s Now Institutional Onboarding 07:45 Why Institutions Want Their Own Branded Chains 08:15 Owning the Chain to Collect Fee Revenue 08:40 The Landlord vs Tenant Strip Mall Analogy 09:29 What Is Arbitrum in the Landlord Metaphor 10:06 The Risks and Rewards of Invisible Infrastructure 10:46 Fueling Robin Hood's International Expansion 11:28 The Cat Video on AWS Analogy 11:48 Why the DAO Still Benefits in Dollars and Cents 12:13 Fragmentation Across L2s and L3s 12:45 Smart Routing Addresses and Chain Abstraction 13:52 Why Taking a Step Back Enables Going Forward 14:39 Will AI Agents Solve Fragmentation 15:32 Why Agents Add Usage Rather Than Solve It 16:03 Smart Wallets With Policies for Agents 16:48 Will Users Know They're Using Arbitrum in 10 Years 17:11 Why Escape Hatches Matter Even If Unused 18:11 Blockchain Gaming as an Example 18:58 Getting the Benefits Without Engaging the Details 19:17 Why the Right to Self Sovereignty Always Matters 20:01 Bullish on Non Financial Use Cases 20:34 Why Arbitrum Has Been Finance Focused From the Start 21:08 Prediction Markets and USDA AI Hardware Lending 21:49 What the Programmable Economy Really Means 22:16 How Arbitrum's Mission Fits Ethereum's Values 22:44 Believing in CROPS and Decentralization 23:30 Offchain as the Business Conduit for Institutions 24:06 A Harmonious Ecosystem With the Ethereum Foundation 24:27 Closing _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ *ETHConf 2026* ETHConf is a 3 day event for founders, industry leaders, and builders who are excited about the possibilities of building on top of Ethereum. Connect with 2,000+ top innovators in crypto, finance, technology, and policy at our inaugural three-day event packed with showcases, demos, partnerships, and conversations shaping the future of the global economy. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ *Follow ETHConf* X: https://x.com/ethconf Website: https://ethconf.com _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🎟️ Get your early bird tickets for ETHConf 2027: https://ethconf.com/2027#tickets 🎤 View the full ETHConf 2026 Speaker Schedule: https://ethconf.com/schedule _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _