This is Ethereum. There are 291 projects, companies, protocols and communities in this image. It is still only a fraction of what has been built. What makes this remarkable isn't just the scale. It's how that scale was created. There is no parent company behind all of this. No CEO allocating capital across these projects, no central entity deciding who gets to build or what the ecosystem should become. Thousands of independent teams, communities and individuals have built their own piece of Ethereum, often with completely different goals, while sharing the same underlying infrastructure. Finance, credit, stablecoins, payments, RWAs, privacy, identity, gaming, social applications, infrastructure, culture and public goods are increasingly becoming parts of the same composable economy. That structure matters. Value isn't concentrated in one company at the top. It is distributed across protocols, builders, users, communities and assets. Yet they can still reinforce each other because they share Ethereum as common infrastructure. And underneath that economy sits ethereum:native. ethereum:native secures Ethereum, pays for its blockspace and is used throughout the ecosystem as collateral, liquidity and money. As more applications, assets and economic activity settle on Ethereum, the economic role of ETH grows with it. This is why we believe ETH remains heavily undervalued. The market often looks at ETH as another crypto asset. We look at what is actually being built around it. 291 logos in one image, with many more still missing. And most of the world's people, assets and economic activity haven't even moved onchain yet. Ethereum is no longer just an experiment in decentralized technology. It is becoming an entire economy, built by many, owned by no one, with ETH at its core. BOOElieve in the future of Ethereum and ethereum:native

Happy Birthday Ethereum, click the link to join the party. You get 11x11 pixels and 11 colors to make something fully onchain. Then you share your link. Everyone who draws through your link connects to yours. Everyone who draws through theirs connects to them. By tomorrow the canvas will combine everybody’s work and present a picture of how Ethereum is formed, the way it always has been; from person to person, and from block to block. The canvas is open for 24 hours, and it keeps growing the whole time. When it closes, your square sits next to your friends’ for as long as Ethereum runs for forever. Long live the world computer. Start drawing now, mint opens in 1 hour at networked.art/11x11

Here at Arbitrum, we let the tech speak for itself.

growthepie needs your support and this time any ETH holder can help! @OctantApp epoch 12 is in full swing and GLM as well as ETH holders can vote for their favorite teams building in the Ethereum ecosystem and beyond. Every vote is a huge help for us - only 5 days left