Bridges on Facet V2

Unlike most L2s, the Facet Protocol has no built-in way to get value (in the form of ether) from the Ethereum L1 to Facet and back again.

In this way Facet is like Ethereum itself. Ethereum provides no built-in way to get value from the outside world into and out of Ethereum.

But this doesn't mean that value cannot flow into and out of Ethereum. It just means that it happens on the application level. I.e., Ethereum developers build apps to enable this and the free market decides which approach is best.

USD stable coins are a good example: though there is no "enshrined" stable coin, market competition has created a few winners and users can choose which they deem the most safe. This is how we expect it to work on Facet as well.

But isn't it annoying to have multiple stable coins for the same asset? Indeed it is! But compared to what? Enshrined stable coins call the security of the entire protocol into question, requiring users to choose among multiple competing L2s.

Trust requires competition. When competition occurs between applications on the same protocol users still enjoy an interoperable environment. When competition occurs between L2s, however, switching costs are much higher.