币界网报道：Layer 2 tokens may be facing overvaluation risks as their market caps surge despite limited adoption, according to industry analysts. Many L2 networks like Arbitrum and Optimism have seen their native tokens appreciate significantly, with Arbitrum's ARB up 30% in a month. However, concerns are growing about potential bubbles as these valuations appear disconnected from actual network usage metrics. Another emerging issue is governance token vote manipulation, where large holders could sway protocol decisions. Some projects are exploring solutions like vote delegation models to mitigate centralization risks. The situation highlights the challenges of balancing token incentives with sustainable ecosystem growth in the Layer 2 space.