Ethereum has announced the Ethereum Economic Zone (EEZ), a new initiative aimed at unifying Layer 2 (L2) chains into a cohesive network. Revealed at the EthCC Cannes conference by Gnosis co-founder Friederike Ernst and developer Jordi Baylina, the EEZ seeks to transform isolated L2 chains into a connected ecosystem, allowing seamless interaction and settlement on the Ethereum mainnet using ETH as the unified gas fee. This initiative is co-funded by the Ethereum Foundation, with Aave and other protocols as founding members. The EEZ aims to eliminate barriers between L2 chains, enabling synchronized operations and real-time proof of Ethereum blocks. This development comes as Ethereum faces challenges with its economic model, as the shift to L2 solutions has reduced mainnet revenue and altered the deflationary narrative of ETH. Despite a decline in ETH's price from $4,800 to just over $2,000, Ethereum remains a critical infrastructure with $53 billion in DeFi TVL and $163 billion in stablecoins on its mainnet, largely driven by institutional investments.