Cross-posting here from Twitter:
I understand this proposal is motivated by a wish to increase the OP price. The price is a function of supply+demand. We can ignore supply for this proposal and only focus on demand. Demand for OP will likely come from two sources:
- Staking demand to earn sequencer revenues
- Reservation demand, e.g. as a money-like instrument or gas token
Sequencer revenue is primarily a function of providing the best possible UX to Optimism devs/users. Forcing users to hold OP would improve the reservation demand but at the cost of much worse UX - ultimately hurting demand more than helping it.
Instead, I think the natural endgame is for all execution layers to abstract away fees entirely and let users pay in one of many major tokens, pay from a secondary account, pay from the output of their trades, or with MEV, etc. This is the best possible UX and this will maximize usage of Optimism and ultimately demand for the OP token more than any other strategy.