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Home » What protocols are in line with “high-risk BTC L2”? Developers criticize the chaos in Bitcoin L2.
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What protocols are in line with “high-risk BTC L2”? Developers criticize the chaos in Bitcoin L2.

Apr. 11, 2024No Comments2 Mins Read
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What protocols are in line with "high-risk BTC L2"? Developers criticize the chaos in Bitcoin L2.
What protocols are in line with "high-risk BTC L2"? Developers criticize the chaos in Bitcoin L2.
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If your Bitcoin L2 does not support “unilateral exit,” then it is not your L2, but rather a multisig. In other words, if your funds require the consent of others to exit, it is not a “unilateral exit.” (From the screenshot provided by @mononautical, it is likely referring to Threshold Network).

If a Bitcoin L2 has venture capitalist investors and its own token, then it is not your L2, but rather a pump and dump scam. It directly refers to Mezo Network.

If a Bitcoin L2 offers reciprocal rewards, where the more your recommended friends deposit, the more rewards you receive, then it is not your L2, but rather a Ponzi scheme.

If your Bitcoin L2 is supported by an upgradable Ethereum smart contract controlled by a company, then it is not your L2, and a Rugpull will happen sooner or later.

If your Bitcoin L2 offers lock-up rewards, encouraging you to lock up your tokens as much as possible, then it is simply Hex 3.0.

If your Bitcoin L2 claims to be Bitcoin-native but is actually an Ethereum multisig smart contract, then it is just an affinity scam.

If your Bitcoin L2 does not have a whitepaper or technical details, but only a 20-page document explaining how to deposit Bitcoin and calculate future returns, then it is just another scam project like Bitconnect.

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