Mononaut, founder of Bitcoin browser Mempool, expressed the following views on the current Bitcoin L2 craze on the X platform:
If a Bitcoin L2 project does not support unilateral exit, then it is not a real L2 but a multi-signature;
If a Bitcoin L2 project has VC investors and its own tokens, then it is not a real L2, and this token is a pump and dump junk coin;
If a Bitcoin L2 project provides "reciprocal rewards" based on how much the user's friends deposit, then it is not a real L2, but a Ponzi scheme;
If a Bitcoin L2 project is supported by an upgradeable Ethereum contract controlled by a single company, then it is not a real L2, but a Rug Pull scam that may happen at any time;
If a Bitcoin L2 project provides rewards to lock up users' tokens for as long as possible, then this is not a real L2, but Hex 3.0;
If a Bitcoin L2 project claims to be Bitcoin native, but is actually just an Ethereum multi-signature, then it is not a real L2, but a seemingly friendly scam;
If a Bitcoin L2 project has no white paper or technical details, only 20 If there is a page of documentation explaining how to deposit BTC and calculate future returns, then it is not a real L2, but a disguised Bitconnect (a collapsed cryptocurrency lending platform). Ordinals founder Casey said: "Facts."