Original author -mononaut
Compiled - Odaily Nan Zhi
The Bitcoin network does not have orthodox iconic organizations/individuals such as the Ethereum Foundation or Vitalik, so there is no completely official definition of what Bitcoin Layer 2 is. The technologies currently used by L2 on the market vary widely. There are solutions that use the Bitcoin network as the DA layer, there are also solutions that build isomorphic side chains of the Bitcoin network, and there are also EVM+ asset bridging solutions.
Mempool founder mononaut posted on the X platform that some so-called Bitcoin L2 cannot actually be considered L2.Ordinals has compiled and summarized the main points of mononaut as follows.
What is fake Bitcoin L2
If your Bitcoin L2 does not support unilateral withdrawal, it is not Bitcoin L2, but just a multi-signature wallet.
If you had Bitcoin L2 with VC and its own (network) token, it would not be Bitcoin L2, but a pump-and-dump Shitcoin.
If your L2 offers reciprocal rewards based on the referrals deposit amount, then this is not Bitcoin L2, but a pyramid scheme.
If your L2 is backed by an upgradeable Ethereum contract controlled by a single company, then this is not Bitcoin L2, but a rugpull that is going to happen. mononaut For example, all deposits of a project are held in wBTC or tBTC, and the locked contract is managed by 5 out of 9 people. BTC deposits are bridged to tBTC and held as tBTC in the locked contract. The smart contract used to lock funds can be upgraded via the 5/9 multisig, with the remaining details shown below.
If your L2 offers incentives to lock up your coins for as long as possible, then this is not Bitcoin L2.
If your Bitcoin L2 claims to be Bitcoin native, but is actually just an eth multi-signature wallet, then this is not Bitcoin L2, but an affinity scam.
If your L2 has no white paper or technical details and only has 20 pages of documentation on how to deposit BTC and calculate future returns, then this is not your L2.
in conclusion
mononaut proposed a series of Bitcoin judgment standards from the technical implementation level, investment level and publicity level. He believed that the bottom layer of EVM, the launch of non-BTC network tokens, and the recommendation mechanism are not qualified Bitcoin L2, alluding to many popular Project, but only as a personal opinion reference, DYOR.
