Ava Labs Founder: Beware of junk L2 projects, the key is whether the project can solve the biggest current problem in cryptocurrency

Ava Labs founder Emin Gün Sirer warned in a tweet that the cryptocurrency field needs to be highly vigilant against garbage L2 projects. It's now very easy to build such networks, and they can change every other day like some chains do. Some people are just imitating those who are actually doing real work, and even want to take photos with Vitalik.

 

He listed several characteristics of garbage L2 projects, such as:

 

- The project narrative does not match the actual technology. For example, centralized sorters and L2 networks lacking fraud proofs run counter to cryptocurrencies.

 

- Projects sell tokens to raise funds, but future technology is unclear. Such behavior may constitute securities issuance.

 

- Founders dump personal tokens before launch, violating team restrictions. 8-figure sales under the guise of "thanking employees" resemble SBF's actions.

 

- There are very few circulating tokens which could potentially be manipulated for lending purposes.

 

- Founders complain about running out of cocaine; this is unethical.

 

He suggested judging their value by checking whether the project can solve the biggest problems currently faced by cryptocurrencies.