What are the protocols that comply with “High-Risk BTC L2”? Developers criticize the chaos of Bitcoin L2.
If your Bitcoin L2 does not support unilateral exit, then it is not your L2, but rather a multisig. In other words, if you need someone’s consent to withdraw your funds, it is not a unilateral exit. (From the screenshot provided by @mononautical, it is likely referring to Threshold Network.)
If a Bitcoin L2 has VC investors and its own token, then it is not your L2, but just a pump and dump garbage coin. It directly uses Mezo Network as an example.
If a Bitcoin L2 offers reciprocal rewards, where the more your referred friends deposit, the more rewards you receive, then it is also not your L2, but 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 eventually happen.
If your Bitcoin L2 offers lock-up rewards, encouraging you to lock up your tokens as much as possible, then it is just 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, and only has a 20-page document explaining how to deposit Bitcoin and calculate future returns, then it is just another Bitconnect scam project.
