Synthetix founder: Once the mainstream Layer 2 tokens are launched, the public chain situation will soon be reversed

Some time ago, Synthetix founder Kain Warwick had a heated debate with Su Zhu, the co-founder of Three Arrows Capital, on the development situation of the public chain. Kain Warwick said that many people he respects pursue opportunistic gains at the expense of reputation in order to maximize profits. , And Su Zhu believes that the Ethereum Gas fee is too expensive for ordinary people to use, so it is necessary to strongly support Solana, Avalanche and other public chains, and cause a large number of KOLs in the industry to participate in the discussion.

Today, Synthetix founder Kain Warwick once again tweeted his support for the Ethereum ecosystem and expansion plans. He believes that as most of the ETH infrastructure is migrated to L2 early next year, and the Layer 2 project issues tokens, it will be difficult for the nascent ecosystem to compete with Ethereum. Competition.

The following is the full text of Synthetix founder Kain Warwick’s Twitter:

People’s discussion of “Ethereum is too expensive” has become a meme. There is so much noise around this meme that few people notice that we can continue to stay in the Ethereum ecosystem and pay Less gas fees.

Many people will attack me and say “You are too rich, but we can’t afford the Ethereum gas fee, and you don’t care about real users” and so on. But in fact, Synthetix is ​​built on the Ethereum ecosystem, and high gas fees will hinder its growth.

Many projects in the Ethereum ecosystem are making efforts to expand capacity through side chains, Rollup, ORU, ZK, etc., such as Polygon, Arbitrum, Optimism, or StarkWare. L2 is much cheaper than L1, and Ethereum has more opportunities and potentials because of the expansion plan.

Although it shouldn’t be necessary for users to wait for the expansion plan to mature. Now everyone is investing their feelings and money on public chains called “Ethereum Killers” such as BSC, AVAX, or SOL, but this situation may soon be affected. Reverse. As most ETH infrastructure migrates to L2 early next year, these nascent ecosystems will have difficulty competing with Ethereum. We have seen the adoption rate of DeFi projects deployed on Optimism increase every week.

Most people who switch to the “Ethereum Killer” public chain are even more unacceptable because many people in the Ethereum community are really supporting decentralization instead of just caring about the price of Ethereum. Because many people don’t care about decentralization and other spirits, but just opportunistically get the most value.

I noticed SOL very early, even earlier than most people, but I did not invest in these ecosystems, even though I knew that SOL tokens would be worth millions sooner or later, but this would damage my belief in Ethereum, I want Make sure we don’t make bad trade-offs when building these systems.

I think that most of the current advantages of ETH killers like AVAX are just hidden trade-offs. These trade-offs are creating debt due next year. Although the market will solve this problem, the risk is too great. In my opinion, the money flowing into the ETH killer is an improper resource allocation .

As a market participant, I call on people to unite in the Ethereum community and do more meaningful things for new users on L2. I think more and more users will realize the significant advantages of L2 because of a group of better builders, not just because they support decentralization.

Once we have Rollup tokens (such as Optimism, StarkWare, etc.), we have a very powerful counter-narrative. It will create enough motivation for new users to try Rollup and help guide the awareness and activities of these new public chains.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/synthetix-founder-once-the-mainstream-layer-2-tokens-are-launched-the-public-chain-situation-will-soon-be-reversed/
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