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Synthetix founder: Next year Alt L1 will be exposed because ethereum L2 is so dominant

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Kain Warwick believes the nascent ecosystem will struggle to compete with ethereum as most ETH infrastructure moves to L2 early next year and the Layer2 project issues tokens.
原文来源: Kain Warwick
Nian Qing, chain catcher


Recently, Synthetix founder Kain Warwick had a heated debate with Su Zhu, co-founder of Three Arrows Capital, about the development of public chains. Kain Warwick said that many people he respects are pursuing opportunistic gains at the expense of reputation in order to maximize profits. Su Zhu believes that ethereum Gas costs are too high for ordinary people to use, so we need to strongly support Solana, Avalanche and other public chains, and a large number of Kols in the industry participate in the discussion.


Today, Synthetix founder Kain Warwick tweeted again in support of the ethereum ecosystem and expansion plans. He believes that with the majority of ETH infrastructure moving to L2 early next year and the issuance of tokens for the Layer2 project, the nascent ecosystem will struggle to compete with ethereum.

 

Here's the full tweet from Synthetix founder Kain Warwick:

 

The "Ethereum is too expensive" debate has become a meme, and so much noise is currently being made around it that few people have noticed that we can stay in the Ethereum ecosystem and pay less Gas.


A lot of people would attack me and say things like "You're too rich, but we can't afford Ethereum gas, you don't care about real users" etc. In fact, Synthetix is built on the Ethereum ecosystem, and high gas fees will hamper its growth.


In the ethereum ecosystem, there are many projects making efforts to expand capacity through side chain, Rollup, ORU, ZK and other forms, such as Polygon, Arbitrum, Optimism or   StarkWare, etc. L2 is much cheaper than L1, and ethereum has more opportunities and potential because of the scaling scheme.


While it's a bad idea to ask users to wait for expansion solutions to mature, people are now investing their hearts and money in so-called "Ethereum killers" like BSC, AVAX or SOL, but that could soon change. With most of the ETH infrastructure migrating to L2 early next year, these nascent ecosystems will struggle to compete 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 less comfortable with the fact that many people in the Ethereum community are actually supporting decentralization and not just caring about the price of Ethereum. Because a lot of people don't care about the spirit of decentralization, and are just opportunistic to get the most out of it.


I was aware of SOL early, even before most people, but I didn't invest in these ecosystems, even though I knew the SOL Token would eventually be worth millions, but that undermined my faith in Ethereum, and I wanted to make sure we didn't make bad trade-offs in building these systems.


I think most of the current advantages of ETH killers like AVAX are just hidden tradeoffs that are creating debt that comes due next year, and while the market will take care of that, it's too risky. In my view, the money flowing into killer ETH is a misallocation of resources.


As a market participant, I call on the ethereum community to come together and do more meaningful things for new users on L2. I think more and more users will realize the significant advantages of L2 with a better group of builders, not least because they support decentralization.


Once we have the Rollup Token (e.g. Optimism, StarkWare, etc.), we have a very powerful counter-narrative. It will create enough motivation for new users to try Rollup and help guide awareness and activity around these new public chains.


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