ETH's L2's Are they really not much attractive now

[ZAINmalik75]

Most of my money in Linea are in ZeroLend, stargate and Mendi
I'm not doing tons of things, since I already did a lot of txs, contracts and Nfts
I think a reasonable return is something like 10x of your spend in Linea
They can distribute based on LXP and them doing some multiply in number of months, txs etc

ZeroLend and Stargate are good projects but I am not so familiar with Mendi. Are you referring to Mendi finance which is a lending protocol? Lending protocols and platforms were in hype in the first 4 to 6 months of 2024 now the trend is dying but these projects are long term and they will never be bankrupted due to the need of crypto users they are fulfilling.

Stargate is a good project and the development is awesome, but it's also another liquidity project which allow us to cross chain our assets. How much volume do you create on Stargate? 10x on linea is a reasonable return and we at least deserve it due to the efforts we have made. LXP idea was not so good in my opinion .

[Jating]

10x return sounds too good to be true considering how many people participated in the Linea campaign. Is there any breakdown of how many tokens can we get for each point? I don't really want to spend another hundred dollars in fees to farm more points to convert my tokens. Feels like they're trying to farm more transaction fees instead of building a working ecosystem. I really hope that won't be the norm for L2 projects in the future.

I agree, I do not think that 10x is doable, not with the current market conditions or how many people are going to participate in the Linea campaign. And it seems that it is base on pure hype already.

So it's not looking good when the project was seen in the beginning to be building a working L2 projects. But it seems that focus has been shift and for sure there are a lot of investors that are disappointed by it.

[Hamza2424]

Linea still has great potential if they have kept their funding limit lower. I have joined their airdrop and spent more than $100 on fees and have accumulated many Linea tokens now waiting for the listing. I hope it will give us higher returns and we can make more than 10x on our investments. What are your predictions about Linea?

Many people are using the optimism network too it still has hype and ARB is now being considered a trendy coin to invest money in the long term but we should look for other options too like deep AI and gaming but what projects are good in these fields in your opinion?

Linea was a good one, but you need to know that the Airdrop farmers have always pumped them. I also know that you've invested decent time and amount to farm their airdrop and now farmers are super angry on the team. They are literally scamming people, i cant see what Linea is bringing new in this scalability race, ZK seems decent, OP was good base is super but there will be no coin in my views and for ARB now doubt one of the strongest ecosystem on the ETH L2's.

[rdluffy]

ZeroLend and Stargate are good projects but I am not so familiar with Mendi. Are you referring to Mendi finance which is a lending protocol? Lending protocols and platforms were in hype in the first 4 to 6 months of 2024 now the trend is dying but these projects are long term and they will never be bankrupted due to the need of crypto users they are fulfilling.

Stargate is a good project and the development is awesome, but it's also another liquidity project which allow us to cross chain our assets. How much volume do you create on Stargate? 10x on linea is a reasonable return and we at least deserve it due to the efforts we have made. LXP idea was not so good in my opinion .

Yes, Mendi is a lending protocol https://mendi.finance/
I used to diversify a little bit, and not leave all the money in ZeroLend and Stargate
I'm using Stargate to do some bridges, it's very cheap do bridge right now

LXP is a way to Linea farm us users 
I prefer the old way to distribute tokens to users, like number of txs, time in network, contracts, volume generated etc

[joniboini]

LXP is a way to Linea farm us users 
I prefer the old way to distribute tokens to users, like number of txs, time in network, contracts, volume generated etc

Yeah, this points system is a bit 'unfair' since you'll need inflated numbers of transactions to make everything worthwhile. While a project can argue that points represent tx numbers, volume generated etc, it means nothing if you need to spend hundreds of dollars to generate 1 token.

So it's not looking good when the project was seen in the beginning to be building a working L2 projects. But it seems that focus has been shift and for sure there are a lot of investors that are disappointed by it.

Agree. I'm not sure if the money they made from these campaigns is worth the long-term stability of the ecosystem. There are examples where hyped projects have a short life because they fail to generate sustainable volume due to terrible decisions.

[ZAINmalik75]

Yes, Mendi is a lending protocol https://mendi.finance/
I used to diversify a little bit, and not leave all the money in ZeroLend and Stargate
I'm using Stargate to do some bridges, it's very cheap do bridge right now

LXP is a way to Linea farm us users 
I prefer the old way to distribute tokens to users, like number of txs, time in network, contracts, volume generated etc

Some wallets are still receiving LXP maybe from old tasks, if linea brings its own telegram bot into the market right now, then it will get huge investments that they will meet its target for TVL quickly. Why they don't take such steps maybe they don't care for money but for the long stay in the market to make something useful and outstanding but they are not building anything new and unique.

I also prefer that way but this way is cheaper and most of us can now participate in that campaign now. I don't join the lending platform but I like stargate and mendi there are more in the market but every narrative has a hype and now its of telegram bots.

[NotATether]

L2's on ETH will be just fine.

They don't need to get hyped just to stay popular. The fact that they're on the top 100 in terms of market cap consistently is I guess enough to say that there are still many investors that are supporting the project and on the other hand, most of the top L2 projects right now is constantly developing just to stay afloat.

There are companies even now that are building L2s on Ethereum for their own purposes. Well, I mean the big exchanges in particular. For instance, Coinbase built BASE, and it seems to be doing really well for them. And I'm sure Binance has a BEP L2 on Ethereum as well.

It's actually a huge money-making source so I'm sure they will be fine in the long term.

[joniboini]

Some wallets are still receiving LXP maybe from old tasks, if linea brings its own telegram bot into the market right now, then it will get huge investments that they will meet its target for TVL quickly. Why they don't take such steps maybe they don't care for money but for the long stay in the market to make something useful and outstanding but they are not building anything new and unique.

I believe LXP distribution is done in batches so it's no surprise if some wallets received their points late. What kind of bot activity are you suggesting? Personally, my impression of them would go even lower if they launched a copy of Notcoin or something else. Feels like they just look at any trend, stop building their own network, jump on the hype train to make more money, rinse, and repeat. At the very least I've seen so many complaints about their farming programs on social media already, I don't think it's a good idea to add another round of points farming when you don't know when or how the tokens will get utilized on the network. CMIIW.

[rdluffy]

There's a new L2 in town 


Source

Unichain is from Uniswap
It could be just another L2, but due to Uniswap's strength, it could have a good appeal

[ZAINmalik75]

I believe LXP distribution is done in batches so it's no surprise if some wallets received their points late. What kind of bot activity are you suggesting? Personally, my impression of them would go even lower if they launched a copy of Notcoin or something else. Feels like they just look at any trend, stop building their own network, jump on the hype train to make more money, rinse, and repeat. At the very least I've seen so many complaints about their farming programs on social media already, I don't think it's a good idea to add another round of points farming when you don't know when or how the tokens will get utilized on the network. CMIIW.

I agree with your statements and they are farming and bringing more and more tasks for hunters to get more awareness although they are just a L2 and they are bringing nothing unique and maybe that's only they need. Long lasting impact and image of them in user's minds so they would know Linea and start using it. The bot Memefi is also using Linea network to give reward if I am not wrong.

I was talking about such bots and your statement has made be believe that like you there will be many other people who will also hate Linea if they bring such bots but if they bring any they will get huge investments for sure but they can lose trust and their potential too.

[joniboini]

It could be just another L2, but due to Uniswap's strength, it could have a good appeal

Based on the screenshot that you shared, the features they listed can be found on most L2 projects so it's a bit hard to get excited from a technical point perspective IMO. But what can we say if the market moves based on hype/feelings, even meme tokens outperform ETH or BTC recently. At the very least it's probably good for short-term trading, as for longevity only time will tell.

I was talking about such bots and your statement has made be believe that like you there will be many other people who will also hate Linea if they bring such bots but if they bring any they will get huge investments for sure but they can lose trust and their potential too.

Yeah, I'd lose confidence if they do that without showing any unique development/feature. I think it's no surprise that people hate being used, especially when they get no rewards at all.

[ABCbits]

There's a new L2 in town 


Source

Unichain is from Uniswap
It could be just another L2, but due to Uniswap's strength, it could have a good appeal

250ms block time sounds insane. I doubt it's higher than ping between 2 country with longest distance. I haven't checked the detail, but it could stand out since it's created by Uniswap.

[ZAINmalik75]

Yeah, I'd lose confidence if they do that without showing any unique development/feature. I think it's no surprise that people hate being used, especially when they get no rewards at all.

You're right nobody wants to be used for anything but here we will get something but we think we are being used because I think our expectations from the Linea are higher and it's not even our mistakes. At the start, they introduced themselves as the next big thing so the hype was crazy and we all thought they could easily make us more than $1000 or $2000 in airdrop rewards.

If we lower our expectations then only we can be happy with the result for now I just hope they give us enough rewards that could cover the fee I spent and the time I gave to it. Many other airdrops came after this and they gave more rewards to people but this one is just delaying things. While I doubt if any unique development is coming.

[joniboini]

If we lower our expectations then only we can be happy with the result for now I just hope they give us enough rewards that could cover the fee I spent and the time I gave to it. Many other airdrops came after this and they gave more rewards to people but this one is just delaying things. While I doubt if any unique development is coming.

I think having a high expectation is justified, although it doesn't mean we should blindly trust whatever they're doing since it feels like they're trying so hard to earn more fees from us. I think we should learn from this and avoid spending so much on L2 projects that use airdrop as their main selling points. At the very least that's my takeaway from this and I'd be happy if I'm proven wrong and many people become millionaires from Linea's airdrop.

[ZAINmalik75]

I think having a high expectation is justified, although it doesn't mean we should blindly trust whatever they're doing since it feels like they're trying so hard to earn more fees from us. I think we should learn from this and avoid spending so much on L2 projects that use airdrop as their main selling points. At the very least that's my takeaway from this and I'd be happy if I'm proven wrong and many people become millionaires from Linea's airdrop.

They are trying hard to get more investment and funds last I heard they are trying to aim for some $1 billion TVL which is very high and now I have left any expectations from this project and after this I have merely joined any L2 airdrop because I was too disappointed in this one. When it started it created a craze among hunters.

Now all that craze is gone that's why I said we should lower our expectations now so we don't feel so bad when the results go out. I think people have made more from Dogs only and this Linea is still chasing targets.