on L2s and their success:
from 2024, there were dozens of L2s that raised significant money. tbh im all up for L2s and some of them like @megaeth_labs @base @arbitrum @zksync @0xPolygon are best in the class on the tech side and marketing/bd side.
however, it is not an easy business, and you cant just build it because you feel like it.
when you are launching your own L2, there are 100s of things you need to care about:
- technical perspective and edge over competitors
- you need to hire marketing team, engineers, BD, ecosystem, growth, devrels etc
- you need to attract builders to build dapps on top the chain
- you need to run incentivized programs
- events, PR, storytelling
- 5-10 usable, great app backed by great VCs and built by excellent founders
- grants program
- defi channels and bridge integrations to bring in liquidity
- all while your founder and your team doesnt crash out before and after tge
there are so many moving parts to building an L2, yet everyone thinks that it is the easiest thing to launch.
soon we will see majority of them winding down. it is sad to see, but markets favor meritocracy.
half of the l2 companies are disappearing.
we now have to wait for a few of the others to disappear. you can’t sustain a business by releasing media outlets and CT grandiloquent releases when your code is unusable and impossible to read.
3.85K
29
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.