Avalanche 联合创始人警告：留意 Layer-2 项目中的这些危险信号

Red Flags to Watch Out for in Layer-2 Projects: A Warning from Avalanche Co-founder

Layer-2 项目中需要注意的危险信号：Avalanche 联合创始人的警告

What Should You Look Out for When Investing in Layer-2 Solutions?

投资第 2 层解决方案时应注意什么？

In the wake of the FTX debacle, crypto investors are on high alert for potential red flags. Avalanche co-founder Emin Gün Sirer has sounded the alarm on a new breed of risky Layer-2 (L2) projects that threaten to compromise investor funds.

FTX 崩溃后，加密货币投资者对潜在的危险信号保持高度警惕。 Avalanche 联合创始人 Emin Gün Sirer 对新型有风险的 Layer-2 (L2) 项目敲响了警钟，这些项目可能会损害投资者的资金。

The Infiltration of Substandard L2 Solutions

不合格L2解决方案的渗透

Gün Sirer points to the alarming proliferation of substandard L2 projects, which he believes represent the next major hazard in the crypto ecosystem. These projects, he argues, are often launched with little oversight, creating an environment ripe for exploitation.

Gün Sirer 指出不合格 L2 项目的惊人扩散，他认为这代表了加密生态系统中的下一个重大危险。他认为，这些项目通常是在几乎没有监督的情况下启动的，从而创造了一个成熟的开发环境。

Red Flags to Watch For

需要注意的危险信号

To protect investors, Gün Sirer has identified several red flags to watch out for when evaluating L2 solutions:

为了保护投资者，Gün Sirer 确定了在评估 L2 解决方案时需要注意的几个危险信号：

1. Misalignment Between Narrative and Technology

1. 叙事与技术之间的错位

Beware of projects that present a compelling narrative but fail to deliver on the technical side. Look for projects with a clear and verifiable technical implementation that aligns with their marketing pitch.

谨防那些呈现令人信服的叙述但未能在技术方面交付的项目。寻找具有清晰且可验证的技术实施且与其营销宣传相一致的项目。

2. Centralized Sequencers Without Fraud-Proof

2. 没有防欺诈功能的集中式排序器

Avoid L2 solutions that rely on centralized sequencers without fraud-proof mechanisms. This goes against the core principles of decentralization and security that are essential in cryptocurrency.

避免依赖集中式排序器且没有防欺诈机制的 L2 解决方案。这违背了加密货币中至关重要的去中心化和安全性的核心原则。

3. Token Sales for Fundraising Only

3. 代币销售仅用于筹款

Be wary of L2 projects that conduct token sales solely for fundraising purposes without a specific, practical use case for the tokens on the network. This is a classic sign of a dubious investment.

警惕那些仅出于筹款目的而进行代币销售而没有网络上代币具体、实际用例的 L2 项目。这是可疑投资的典型迹象。

4. Pre-Launch Native Token Sales by Founders

4. 创始人发起的预发行原生代币销售

A large volume of native token sales by founders before the project's launch is a major red flag. Regardless of the motivation, this practice raises concerns about potential manipulation.

创始人在项目启动之前大量销售原生代币是一个重大危险信号。无论动机如何，这种做法都会引起人们对潜在操纵行为的担忧。

5. Low-Float Tokens

5. 低流通量代币

Low-float tokens can be easily manipulated, allowing unscrupulous actors to artificially inflate their value. Avoid L2 projects with a significant number of low-float tokens.

低流通量的代币很容易被操纵，让不法分子人为地抬高其价值。避免使用大量低流通代币的 L2 项目。

6. Founders' Conduct and Morals

6. 创始人的行为和道德

Pay attention to the personal conduct and habits of project founders. Any form of misconduct should raise concerns about the integrity of the project.

关注项目创始人的个人行为和习惯。任何形式的不当行为都应该引起人们对项目诚信的担忧。

The Simple Authenticity Test

简单的真实性测试

In addition to these red flags, Gün Sirer proposes a simple test to help investors identify genuine L2 projects:

除了这些危险信号之外，Gün Sirer 还提出了一个简单的测试来帮助投资者识别真正的 L2 项目：

1. Identifying Blockers

1. 识别阻碍者

Start by identifying the key issues ("blockers") in the crypto space at any given time. For example, scalability and performance were significant blockers until solutions like Avalanche and Solana emerged.

首先在任何给定时间识别加密空间中的关键问题（“阻碍因素”）。例如，在 Avalanche 和 Solana 等解决方案出现之前，可扩展性和性能一直是重要的障碍。

2. Addressing Critical Challenges

2. 应对关键挑战

Assess whether the L2 solution you're considering offers a genuine solution to the current challenges facing the crypto ecosystem, such as supporting multiple use cases and integrating with traditional finance.

评估您正在考虑的 L2 解决方案是否为加密生态系统当前面临的挑战提供了真正的解决方案，例如支持多个用例并与传统金融集成。

3. Look for Projects with a Clear Value Proposition

3.寻找具有明确价值主张的项目

Invest in L2 projects that provide a clear and compelling value proposition, addressing specific problems or offering unique features that enhance the overall crypto landscape.

投资能够提供清晰且令人信服的价值主张、解决特定问题或提供可增强整体加密货币前景的独特功能的 L2 项目。

Conclusion

结论

By being vigilant and adhering to these guidelines, investors can navigate the treacherous waters of L2 project investments with greater confidence. Remember, the crypto space is still in its early stages, and there will always be risks involved. But by staying informed and exercising due diligence, you can minimize your exposure to fraudulent projects and maximize your chances of success.

通过保持警惕并遵守这些准则，投资者可以更有信心地应对 L2 项目投资的危险水域。请记住，加密货币领域仍处于早期阶段，总会存在风险。但通过及时了解情况并进行尽职调查，您可以最大限度地减少欺诈项目的风险并最大限度地提高成功的机会。