Coin Edition -
- Polygon Labs CEO Marc Boiron raises his voice against Layer 3 networks in his recent X post.
- Boiron cautions that the L3 networks will take away Ethereum’s value and pose potential risks to security.
- The criticism follows the memecoin project Degen’s low-cost L3 blockchain, Degen Chain.
Polygon Labs CEO Marc Boiron has reportedly denounced Layer 3 networks in his recent X post. He spotlighted the potential risks of Ethereum losing its security with the advancements of L3.
I’ll say the quiet part out loud: L3s exist only to take value away from Ethereum and onto the L2s on which the L3s are built. *You do not need L3s to scale*And this is why Polygon Labs does not work on L3s.— Marc Boiron (@0xMarcB) March 31, 2024
Boiron’s criticism comes on the heels of the Degen ecosystem’s launch of Degen Chain, the low-cost Layer 3 blockchain. The Base network’s memecoin project Degen recently introduced Degen Chain, built using Arbitrum Orbit and AnyTrust DA. While the project received wider acceptance from the public, some prominent figures including the Polygon Labs CEO criticized it.
According to Boiron, the introduction of L3s will ultimately nullify the value of Ethereum. He asserted that the existence of L3s will only contribute to “take[ing] value away from Ethereum and onto the L2s on which the L3s are built.”
Highlighting L3s as a futile and disappointing launch, the Polygon Labs CEO cited, “You do not need L3s to scale.” Further, he publicly declared that Polygon Labs will never adopt Layer 3 networks.
However, not everyone agreed with his viewpoints. OxWenMoon, a prominent voice in the blockchain space, responded to Boiron’s post stating,
“I don’t think this is right, but even assuming it is, there is no such thing as “taking value away from Ethereum and onto the L2s”. L2s on Ethereum ARE value on Ethereum.”
Though Boiron agreed that L2s are Ethereum, he had disagreements with the idea that L2 values are Ethereum’s values. He reinforced his notions, citing, “If all L3s settled to one L2, then Ethereum would capture basically no value and, thus, Ethereum security would be at risk.”
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