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I made a nice 4x return riding the Polygon hype, but the writing is on the wall for this project long term. It's going to get absolutely crushed when real L2s l
by yourabstraction 5y ago
I made a nice 4x return riding the Polygon hype, but the writing is on the wall for this project long term. It's going to get absolutely crushed when real L2s like optimism, atribturm, zksync, starkware, etc. get significant adoption (likely by this summer). The meme of it being a better BSC allowed easy dapp porting and a quick surge of liquidity, but just being a better BSC is not nearly good enough long term. Liquidity can flow out of Polygon just as quickly as it flowed in when better solutions are available.
I think their somewhat recent branding from Matic to Polygon was a distraction ploy to get users to think they'll be competitive in the true L2 space and grow beyond just having a seperate POS chain. They keep saying how they're not just one scaling solution, but a suite of scaling solutions, yet have released no evidence of any progress on implementing rollups.
From what I can see right now, it seems highly unlikely the team will have any kind of working rollup in the near future. Rollups are still bleeding edge tech, and most of the code from the teams battling in the space is closed source. As far as I'm aware Polygon outsources most of its dev work, while other L2 teams are stacked with industry veterans with deep knowledge in applied cryptography. Once enough of the rollup tech becomes open source, Polygon can copy it, but by that time it'll likely be far too late.