/biz/ - Business & Finance

> Chain halted this weekend
> Record holding 157 block reorg this weekend
> Chain barely works on a good day
> Not an L2, just a larping L1 that barely works
> 5/6 Multisig controlling the network
> Polygon labs proven to washtrade all their volume
> Blew through half of their cash reserves this year (200m) and had to lay off staff
> Stopped honoring grants
> Pays eight figures in tokens for "partnerships"

Unsustainable hype machine with nothing of value behind it will collapse soon. The money printer is out and they can no longer afford to pay for forward momentum. Rotate out anons

> Be Polygon
> Blow through half of your funding in a year (200m)
> Lay off 20% of staff
> Get reorged for 157 blocks
> Chain completely halts
> Tweets out that the erra of alt-l1s is over despite being an alt-l1

Is this the future of finance?

>>53444538
Imagine trusting 5 Indians with a multi-sig with your net worth. You think that any real financial application is going to build on that LMAO

>polygon
>top 100 addresses have 90% of the supply
>top 10 addresses have 75% of the supply
>top 3 entities control over half the supply of staked matic
>just 6 admin keys required to change the entire network at any time
>only 100 total validators
>33tps for a centralized shitcoin
>hacked multiple times
>blockchain shut down for 11 hours straight
>VC pump and dump
>10 reorgs a day
>TVL is all fake (two pajeets on Solana were recently caught doing the exact same thing with fake dapps on Solana, making up over 75% of the TVL during the bull market)
>entire network is fake and propped up by bots

>>52864959
Because Matic is insanely overvalued. They raised more money than Solana, spending it all on massive "partnerships" that look good for marketing.

> Pay Disney for a "partnership"
> Get hype and get people to buy
> Never hear from Disney again

The other hype angle is being an "L2" for Ethereum which is an obvious lie. Their tech is abysmal, and reorgs are constant. Better to sell now while the market is retarded, then wait for this house of cards to fall and sell at 30% of todays prices.