Polygon (Matic) is not beneficial to Ethereum and acts as a parasitic side chain soaking up its economic bandwidth ❌❌

While many Ethereum supporters blindly celebrate Meta Instagram’s move to launch NFTs on Polygon, they have been tricked and ignore that Polygon is no L2 and does not benefit Ethereum in its current form.

Polygon (Matic token) has launched a vampire attack on gullible Ethereum users/ investors by falsely labelling it as an Layer-2 solution and piggy backing off most of its infrastructure and hype associated with L2s. The marketing or better disinformation campaign of Polygon was well done and convinced many Ethereum investors that they are a L2, when the concept was very new. While this move is brilliant it is also malicious‼️

Unlike Arbitrum or Optimism, Polygon is in fact a side chain and therefore as much an L2 to Ethereum as Solana or other L1s like AVAX are (EVM-compatible chains, the latter also tried to position as a „spoon“ - a friendly fork). They barely burn a few $100s a day in ETH Gas fees (~6.5 ETH in 24 hours vs. >300 ETH by Uniswap alone).

Polygon PoS claims that the side chain architecture is temporary and that it will transition into a roll-up (e.g. Polygon zkEVM -> „Polygon Hermez“), but this remains highly questionable and potentially is another false flag. Roll-ups currently accrue little value and once they become big enough, they likely try to create their own L1s, there is no incentive for them to do this move.

There is no such thing as symbiotic relationship between Ethereum and Polygon as of today and in fact they soak up its economic bandwidth/revenue. It is nothing but a big Trojan Horse ???? and should be investigated very suspiciously by the Ethereum community going forward‼️