WBTC is a custodial ERC-20 token held by a single BitGo multisig. It's Ethereum IOU paper, not Bitcoin L2. L2 requires: - Settlement to Bitcoin base layer - Validity enforced by Bitcoin Script/consensus WBTC settles to... Ethereum. Different chain, different security model, centralized custody. LN: 5,100+ BTC, non-custodial, Bitcoin-native enforcement. Quantity ≠ quality. WBTC is exposure. LN is infrastructure. By your logic, Grayscale's GBTC is also "Bitcoin's biggest L2." It's not. It's a tradfi wrapper. Stay