About @RobinhoodApp Chain, here’s some stuff you might not like to hear: 1/ The team can upgrade contracts on their own, needing only 2/3 multisig approval to execute. All three multisigs are controlled by the Robinhood team. Plain speak: The team has unlimited room to act maliciously. In theory, they could freeze or transfer on-chain assets. 2/ The official sequencer is a privileged entity that can censor transactions. Users can’t bypass it to directly submit to Ethereum L1. Plain speak: The team could intentionally ignore or indefinitely delay specific transactions, effectively locking funds in L2. Users have no alternative way to withdraw. 3/ Fraud proofs are basically useless. Challengers need to be whitelisted, and only two EOA accounts controlled by the team are eligible to challenge. Plain speak: You have to trust the official challengers completely. If this privileged role goes offline and a malicious actor sends an incorrect state root to L1, there’s a huge risk of L2 funds being stolen. Summary: A product with zero guarantees. Note: I’m not intentionally spreading FUD, I’m just a messenger for @l2beat.