Opinions on Spectra Chain? BTC layer two but built on Eth?

Any opinions would be great on this new project that a member with a huge following on crypto twitter (@WolfAltCoin) has been pushing to his 200k+ followers since Friday morning. (Token address and twitter pages below)

Spectra Chain, claiming to be a BTC layer 2 technology but it’s built on eth. Not sure how to make sense of that. I bought in Friday at .015 sold today at .024, what scared me off was
1. The fact that there’s no info on the team
2. The project’s main twitter page has disabled replies to their own tweets.
3. Dexscreener and rug check sites give it a low score with a few concerning components.
4. Buy tax 5% & Sell tax of 5%
5. Lastly, I simply can’t comprehend how something can be branded as a BTC layer 2 but it’s built on Ethereum’s network.

Any help making sense of this would be much appreciated! Have a great Saturday night 👊

Token address
0x02020595e6a34a03a8e9c1f5624b1b7713810083

https://x.com/spectrachain?s=21

https://x.com/wolfaltcoin/status/1776765459225808962?s=46