Add Neo X blockchain on Moonwell Protocol

Proposals Community Proposal
1

Dear Moonwell,
I am a Fund Associate from Neo, we are a top L1 blockchain and are launching EVM chain in Q3 2024.

We are building out the ecosystem and need a Lending Protocol as a major part of it.
I understand that Moonwell has deployed its lending protocol across six blockchains, focusing on mainstream assets and LRT as the primary lending targets. This aligns well with Neo X’s lending standards.

We have grants / investment that we can provide, do you have a pitch deck?

We are engar to collaborate with you. So if you don’t see this message, I will contact your colleague.
We can have a call later too if you prefer.

Reasons for Neo EVM success:
First time Neo supports EVM
MEV resistance through cryptography
Established brand, supported by seasoned crypto OG whales
Robust TVL with our 2 tokens ranking in the Top 100 by marketcap

1 Like
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Thank you for your proposal, which has given me the opportunity to learn about a new blockchain. I did not realize that Neo has been continuously developed for so many years, which is particularly impressive in the ever-changing world of cryptocurrencies.

Firstly, congratulations to Neo on recently being listed on Upbit. I believe this is a great opportunity for more people to get to know Neo and will contribute to the overall increase in Neo’s value.

As far as I understand, Moonwell has deployed its protocol on three blockchains, not six. Additionally, Moonwell’s markets include mainstream assets as well as LST markets like cbETH and wstETH, but not LRT markets as you mentioned. I’m not pointing this out to correct you but to avoid any misinformation, especially if you expect the collaborating platform to have LRT markets.

According to my research on DefiLlama, excluding the Neo Burger liquid staking platform (which consists entirely of staked NEO), Neo’s current TVL is around $30 million. On the leading DEX, more than half of the TVL is in NEO and the platform’s own tokens. Based on this, deploying a protocol on Neo EVM, compared to Base, Moonbeam, and Optimism, does not offer significant benefits to the Moonwell community.

Furthermore, Moonwell aims to promote a simplified and straightforward user experience. Deploying the protocol on Neo EVM, if it requires users to use an additional Neo wallet, would add extra hassle and hinder the promotion of on-chain finance.

I am not a technical expert, so I do not know if deploying the protocol on Neo EVM would require different code from what we currently use. If it does, it would consume considerable resources and learning costs, which is not conducive to gaining further advantage in the existing market.

Could you address my concerns and outline your specific plans for this collaboration? Besides Moonwell, which other protocols have you invited if you could please share?

Thank you very much, and have a great weekend.

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Thank you for your congratulations.

Neo was established in 2016 and was once referred to as the Ethereum of China, reaching a peak global market value ranking of sixth. After more than eight years of development, we hasn’t given up on its progress in the blockchain industry. Neo is preparing to launch the Neo X blockchain in Q3 2024. In addition, the governance token is GAS.

I apologize. I’ve taken another look at Moonwell’s lending protocol and indeed, it operates on three chains and does not include LRT markets. The six chains I saw are embedded within Moonwell to provide a bridge for USDC.

Neo X has cooperated with some wallets, like the OKX wallet and Bitget wallet. So users will have a smooth experience. If we collaborate, we can deploy the wallet you want.

It’s not difficult to deploy protocols on Neo EVM. It is EVM compatible. And we have connected with three Lending protocols. We could schedule a meeting to discuss more details.

Looking forward to your reply.