Currently, Moonwell operates on several networks, but it has yet to leverage the potential of the BOB network. By deploying on Build_on_BOB, Moonwell can take advantage of its unique features such as improved scalability, faster transactions, and lower fees. This move would not only enhance the user experience but also attract new liquidity and lending opportunities.
Thanks for this post. BOB is superchain aligned and might be a good network to consider as Moonwell expands across the superchain.
As a community, we’ll need to make some data driven decisions about where we expand in the coming months. There are a number of new and existing networks that we might consider, and Optimism is building interoperability so that tokens will be able to flow between networks in the coming months.
For example, the following new L2 networks are launching soon:
- Soneium - Sony Corporation is launching an OP stack L2
- Unichain - Uniswap is launching an OP stack L2 so they can unify all of their DEX liquidity on a single network
- SOON - SOlana Optimistic Network is launching an SVM-compatible OP stack L2 on Ethereum
- [REDACTED] - A big player is also launching an OP stack L2 you’ll hear about on Thursday
Let’s keep an eye on these and track the TVL, users, assets, and metrics so we can prioritize which networks make the most sense for Moonwell to expand to in the near future.
@nomishow do you have some metrics you can share about BOB? It’s very cool to see they have Velodrome there already… I see their DeFi Llama page here: https://defillama.com/chain/BOB
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yes for sure https://explorer.gobob.xyz/ and https://dune.com/bob_collective/overview BOB is the first hybrid L2 connecting Bitcoin security with EVM liquidity.
I am in favor of the order from the example list. While more challenging, is it worth exploring more CCTP member chains broadening USDC anywhere?
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Akismet hidden my post with data
Yes, we should definitely figure out how to integrate USDC Anywhere lend/borrow to Solana… it’s going to require more effort because of the SVM differences, but it would be awesome to be able to attract Solana users into our community.
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Do you think there should be a framework developed for pursuing new chain integrations? If so, what metrics should be targeted? It’s clear to me that growing networks in the superchain are promising to launch in, but at the same time, I could see an asset-based approach.
BOB is a relatively small L2, and is very new; however, I think there is some promise in expanding there. BOB advertises itself as a Bitcoin L2, and contains a large amount of Bitcoin liquidity. In fact, around 75% of the TVL on BOB is bitcoin-backed. 3/5 of the top assets on the chain are BTC-backed. eSOV, WBTC, and tBTC, form about 74.6% of that activity, with the remainder filled in by ETH and stablecoins. Moonwell seems to have had some success with the cbBTC launch and integration, and maybe there could be some ground to be gained with a Moonwell implementation on BOB. While BOB may not be a prospective chain in the sense that it’s the next Arbitrum, it is a center for Bitcoin activity right now, and so it may be advantageous to grow Bitcoin liquidity of Moonwell by positioning there.
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BOB is broadening the Superchain ecosystem, providing access and exposure to the massive growth opportunity in BTC DeFi and staking. Let’s grow together…
The Hybrid L2
BOB’s hybrid Layer-2 combines Bitcoin’s security with Ethereum’s flexibility, addressing Bitcoin’s growth challenges like limited smart contract capabilities, weak interoperability and bad UX. BOB’s trust-minimized model connects BTC with EVM DeFi, enabling seamless access to a vibrant DeFi ecosystem. Features like 1-click Bitcoin staking, user-friendly onboarding, best in class developer tooling will simplify BTC DeFi participation on the Superchain for users and builders alike.
BTC DeFi on the Superchain
BOB will now serve as the premier destination for BTC DeFi within the Superchain ecosystem, thanks to its direct integrations with Top Bitcoin staking layers such as BTC liquid staking tokens (LSTs) including Solv, Bedrock and Pell, plus leading infrastructure providers such as Cobo and FBTC. In total, BOB’s ecosystem already comprises 40 live projects with 60 more in development on testnet, accounting for a DeFi TVL of over $65M+ USD.
Benefits To The Superchain:
- Bitcoin DeFi on the Superchain: BOB opens access to unique Bitcoin-based DeFi products, like Liquid Staking Tokens (LSTs), Ordinals, Runes, BRC20s, BTC-backed stablecoins and tokenized hash rate… the list goes on. With support from top Bitcoin partners, BOB is set to drive significant growth within the Optimism ecosystem.
- Onboarding Millions of Users On-Chain: Bitcoin’s large, diverse user base has been limited by UX challenges, pushing users to centralized platforms. Now, BOB on the OP Stack brings improved UX features like smart accounts and social recovery to help Bitcoin teams bring millions on-chain without barriers.
- Bringing More Real-World Businesses to the Superchain: Bitcoin remains the most widely used asset in real-world applications. Combining OP Stack’s best infrastructure with BOB’s specialized BTC tooling—like BOB Stake’s 1-click BTC portal and SDK—enables businesses currently using BTC via centralized providers to transition to an on-chain, decentralized ecosystem.
“BOB is tapping into the strength of Optimism’s OP Stack to help scale Bitcoin-based financial applications to new heights. We’re pleased to welcome BOB to the Superchain ecosystem, and look forward to supporting their growth as a Bitcoin-focused L2 that harnesses the power of Ethereum’s infrastructure,” said Smit Vachhani, Business Development Lead at Optimism Unlimited.
Benefits To The BOB Community
- Retro Funding Eligibility: Projects on BOB can now apply for Retro Funding from the Optimism treasury, providing critical support for innovative initiatives within the ecosystem.
- OP Airdrop Qualification: Users on BOB may become eligible for future OP airdrops, unlocking additional incentives and rewards.
- OP Chain Grants: BOB will have the opportunity to apply for Optimism grants, allowing the BOB Foundation to distribute OP token grants to promising projects on the platform.
“BOB’s membership of the Superchain will advance BitcoinFi and DeFi, opening up new growth and integration opportunities across the ecosystem,” said Alexei Zamyatin, co-founder of BOB. “We’re excited about the potential impact of our hybrid L2 model, combining the best of both Bitcoin and Ethereum, and remain committed to delivering the best place to use and build with Bitcoin, enhancing developer tools and user experiences with initiatives like Retro Funding, OP airdrops, and chain grants.”
OP Airdrop #5
BOB’s membership of the Superchain makes BOB network participants eligible for OP Airdrops. In fact, precisely 6,386 BOB community members are already eligible for a share of OP Airdrop #5. We hope to see this number increase for future OP Airdrops. By building together, the BOB community benefits too.
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