Apollo Future Ideas

Hi guys

with the ongoing multichain hack or whatever is happening right now, i would like to invite you to a discussion for the future of apollo. Bc i dont think anyone trusts again multi assets :pensive:

please just share your ideas or possibilities :v:t4:

  • new bridge
  • xc tokens
  • layerzero
  • compensation plan & burying apollo :cry:

hopefully some team members, advisors & ambassadors will share their opinions :blush:

always the same tiresome topic :bridge_at_night::fu:t3:

Nice wknd & cheers :beers:

I think this issue is of the utmost importance for the very survival of Apollo. To me the main problem is the lack of liquidity in the protocol caused by the absence of a stable offer. In order to overcome it, is necessary to find a bridge that replaces Multichain. I want to check if there are enough members of the community in favor of actively pursuing a partership with Thorchain, which owns a technology to natively swap tokens and is therefore more secure than traditional bridges. Hit me!

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Hi Jan

Sounds good, but tbh i have no idea about thorchain :confused: and idk if our multi assets have still some value

Overall i have to say i‘m highly disappointed by the moonwell team and community, mw has at least 5 team members, 5 ambassadors & 8 advisors and nothing is coming from this guys , i wrote messages after the first problems with multi to bridge out our reserves and 0.0 support from noone!
I guess our assets are worthless now.

Please just 1 idea from team, ambassadors or advisors :pray:t3:

Hi Oxrobinhood,
Yes, I agree, the situation is sad and the lack of communication is sadder. To be fair, the problem with Multichain wasn’t caused by Moonwell, but to rely on one single bridge is neither a good nor a safe idea, so I thought that they were already working on solving this problem even before the Multichain issue. Apparently not. I launched this idea to see if there was any response from team members and ambassadors, but so far nothing. Let’s see.

Thank you for your effort, Jan :clap:t2:

It’s been a critical time for Moonriver & Apollo for a long time and I think it should be logical that the community needs support from Team, Ambassadors & Advisors at this time… when then ? if everything goes perfectly, the Moonriver Apollo community members are the first to try to expand the community

do you remember ? moonwell achieved a sell out public sale ( during :teddy_bear: ) from moonriver/apollo community members only​:v:t4: I hope that hasn’t been forgotten :face_with_peeking_eye:

Let’s see, some help would be appreciated :innocent:

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Hey @0xrobinhood and @jan5442 ,

Moonwell Apollo was the first deployment of Moonwell and it will always hold a special place in the hearts of many in the Moonwell community. That said, there’s no denying that it’s been a challenging time for the entire Moonriver ecosystem. Moonriver’s challenges unfortunately extend further than just the Multichain bridge exploit.

The hope is that the Moonriver and Moonwell Apollo communities can work toward filling the void left by Multichain by helping to onboard a new, trusted bridge partner into the ecosystem. That said, maybe the Moonwell Apollo community doesn’t want a new bridge partner, maybe they want to focus squarely on native assets and xcm based LSTs like xcvKSM and xcvMOVR. My point here is that ultimately Moonwell Apollo is a decentralized protocol on a decentralized network and the broader community will need to come together to decide the best path forward. Your post is a great start to get the ball rolling and begin solutioning.

On the topic of communication, there has actually been quite a lot on Twitter, Discord, Telegram, forum posts and analysis of the situation from Moonwell contributors Gauntlet and Warden, multiple governance proposals from Gauntlet, etc

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I shared this discussion in every Moonbeam/Moonriver and Moonwell channel and gave @majin a hint that he is the Moonwell community manager :wink:

Lets see :popcorn:

Glad you are alive :face_with_hand_over_mouth:

You are a Moonwell Core contributor but also a community member, so you can also share your own ideas with us, you obviously know more about the problems with Moonriver than other community members :face_with_monocle:

mr. @majin because apollo has a special place in my heart too, i’m taking the time during my holidays to share 3 ideas for the future of the Apollo community with you :smiling_face_with_three_hearts:

in no particular order and sorry for technical errors, i’m not a developer, i’m here because i believe in Moonwell’s vision of open finance for everyone :love_you_gesture:

  1. XC-Tokens Strategie

we focus on xc tokens and Kusama ecosystem solutions. Kusama has an xcUSDT like polkadot, unfortunately I didn’t find any liquidity data, but we could help with the Apollo treasury to build up the first dex liquidity and then grow step by step. karura/acala also has a bridge to other eco’s outside of kusama, that would also be a possibility, although karura is probably on shakier legs than moonriver. to implement the first step and add xcUSDT as an asset to apollo, we would only have to work together with dex partner solarbeam, the necessary infrastructure is already available (kusama asset hub ↔ Moonriver). of course, the gauntlet prerequisites for an asset listing remain the same. if this mission is successful then of course other xc assets can be added although i doubt it, i remember the rmrk plan and we failed at the required dex liquidity from a 200m market cap asset. The good thing about this strategy is that it would not conflict with other teams looking for a bridge solution and it doesn’t need any special effort from moonbeam/river. the negative would be that we would isolate ourselves from other eco’s, but maybe that would be a chance to become the absolute leader in the kusama space and to motivate developers to build something special, like order book lending/borrow, revenue share, etc…the risk of losing funds ( bridge out ) in such a closed system would be smaller, imo ( again not a dev )

  1. Active Search for a Bridge Partner

we are beginning to actively look for a bridge opportunity. for this we would have to have the support of moonbeam, solarbeam etc and also sacrifice part of our treasury for the development costs. we can provide a bounty or something similar and thus “buy” a bridge solution as @jan5442 suggested. As I said, we would need the support of several eco system partners and also a lot of research into which options there are that would help us strategically to build up tvl. we don’t need a second “multi bridge”. As I said, I’m not a dev, I’m a mechanical engineer, I build machines that produce gearboxes for your cars. the fact is that this path would mean an enormous community effort and to be honest, i don’t see how it could be done without the help of a powerful person in a normal amount of time.

  1. We do nothing + :heart: for $Mfam

as @majin said, apollo and moonriver are decentralized protocols and apollo is in all our hearts :yawning_face: . what does decentralized mean at this moment? everyone can do what they want or simply do nothing at all. how we did it. We can wait longer, there is no obligation to offer more assets on Apollo. As long as the “first Movr benefit” remains, everyone is happy with the supply/borrow of MOvr&ksm :money_mouth_face:
Maybe in the near future the market will calm down and suddenly Canary Networks will be back in vogue and teams will take care of it again :star_struck: the protocol runs quite normally and in an emergency Gauntlet & Warden are still here. no need to do anything :sunglasses: . But that’s not really how you treat someone who has a special place in their heart :mending_heart: . someone you have in your heart you want to have with you on your further journey, so my suggestion is to reward Mfam holders with $WELL for the valuable services we have provided to bring Moonwell to where it is today. As I mentioned before, the first Apollo & Movr community members are mainly responsible for the successful launch of Moonwell. It is only logical to have these faithful contemporaries with you on the spaceship for the further journey. I have not yet thought about any possible reward for MFAM holders, logically this has to be discussed with the well holders first.

hopefully we can have a constructive discussion about the future of Apllo, with lots of opinions from other community members, Contributors, Ambassadors & Advisors.

I’m curious about your opinion @majin , but now I have to get back to the pool quickly, I almost missed the happy hour :beer: :otter: :parasol_on_ground:

Feels good to see some action in this forum! Thanks @majin and @0xrobinhood for the contributions. Another post has been added recently to start a discussion about allowing MFAM holders to participate in the new Base Moonwell. I think this could be another solution. One thing is for sure, we cannot just let Apollo die without a fight!