Deploying Moonwell Protocol on Linea Network

Proposals Community Proposal
1

Summary

The ongoing Surge campaign (Supercharge the Ecosystem | Linea) on the Linea Network presents a unique opportunity for Moonwell. I propose that the Moonwell Foundation and community [WELL] votes to approve the deployment of the Moonwell Protocol on Linea. Leveraging Linea’s active initiatives and Moonwell’s strong security record, we can address user concerns, attract significant user engagement, and position Moonwell as a leading protocol on this rapidly growing network.

Objectives

Deploying Moonwell on Linea aims to:

  1. Position Moonwell as the primary lending protocol on Linea.
  2. Enhance user confidence by leveraging Moonwell’s strong security measures.
  3. Capitalize on Linea’s Surge campaign to boost user engagement and increase Total Value Locked (TVL).
  4. Benefit from future ecosystem rewards, potentially distributing them to Moonwell users and WELL stakers.

Linea Network Overview

Linea is ConsenSys’ first ZK Roll-up project, offering a fully equivalent EVM (Ethereum Virtual Machine) Layer2 network. It seamlessly combines high capacity, scalability, and low gas fees while providing developers with the same tools and infrastructure as the Ethereum network.

The Surge campaign, currently underway, is designed to amplify user engagement and boost TVL of the ecosystem, making this an ideal time for Moonwell’s integration.

Linea aims to reach a TVL of $3 billion, indicating a strong commitment to growing its ecosystem by attracting projects and users. This ambitious goal underscores the network’s dedication to fostering a thriving DeFi landscape.

Justification

Deploying Moonwell on Linea aligns with several critical goals:

  1. Market Leadership: The recent exploit on Velocore has left a void in user trust. Moonwell can fill this gap by offering a secure lending platform, thereby becoming the go-to protocol on Linea.
  2. Shared Values: Both Moonwell and Linea prioritize decentralization, security, and community governance. This shared ethos will foster a collaborative environment conducive to growth and innovation.
  3. Leveraging Linea’s Campaign: The Surge campaign offers a unique opportunity to increase Moonwell’s visibility. By aligning our deployment with this event, we can attract new users and significantly boost our TVL.
  4. Future Ecosystem Rewards: As Linea continues to grow, potential ecosystem rewards can be distributed to Moonwell users and WELL stakers, adding further value to our community.

Conclusion

Deploying Moonwell on the Linea Network during the Surge campaign offers a strategic advantage. This move addresses Linea’s current security concerns, attracts a significant user base, and increases TVL. By leveraging Moonwell’s strong security framework and aligning with Linea’s promotional efforts, Moonwell can establish itself as a leading protocol on this promising network. Additionally, the potential for future ecosystem rewards provides further incentives for user participation and engagement.

I invite the Moonwell community to support this proposal and look forward to the positive impact it will bring. Thank you.

5 Likes
2

I appreciate the thought and effort put into this proposal. However, I don’t believe deploying the Moonwell protocol on the Linea Network is necessary. Here are my reasons:

  1. Staying with the Superchain Members: Both Base and OP are part of the Superchain. Keeping our focus within this group helps us secure better support and funding, unlike many protocols that deploy across various chains without clear strategy.

  2. Maintaining Focus: Deploying on multiple chains can spread our resources thin and divert attention from improving our current networks. It’s essential to stay dedicated to providing the best service to our existing users.

  3. Uncertain Rewards: Relying on potential ecosystem rewards from Linea might not be reliable. For example, ZeroLend, despite being the largest lending platform on zkSync, didn’t receive any rewards after deploying on Linea. This shows that rewards are not guaranteed and might not justify the effort and resources spent.

In summary, while the proposal has merit, expanding to Linea Network could divert our focus and resources from our successful deployments. It would be more prudent to concentrate on strengthening our presence within the Superchain ecosystem, where we already have solid support and funding opportunities.

4 Likes
3

I support deploying Moonwell on Linea Network for several reasons:

  1. Increased Exposure: Deploying on Linea will help more people learn about Moonwell and its existing markets on Base and Moonbeam. It’s a great opportunity to further promote Moonwell.

  2. Mass Adoption: To drive mass adoption, we should seize every chance to educate on-chain users about better financial practices. This knowledge can then be passed on to their friends, expanding our reach organically.

  3. Decentralization Spirit: While I understand that the Superchain is currently running the Onchain Summer campaign, the essence of blockchain is decentralization. If we limit ourselves to a specific group and avoid exploring other networks, we hinder the broader adoption of blockchain.

Although I support deploying on Linea, I don’t believe the primary goal should be obtaining ecosystem rewards or attracting TVL during the Surge event. These funds may quickly move elsewhere after the TGE on Linea. Instead, I advocate for using our resources wisely to offer more choices to Moonwell users.

4

Although I would always be in favor of Moonwell going crosschain (L2s), it’s unlikely that this vote will be passed since Moonwell is heavily focused on the Super Chain narrative.