Does the project team have plans to promote themselves in other networks? soon there will be many new ones and we could occupy space for ourselves. All successful projects are known in many networks, and although we are quite successful in two, apparently in general we are not successful at all globally if we still have such a meager capitalization. Therefore, apparently we need new ones listings and new networks.
We definitely need marketing and CEX listing, else this great technology will not be known.
With the currently market cap people think it either a rug pull or scam.
cant understand how project with so many coins for staking can have so small capitalization,looks like smt wrong
if coinbase does not support us as another project in the base network, then what is the point of clinging to one network? since all the new networks are l2, I don’t think it’s a big problem to interact with others
Moonwell’s already on several networks (Base, Moonbeam, and Moonriver). Which network do you think Moonwell should expand to next? Any specific suggestions and explanations would greatly contribute advance the discussion.
any new ,large one (linea,zksynk,scroll,starknet,zora) they all L2 so EVM compatible.If only TVL grow ,but not price we should made conclusions from this and change something. I’m personally glad that BASE is happy that our TVL is growing very well, but I would be no less happy if the price grow to at least the ICO price, otherwise it would be a real shame. At the moment, I’ve been an investor for 2 years now, there’s nothing to be happy about
Thank you for the thoughtful post. I believe you are absolutely correct and we should strategically target more L2s in 2024. There are a couple infrastructure improvements landing soon that will make this possible:
- The WELL token is going to adopt the new xERC20 standard, which will enable it to be fungible on multiple networks. This work, being performed by Moonwell contributor Solidity Labs, is already in progress here and is just wrapping up audit with Halborn Security and formal verification with Certora. We hope to finish in early January.
- Once WELL is a multichain token, we’ll be able to enable “vote from anywhere” and “stake from anywhere” so that users on L2 networks like Base, Optimism, Arbitrum, etc, won’t have to unwrap their tokens to participate in governance, or stake.
- This will also enable us as a community to adopt improved tokenomics models, which we’ve been researching lately. The basic idea I think we are coalescing around as a community is that WELL stakers that vote and help secure the protocol should be rewarded more than LPs that simply “farm and dump.”
Once WELL becomes a multichain token, all of these things are possible, and I’m excited to help build this future alongside you. Please let us know which networks we should prioritize for 2024 and beyond.
To begin with, I would like to thank you for your interesting and extensive answer!
If I may, I would like to ask in simple terms, is this new technology a personal development of Moonwell or is it someone else’s development? I ask because Stellaswap already uses Primeprotocol with the same technology (X-chain). The essence of my idea is that Moonwell should become independent from any networks, and there we are still tied to Moonbeam-Polkadot. In my deeply personal opinion, people use their liquidity where they have some positive emotions, so the liquidity remains within the ecosystem and it is unlikely that someone will want to stake in simple terms in one network and then borrow in another with negative reviews.
As I see it $12.17M
of liquidity is locked in Prime across 8 networks…from this we can probably say that somehow it doesn’t work very well? Why not just support other L2 networks? I apologize if I understood something wrong somewhere. Thank you!