(This is an open discussion so drop your ideas!)
Briefly speaking, we now have many EVM chains,such as Near,Fantom and Celo, as well as Polygon and Abitrum.
Besides, Neon Lab is making Solana EVM compatible and EVMOS is making Cosmos(including Terra) EVM compatible.
So we’re actually facing a “Great Era of EVM”.So how should we react to EVM chains?Could be talking about one certain chain as a whole or specific projects/assets on certain chain.
Drop your ideas and let’s discuss.
After EUL distribution, scaling up will become a priority and that includes rollups and other chains.
First and foremost, what’s important for another chain is availability of Uniswap v3 oracles backed by sufficient liquidity, as our oracles are Univ3 TWAPs. If for eg Fantom has Uniswap v3 where DAI/WETH has a shallow liquidity pool, the oracle will be unreliable and hence vulnerable to attacks I’ve described here:
As far as I know, Polygon has decent Univ3 liquidity. Any other chains you reckon are also decent in that regard?
It would make sense to focus first on Ethereum L2s imo. The problem with going multichain to other L1s is also that the competition that is native to those L1s has a lot more firepower in terms of token incentives than any ETH protocol trying to go multichain.
Not sure how realistic this is from a technological point of view, but if Euler managed to pull off a true multichain approach (eg. collateral in one chain, borrowing in another) it would be a game changer.
I would agree that expansion should begin with major Eth L2s like Arb, Optimism. I’d also say the Eul team should investigate ZK-tech, particualr ZkSync and Aztec. We shouldn’t rush to deploy on many chains though. Given Euler’s commitment to decentralization I think the protocol should focus on launching on more decentralized chains (or chains committed to decentralizing)
man you are correct…liquidity is always the top factor!
hmmm…so polygan or abitrum?
as long as it can reduce trading cost, we should all take a look…L2 now seems top priority.i agree.
Arbitrum would be a nice bet in the future of L2s. and not a lot of competition in terms of lending protocols. I’m not sure if anything is doable at this stage on zk-sync, since they already have an open testnet available?
indeed but let’s see how zk finally turns out
avax maybe a good choice？
Multi-chain, low cost, easy to use
Maybe Moonbeam, Curve and Sushi already live on Moonbeam
Balancer has “friendly fork” approach when comes to multi-chain strategy, which is quite an interesting solution, especially if protocol set proper conditions for cooperation between original and forks.
Multi-chain strategy is an expensive move from the perspective of liquidity incentives and fragmentation, and I think that Euler as a brand should be implemented on at least one cheaper EVM chain while covering other markets through cooperation.
I think the ability for the users to list any asset (with certain uniswap liquidity) and incentivise them is one of Euler’s unique strengths.
In that respect, Polygon has its own ecosystem and variety of tokens so might be able to find a good product-market fit there. Caveat being there should be a strategy to bring Polygon users in, e.g., EUL incentives; the ability to vote for Polygon pools. (I do not know if Polygon provides MATIC incentives for protocols, but if they do that could be helpful too)
On this note, BSC might be an unpopular but lucrative market for Euler, as I don’t think BSC doesn’t have as credible lending protocol as Euler, and there are lots of long-tail assets. Caveats being no Uniswap presence (showstopper now) and impact to the branding.
Arbitrum or Optimism - curious to hear the team’s current view on how they see these two and which option is looking more attractive.
ZK-tech seems to have a strong future potential, so agree with @Proteus that the investigation of it would worth it. Personally, it will be quite exciting if Euler can become one of the first lending protocols to be available day 1 on one of ZK EVM mainnets (when that is live).
For security sake, it’s important not get distracted with trying to launch on multiple chains at once. But the project will get there soon enough. Euler has only been live on Eth mainnet for a few weeks really - considering it the soft launch strategy made it very difficult to borrow initially. Patience is a virtue!
Sure, it is a comment on the general multi-chain strategy, when it is already the thread title. I agree that there is no need to hurry, but I think that should be discussed, because the problem is not market expansion but high gas fees.
indeed…serucity is top, especially considering many issues on “bridges”.
If Solana become EVM Compatible, shall we consider Solana?
security is a top, and you consider Solana?