Moonwell is Coming to Moonbeam

Published date: January 18 2022
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Moonwell is an open lending and borrowing decentralized finance protocol on Moonbeam & Moonriver. Moonwell’s composable design can accommodate a full range of DeFi applications in the greater Polkadot and Kusama (DotSama) ecosystem.

Our first deployment will be on Kusama’s Moonriver, the sister network of Polkadot’s Moonbeam. Moonriver is where new products are expected to be incubated and developed prior to being deployed on Moonbeam.

Current Problems with DeFi

Virtually all DeFi platforms suffer from at least one of the following issues:

Lack of security and trust
Poor user experience
Lack of education and information
Poor community engagement

Moonwell solves all these issues.

Security & Trust

The DeFi space has seen countless hacks and exploits. Ensuring the security and trust of our users’ assets is our top priority.

Top security firms have agreed to audit Moonwell smart contracts to ensure the best security practices are followed. In addition, agent-based economic simulations allow the protocol to adapt and mitigate the risks of adverse economic conditions.

User Experience

Virtually every DeFi platform suffers from a poor user experience.

Users are immediately flooded with information that is both overwhelming and overly-technical. Even experienced crypto users have difficulty navigating through a typical clunky and unintuitive DeFi website.

Even first-time DeFi users will be able to use Moonwell.

Education & Information

Moonwell will be the well of knowledge for all things DeFi.

Pools, liquidity mining, liquidations, collateral, supported assets — there are a lot of important, technical topics that need to be understood when using a lending platform. Additionally, most crypto websites have information scattered across multiple different sources. This makes it difficult for new and existing users to stay engaged and updated on a project.

Anyone in crypto will be able to easily follow and use the Moonwell protocol. The community is encouraged to add videos, tutorials, user guides, and announcements to the Moonwell website.

You want to learn about DeFi? Visit Moonwell.

Community Engagement

The success of a project is largely dependent on the strength of its community.

While DeFi has revolutionized the global financial industry, most DeFi projects are uninspiring and fail to create engaged communities. Most of the discussions in DeFi telegram chats revolve around price and exchange listings.

We want to create a community where people freely voice their opinions and make impactful decisions. The Moonwell community is where people can share their interests, passions, and ideas with each other. We want people to join our discord and telegram not only for information, but also to simply have fun, hang out, and be creative.

Charity

While DeFi has affected people financially, there’s no reason it can’t affect people physically and mentally too.

Charity will be an integral part of Moonwell.

The Moonwell community will propose and vote for charities to support. Each charity will receive a portion of rewards for a selected amount of time.

Charity is no longer just an afterthought — it is an essential piece of Moonwell governance.

This is, Charity Governance.

Launch Strategy

Moonwell is the overarching brand for our two separate deployments on Moonriver and Moonbeam represented by Moonwell Apollo and Moonwell Artemis, respectively.

Moonwell Apollo will launch on Moonriver in Q1 2022.
Moonwell Artemis will launch on Moonbeam shortly after Apollo.

Moonwell, Apollo, & Artemis

Moonwell represents wellness in all forms — financial, physical, and mental.

The inspirations for Apollo and Artemis are twofold.

Missions to the Moon

Apollo represents the first missions to the Moon and Moonwell’s first deployment on Moonriver.

Artemis represents NASA’s return to the moon in 2022 and Moonwell’s later deployment on Moonbeam.

Greek Mythology

Kusama is the canary network of Polkadot and Moonriver is the sister network of Moonbeam.

Artemis is the twin sister of Apollo and goddess of the Moon in Greek mythology.

Why Polkadot & Kusama?

Polkadot is a Layer 0 blockchain that allows other blockchains (parachains) to seamlessly communicate and send assets amongst each other. Polkadot’s interoperability, security, and low transaction fees make it the ideal infrastructure for the multi-chain world of Web 3.0.

Kusama is Polkadot’s canary network.

Kusama’s lower barrier of entry relative to Polkadot has resulted in rapid innovation and growth with no signs of slowing down.

Why Moonbeam?

Moonbeam is the first fully Ethereum Virtual Machine (EVM) compatible parachain on Polkadot.

Moonbeam combines the best of both worlds:
Polkadot’s scalability & interoperability.
Ethereum’s Ease-of-Use and community.

Users, developers, and infrastructure providers already familiar with Ethereum can easily use, deploy, and build on Moonbeam while benefiting from the scalability and interoperability of Polkadot.

Moonwell Artemis, our Moonbeam deployment, will be activated by the Moonwell community once favorable economic conditions on Moonbeam are met.

Why Moonriver?

Moonriver is Moonbeam’s sister network on Kusama.

As the first EVM compatible parachain on Kusama, Moonriver has attracted numerous projects, developers, and users.

Moonwell Apollo, our Moonriver deployment, will be our first deployment given Moonriver’s already sufficient DEX liquidity and Chainlink oracle support. Moonriver is where new products are expected to be incubated and developed prior to being deployed on Moonbeam.