Deploy Venus Protocol on OP Mainnet

Proposals
1

I, Mark Gerhart, a contributor to the Optimism Collective, propose the expansion of Venus Protocol to OP Mainnet. OP Mainnet’s infrastructure ensures transactions are processed in mere seconds, often at a fraction of the cost compared to other networks, all while maintaining high-security standards. By deploying on OP Mainnet, Venus would be eligible for Optimism’s Retro Funding, which has dedicated 850M OP to application developers and core contributors to Optimism Collective. In this way, deploying on OP Mainnet allows for both an enhanced user experience and open access to a sustainable funding mechanism for the Venus Protocol to advance product development.

Motivation

Deploying on OP Mainnet offers significant benefits for Venus in terms of user acquisition and overall user experience. The frictionless experience on OP Mainnet, characterized by its fast and inexpensive transactions, will attract more users to Venus Protocol. Additionally, the strong ecosystem and growing user base on OP Mainnet present ample opportunities for Venus to expand its reach and influence within the DeFi space.

Benefits of Deploying on OP Mainnet:

  • Fast and Cheap Transactions: OP Mainnet’s high throughput and low cost transactions create a seamless user experience, encouraging more frequent and larger volume transactions…
  • Ecosystem and User Base: OP Mainnet boasts a 650M+ TVL, reflecting a robust and engaged user base. This vibrant ecosystem provides a fertile ground for Venus Protocol to attract and retain users, contributing to the overall growth and stability of the platform.
  • Interoperability: Optimism started as a single L2 chain and evolved into the largest and fastest-growing ecosystem with a mission to scale Ethereum’s technology and values. Optimism’s Superchain is a vision of a composable, unified network of blockchains that can support internet-level activity, powered by the MIT-licensed open source OP Stack. OP Mainnet will be one of the first interoperable chains on the Superchain.
  • EVM Equivalence: OP Mainnet is fully EVM equivalent, meaning that any Ethereum-based smart contracts can be deployed without modifications. This ensures seamless integration and compatibility with existing Ethereum infrastructure, making the transition to OP Mainnet smooth and efficient for Venus Protocol.

Risk Analysis

To ensure the security and integrity of the network, OP Mainnet has undergone extensive audits and security testing. These measures include rigorous code audits, penetration testing, and continuous monitoring to identify and mitigate potential vulnerabilities. Our commitment to security ensures that deploying on OP Mainnet will be a safe and reliable choice for Venus Protocol.

Key Discussion Points

  • Venus Deployment Timeline: Detailed timeline and milestones for deploying Venus Protocol on OP Mainnet.

User Acquisition: Strategies and initiatives to attract and retain users on Venus Protocol post-deployment on OP Mainnet.

8 Likes
2

Looking forward to this one.

1 Like
3

OpBNB is rightfully noteworthy as a speedy and safe chane. I think that our users will only get better from the expansion of opportunities.

4

Good morning everyone,

While our chain expansions have been a positive step, the outcomes and traction have been less than expected.

I suggest we consider a different approach and focus on the following:

  1. Treat chain expansion as a new project: Can we view our chain expansion as a whole new project and launch?
  2. Establish a dedicated team: Set up a dedicated team to ensure that new chain launches are conceptualized, planned, and executed with all the necessary vibes, news, and partnerships. For example, Lista DAO recently launched and has already surpassed our ETH chain because they are fully committed and focused. Danny is doing a great job, but we need a specific project team with clear KPIs and deliverables, along with strict timelines for launching on each chain. We have unique advantages that others don’t. Why are we struggling to grow at 2x when we have the potential to grow 10x?

I am not excited about the OP launch if it is going to be another Opbnb or Arb with high expectations but no traction. I apologize if I don’t sound as enthusiastic as I have in the past about new launches.

Have a great day all.

5

Have to agree that it would be nice to get the Op chain but the biggest question is about the traffic + what we may do to make this traffic higher.

The opinion above seems to be logical. It’s not easy to promote so many things in so many different communities. Would be nice to have some inside, for example a group of enthusiasts on the OP which could lead the way.

6

Very supportive for this proposal. Let’s integrate OP Mainnet into Venus !

7

I look forward to Venus protocol being deployed on the OP mainnet!