The last several weeks have been challenging for crypto, web3 and DeFi, but even in the darkest of times, green shoots of life emerge.

🌱 One new blossoming ecosystem is @MoonbeamNetwork - an EVM compatible parachain on @Polkadot.

Let's explore! 🧡 (not financial advice)
@MoonbeamNetwork @Polkadot What makes @Polkadot unique? Parachains and shared security. Parachains are distinct L1 networks that can support any use case. Proof of stake validators on the L0 relay chain provide shared security to all parachains and can pass messages between them.
@MoonbeamNetwork @Polkadot In case it isn't obvious, this gives @MoonbeamNetwork and other parachains superpowers:

πŸ’Œ Send messages and communicate between apps
πŸ’Έ Teleport tokens and NFTs between parachains
🏦 Mint digital assets that can be used on all parachains
🚫 Reduce or eliminate bridge risk
@MoonbeamNetwork @Polkadot The incredible builders at @Web3foundation have been working on this multi-chain, shared security vision of web3 for almost a decade. Against all odds, they have completed the original sharded vision of Ethereum 2.0 before the Ethereum community did.
@MoonbeamNetwork @Polkadot @Web3foundation Early DeFi visionaries like @0xMaki saw the potential and began building on @MoonbeamNetwork last year, before much of the infrastructure was ready, but I'm here to tell you, now it's ready!
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki The incredible builders in the @MoonbeamNetwork community have been busy, creating a blossoming DeFi ecosystem. Being Ethereum compatible means you can expect some of the best Dapps. Here's @StellaSwap - the leading DEX on Moonbeam:
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap Liquidity is the lifeblood of a DeFi ecosystem, and @StellaSwap has some great rewards to help bring more liquidity.
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap What about OG DeFi builders like @samkazemian and @FraxFinance ? Moonbeam has FRAX natively, and their team is hard at work on a new TWAMM primitive called Fraxswap:
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance Newer algo stablecoins like $MAI and @QiDaoProtocol are also launching on Moonbeam - a healthy DeFi ecosystem has multiple fiat-backed and algorithmic stablecoins:
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol For those of us coming from Ethereum, bridges are important, and new optimistic interoperability protocols like @nomadxyz_ enable you to bring liquidity from other L1s with unprecedented levels of security and trust minimization.
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ As a proof of stake L0, the @Polkadot relay chain provides shared security to all of the parachains, including @MoonbeamNetwork. The leading liquid staking DAO, @LidoFinance supports liquid staking of $DOT, powered by Moonbeam!
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance Remember how Polkadot enables minting of digital assets that can be transferred between parachains? This makes @MoonbeamNetwork the best location to mint assets like stDOT (liquid staked DOT), enabling them to reach every parachain.
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance Another important piece of DeFi infastructure is @Chainlink - their price oracles enable many DeFi applications, such as lending, by providing accurate price data feeds. Chainlink is now live on @MoonbeamNetwork!
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink Finally, a flourishing DeFi ecosystem would not be complete without money markets and lending. That's where @MoonwellDeFi comes in. Moonwell Apollo has been live on @MoonriverNW since February, and has an incredible roster of contributors... 😊
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW The @MoonwellDeFi community is almost ready to activate Moonwell Artemis, which will bring high quality, audited money markets to @MoonbeamNetwork - rounding out a robust DeFi ecosystem, and enabling Moonbeam to thrive during the next market cycle.
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW What makes @MoonwellDeFi unique?

πŸ§‘β€πŸ€β€πŸ§‘ Team has deep crypto experience with contributors from @coinbase
πŸ”’ A security first approach, with continuous auditing from @HalbornSecurity
🏦 A focus on credit risk management and economic security with @gauntletnetwork simulations
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW @coinbase @HalbornSecurity @gauntletnetwork Our team has been building in DeFi since before DeFi summer. It started at a hackathon in Fall 2019, hacking with the @compoundfinance team, we built the first price oracle, before Compound adopted Chainlink: (hard to believe DeFi TVL was <$1b then)
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW @coinbase @HalbornSecurity @gauntletnetwork @compoundfinance With a strong focus on security, we engaged the team at @HalbornSecurity and hired them as a long term security advisor. They have completed multiple audits for us, and with their mitigations, we avoided the reentrancy attacks that hit other protocols.
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW @coinbase @HalbornSecurity @gauntletnetwork @compoundfinance In the current DeFi landscape, credit risk is top of mind, with the recent failure of CeFi lenders like @CelciusNetwork. We've always taken economic security as seriously as smart contract security, and have recently engaged with @gauntletnetwork, the leaders in risk management.
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW @coinbase @HalbornSecurity @gauntletnetwork @compoundfinance @CelciusNetwork We also invest heavily in data and analytics so we can better understand the book of loans. For example, by using tools like @graphprotocol and @retool we quickly created an app that lets us track the health of the entire book of over 2,800 loans:…
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW @coinbase @HalbornSecurity @gauntletnetwork @compoundfinance @CelciusNetwork @graphprotocol @retool I'm a co-founder of Lunar Labs, one of the core teams contributing to Moonwell. We've successfully raised multiple years of runway with some of the best investors, and are here for the long haul, in bear or bull market conditions.…
@MoonbeamNetwork @Polkadot @Web3foundation @0xMaki @StellaSwap @samkazemian @fraxfinance @QiDaoProtocol @nomadxyz_ @LidoFinance @chainlink @MoonwellDeFi @MoonriverNW @coinbase @HalbornSecurity @gauntletnetwork @compoundfinance @CelciusNetwork @graphprotocol @retool We are in the last few days before the community activates Moonwell Artemis on @moonbeamnetwork. It's been an exciting journey that we've all been on, and we can't wait to take this next step in our adventure.

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More from @LukeYoungblood

Dec 22, 2021
I keep getting asked what web3 is. 🧡
I can send money to my family overseas without paying over 10% in fees and getting cheated by criminally convicted @WesternUnion. What's more, no corporation can deplatform me or censor the transfers of value to my family.…
I can contribute directly to open source projects without any 3rd-party, charity or not, taking a cut of my donation. In addition, a matching pool will probably enhance my contribution.
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