Though I’m pretty new around here, I have been paying attention to this project for quite a while. I stumbled upon the founder’s YouTube channel called DeFi weekly.
Go subscribe if you haven’t to Kerman’s YT channel!
Now moving on to the topic at hand: moving to a second chain. I want to first draw on a recent forum topic which is doing a Token Split. It was discussed that this would increase accessibility for investors. While there might not be agreement on that piece, I want to focus on investor accessibility, as it has prevented me from using the platform personally.
Users are a key way to get growth, and by moving to a new chain, we can access a whole host of new users with new partnerships and new synergy.
Recently, we have seen AAVE, basically the largest DeFi project, do this, making their move to MATIC network (everyone still calls it MATIC even though it’s Polygon now…). To me, this caused a huge rupture and potential for others to follow suit.
I’m not saying it has to be MATIC, but look if ARCx can pair really well with a lending platform like an AAVE and collaborate with more DeFi projects over there, I think it would certainly create a unique offering.
We all know that minting stablecoins, which ARCx has some unique features in this area, alone is not enough to get users on the platform and have that first mover advantage.
However, with AAVE setting up shop on MATIC it creates a lot of potential for a DeFi ecosystem to develop which will be friendly toward ARCx. AAVE is going to grab headlines and eyeballs. People will start to look to MATIC for the next DeFi ecosystem. That is my analysis anyway.
I do believe strongly in the network effect.
I would like to hear the community’s take on a potential move to MATIC. Yes I know of a project that can bridge from ETH to MATIC, but let’s not go there just yet. Enjoy the discussion and cheers.