Over the last couple years, I've been asked: why not launch @MoonwellDeFi on Ethereum mainnet? After all it has $100B TVL in DeFi, and @Base is relatively small in comparison. For context, most mainnet TVL is either ETH whales (people who were in the ICO) or large DeFi funds.

DeFi on mainnet is largely a game played by billionaires and whales. What started as a level playing field where incentives were visible onchain has devolved into a game of private pricing deals for hedge funds and whales, likely raising anti-competitive and free market concerns.

The two biggest protocols in all of Ethereum DeFi not only have a non-compliant stablecoin that will be illegal in 3 years, they have no credible way to get to compliance without becoming CeFi institutions themselves or simply abandoning their stablecoin efforts completely.

Now that you understand how the entire DeFi world changed a week ago, you might see why this was announced two days ago. @Base was largely ignored by the biggest projects until regulatory clarity and the @Coinbase @Circle partnership made it impossible to ignore. Long $COIN $CRCL

We not only built the most capital efficient lending protocol in the world, we pioneered systems that teams over 10x our size in the top 2 projects can only dream of. An AI agent, @Mamo_agent that never takes custody of user funds and has a fully audited smart contract system.
And even @RuneKek and @StaniKulechov who I both admire greatly for being early to the space and the incredible projects they built have publicly said on @LauraShin's pod that the future of DeFi is automated with AI. @Mamo_agent is the only finance agent that is non custodial.
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