Proposal for Expansion to the Ronin Chain: A New Horizon for Alpaca Finance
Simple Summary:
I believe that the brunt of work into Botanix deployment is mostly done, hence I am looking into the next step, so please consider this as a no-compete idea with Botanix deployment, where our initial focus is, should be. With that clear…
This proposal aims to explore the strategic and growth benefits for Alpaca Finance through deployment next on the Ronin Chain. With Ronin becoming a permissionless model TODAY, new opportunities arise to expand Alpaca’s reach, attract new users and capital, and strengthen its position in DeFi. I believe that migrating to the Ronin Chain represents an excelent step for the future of Alpaca Finance.
Abstract:
Alpaca Finance has distinguished itself as an innovative DeFi platform on the BNB Chain. However, the blockchain landscape is constantly evolving, and adaptation is essential for long-term success, especially understanding where the power is regarding the crypto market After almost 6 years around, I do understand that the power is more on the community side than on the blockchain itself; The Ronin Chain, originally designed for gaming, is now becoming a permissionless platform, opening doors for DeFi projects. This proposal details the rationale, and expected benefits of deploying Alpaca Finance on the Ronin Chain, including increasing the user base, diversifying assets, and accessing a new, rapidly growing and very strong ecosystem.
Motivation:
The main motivation for this proposal is to capitalize on the transition of the Ronin Chain to a permissionless environment. This strategic move offers several advantages:
- Access to a New Market: The Ronin Chain has a vibrant and engaged community, with a growing focus on games and NFTs. Deploying Alpaca on Ronin allows the platform to reach new users seeking DeFi opportunities beyond the BNB Chain.
- Risk Diversification: As we already agreed, relying exclusively on a single blockchain presents risks, that’s why we are going to Botanix too. Expanding to the Ronin Chain diversifies Alpaca’s user base and assets, making it more resilient to market fluctuations and specific challenges of the BNB network.
- Growth Opportunity: The Ronin ecosystem is rapidly expanding and is one, if not the one blockchain with the most commited user base . Alpaca Finance, as one of the first established DeFi projects to join Ronin, can position itself as a leader and capture a significant share of this growing market, as planned for Botanix.
- Integration with Games and NFTs: The Ronin Chain is known for its focus on games. Alpaca’s presence on Ronin opens up opportunities to integrate DeFi services with games and NFTs, creating new and exciting possibilities for users.
Rationale:
The choice of the Ronin Chain is justified by several factors:
- Permissionless Model: The recent shift to a permissionless model eliminates barriers to entry for DeFi projects, making Ronin an attractive platform for Alpaca Finance.
- Active Community: The Ronin community is passionate about games and blockchain technology. This community represents a valuable target audience for Alpaca, eager for new DeFi opportunities.
- Scalability and Low Fees: The Ronin Chain was designed for high performance, offering fast transactions and low fees, crucial for user experience in DeFi.
- EVM Compatibility: Compatibility with the Ethereum Virtual Machine (EVM) facilitates the migration of Alpaca Finance to Ronin, minimizing development effort.
References:
- Ronin Chain official documentation and on-chain data: Link to everything on RONIN
- Articles and analysis on Ronin’s growth: Link to best article wrote about Ronin so far
I believe that expanding to the Ronin Chain represents a unique opportunity for Alpaca Finance to reach new levels of growth and consolidate its position as a DeFi player not only of today but for the future. I invite the community to discuss and support this proposal.
Thx for reading folks!