A Multichain Strategy for DarumaDAO

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A Multichain Strategy for DarumaDAO

This article aims to present the dev team’s view on the multichain strategy for DarumaDAO and updates on our roadmaps.

We stand at the crossroads of one crucial question: “How will DeFi grow?”

The future of DeFi is a multichain world. Competition among layer1 blockchains is forming the foundation for a more-resilient DeFi ecosystem. Ecosystem fragmentation is a critical issue that could significantly impede the adoption of decentralized systems. The emergence of a highly competitive ecosystem of layer1 blockchains has enabled the pie for DeFi applications to grow beyond a winner-take-all market.

As stated in the first medium article, we believe in the robust infrastructure of the Nervos blockchain, which should provide improved security, privacy, and scalability for DeFi projects. Thus we launched our first product, the decentralized, rebasing currency — DRM on Godwoken. We also value synergy as the most powerful thing; hence partner with the early trailblazers, notably Yokaiswap, to bootstrap the liquidity. As a result, we forest a strong community and long-term investors. The dev team can’t achieve those things alone without the help of our partners, international mods, and the technical support from the Nervos/Gowoken foundation.

Now we are at the turning point. The elephant in the room is that Godwoken is still very young. A few projects compete for a relatively small capital size(~$50m TVL in Godwoken), which poses a risk to both incumbent and next-generation applications. Many community members have voiced the demand for marketing in a broader world. As a response, we are bringing DarumaDAO’s visibility to mainstream listing platforms, e.g., DappRadar, DeFillama, and more coming.

Yet we know this is not enough. Therefore, we decide to bridge DarumaDAO to other chains for greater markets and larger adoption. As the first step of our multichain road, the upcoming Daruma Eggs NFTs will issue on Polygon with native Opensea integration, gDRM will also soon be available there empowered with new utilities. We believe that introducing the Daruma to the outer world will benefit both DarumaDAO and the Nervos ecosystem in general.

We either make something people want, or we die. And that’s the way it should be. (⚫,⚫)