This is to start the conversation around the potential of Jet becoming a multi or cross-chain protocol.
For the purposes of this discussion here is where I draw the distinction between the two:
multi-chain: segregated protocols and liquidity, developed and operated by the same JetDAO
cross-chain: (somehow) bridged liquidity, protocol interactions, etc…
There may also be some blending of the 2 that may make sense for the architecture.
What really intrigues me about this possible path is the strategy. There’s a very strong argument that if Jet does go Multi/Cross chain, Ethereum is kind of a no brainer for the first move:
- You get access to a much larger addressable market
- There’s a number of technical options and resources for bridging and building on Ethereum
- If you build a solid EVM engineering team, theoretically there’s a number of other significant chains you could integrate. Avalanche, Fantom, BNB, etc…
On the other hand some downsides:
- borrow/lending is a crowded market on Ethereum
- the performance and complexity (L2s) of Ethereum may make it difficult to achieve feature parity and compatibility with the Solana implementation
The reason I started thinking about this is that I’ve been paying attention to the protocols that are building on the leftover open source tech from Meta (facebook)'s Libra/Diem project. In my opinion the 2 of those that are the most interesting are Mysten Lab’s Sui and Aptos. It’s possible that these smart contract platforms will provide better performance than Solana. But it is still early to say. I also think that the Move programming language may very well become a ubiquitous smart contract programming language.
The nerd in me says let’s be pioneers and capture first mover advantage on some of these other chains but that’s not necessarily the prudent decision for an existing protocol.
I’d love to hear thoughts around:
- Is going multi/cross chain even worth considering at this point? why or why not?
- If we did go multi-chain what chain or chains should we target?
- What are the criteria we should consider when choosing another L1?
- Any other thoughts on the subject.