CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Activation Of Moonwell Artemis Protocol On The Moonbeam network

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Activation Of Moonwell Artemis — All Systems Go

Lunar Technology Foundation is pleased to announce the activation of the Moonwell Artemis protocol on the Moonbeam network! Moonbeam is an EVM (Ethereum Virtual Machine) compatible parachain on Polkadot. Polkadot’s unique architecture enables parachains to inherit shared security from a robust set of proof of stake validators, and brings unique capabilities, such as secure messaging between parachains. The combination of Ethereum compatibility and shared security enables many new use cases, such as minting and teleporting digital assets and NFTs, and also enables Moonwell Artemis to reach the entire Polkadot ecosystem.

Artemis Welcomes You

Moonwell Artemis uses battle tested code from the Moonwell Apollo protocol to provide an open, non-custodial lending and borrowing DeFi protocol. Moonwell Apollo was activated on Moonriver, which Moonbeam’s sister network that is live on Kusama. Apollo has seen widespread adoption, with over 2,800 active loans and reaching TVL as high as $350m. The Apollo protocol a community-oriented governance project where new features are tested by the Moonwell community before being included in the Artemis protocol.

The Moonwell Artemis community will be able to supply and borrow assets. Artemis connects borrowers, who must maintain more collateral than they borrow, with suppliers, in a completely decentralized and trustless way. The community will enjoy polished features, high levels of security provided by the Polkadot relay chain, and faster transaction times.

Moonwell’s goal is to be the most user-friendly, fast, and secure DeFi protocol in the ecosystem. With this in mind, an emphasis was place on having high levels of security. The expert cyber-security team at Halborn Security has performed multiple audits, and then, is on retainer to provide ongoing security advisory services and monitoring of smart contracts and web properties. There is also a generous bounty program through a partnership with the trusted team at ImmuneFi, which allows security researchers to submit their findings for review and earn a bounty for discovering security vulnerabilities.

Using the Nomad Bridge

Lastly, Moonwell Artemis and Moonbeam users can use the Nomad cross-chain bridge, a security-first cross-chain messaging protocol, to easily transfer assets between the Ethereum and Moonbeam networks. You will find below the list of assets that support by Artemis at launch. Note that assets sent over the bridge to Moonbeam will be the bridged versions of assets, i.e., wETH.mad, USDC.mad, andwBTC.mad.

  • GLMR
  • xcDOT
  • wETH.mad
  • wBTC.mad
  • USDC.mad
  • FRAX

By leveraging an optimistic interoperability mechanism, Nomad provides unprecedented levels of security and trust minimization.

About Moonwell

Moonwell an open lending and borrowing DeFi protocol on Moonbeam and Moonriver.

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