Summary:
This proposal advocates for Shell Protocol to expand to Sonieum, a new Ethereum Layer 2 solution backed by global tech giants Sony and Samsung. Launching on Sonieum will position Shell Protocol to capture significant mainstream attention, attract new users, and establish itself as a leading DeFi project on a highly anticipated platform that bridges the gap between traditional technology and web3.
Motivation:
Now that Arbitrum STIP has ended, Shell Protocol should look to keep momentum and progress. Sonieum presents a timely and extraordinary opportunity for Shell Protocol to obtain mainstream visibility and adoption. Shell Protocol has great tech with extremely easy bridging and defi zaps and the priority should now be to make more people aware of it.
As a Layer 2 network backed by Sony and Samsung, two of the largest global technology leaders, Sonieum is positioned to bring unprecedented attention from non-crypto audiences, enterprise users, and institutional players. Shell Protocol, by launching early on Sonieum, can gain first-mover advantage, harnessing the network effects and media attention that will accompany Sonieum's debut into the blockchain space.
Key problems this proposal solves:
- Access to a Mainstream, much broader User Base
- Visibility - Being among the first DeFi protocols to launch on a high-profile Layer 2 like Sonieum can exponentially increase Shell Protocol’s visibility, drawing attention from media, investors, and new users alike.
- Partnership and Collaboration Potential - Sony and Samsung’s entrance into the blockchain space could lead to a wave of partnerships and collaborations between traditional tech companies and web3 projects. By establishing itself early, Shell Protocol could become a prime candidate for these future opportunities.
- Access to funding - Sony's Spark program offers $100k per dev team for app developers on the platform. Shell Protocol has the skillset to deliver this project well within that budget and create value for Soneium and for Shell.
Vision:
Shell Protocol becomes a flagship DeFi project on Sonieum from day one, and then leverage its unique position as one of the first movers on this high-profile Layer 2.
Sonieum’s launch, under the global brands of Sony and Samsung, will likely be accompanied by major marketing efforts, industry partnerships and press coverage. Shell Protocol’s presence on Sonieum could translate to greater media exposure and community growth, and could result in Shell being much more present in discussions around web3 adoption in mainstream tech circles.
By establishing early, Shell Protocol could secure long-term strategic advantages and integrate itself into the future growth of this new network.
Specification:
Integration into Sonieum
- Ensure Shell Protocol is deployed on Sonieum’s Layer 2
- Expand liquidity bridges and zaps from Ethereum L1 and Arbitrum to Sonieum, enabling seamless asset transfers for Shell users.
- Maintain $Shell liquidity on Soneium
First-Mover DeFi Strategy
- Collaborate with Sonieum’s launch partners to ensure Shell Protocol is prominently featured as one of the first decentralized finance projects on the network.
- Continue with the distinctive Hawaiin theme of Shell Protocol because it's great
Community Building and Partnerships
- Leverage Sony and Samsung’s wide-reaching influence in the technology, entertainment, and consumer electronics sectors to build new partnerships
- Benefit from any Incentives grants similar to Arbitrum STIP
- Develop user guides specifically for onboarding non-crypto users, helping them easily access DeFi on Sonieum via Shell.
Marketing and User Growth
- Allocate a significant sum of the Incentives funding to launch a marketing campaign in coordination with Sonieum’s team to capitalize on their mainstream launch, utilizing their brand to draw attention to Shell Protocol’s offerings.
- Attend as many Soneium events, grants, and hackathons as possible to encourage development and liquidity provision on Shell Protocol’s Sonieum integration, positioning it as a key player in the network’s DeFi landscape.
Benefits (Pros):
- $100k development incentive
- More Mainstream User Acquisition
- First-Mover Advantage on a new Network with unprecedented reach
- Increased Visibility and Publicity
- Partnership Potential
- Enhanced Ecosystem Growth
Downside (Cons):
- Unproven Network: Soneium is still somewhat unknown, might be very centralized or have other problems
- Development Resources: Significant technical and marketing resources will need to be allocated to ensure a successful integration with Sonieum
- Risk of Low Initial Liquidity: As a new network, Sonieum may face initial liquidity constraints, perhaps something Shell & Arrakis can help remedy
Overall Cost: $0
The estimated cost includes Development Costs and Marketing and PR Costs, but these should be covered by the $100k dev incentive since most of the tech is now built and most of the funding can be used on marketing and attending events.
Timeline:
Soneium Testnet is live now, so Shell on Soneium testing could start now. Shell should go live on the real Sonieum at mainnet Launch, anticipated early 2025.
This proposal aims to position Shell Protocol at the forefront of a landmark shift, where traditional technology leaders like Sony and Samsung begin bridging into the decentralized web3 world. Shell's tech is there to be used, let's use it!
