If there’s one thing in Web 3.0 that’s sorely underestimated, it’s the value of community. Our goal of serving billions of users is going to require thousands of communities supporting millions of builders. Chains and projects will come and go, but those that hang around invariably grow their own identity and crowd. Community is an essential ingredient in our vision for Web 3.0.
It can be tempting to think about community in engineering terms or logical first principles, or to focus solely on what the onchain data reveals about our users. But community is far too intangible to be dealt with so neatly. Instead, it’s very difficult to perceive and appreciate the full range of strengths, weaknesses, experience, attitudes and reliability across large groups of contributors and to move collectively in a single direction. Yet, the strength of a community is demonstrable through ongoing participation by growing numbers with broad talents, together contributing a net value add. This is no easy feat.
These reflections are helpful for Beefy as we consider how we grow our community and strengthen our ties with others. It’s part of the reason we’re often so excited to announce new partnerships and wider contributions to other projects and goals. And it’s also why we’re excited to announce Beefy’s launch on chain number 24 - Linea - a chain that's built from the ground up for communities of builders.
Linea uses the power of zero-knowledge technology to provide a complete and performant onchain experience that settles onto Ethereum. In doing so, Linea offers all the safety and security of Ethereum’s network of validators without the slower speeds and higher fees found on mainnet. As we’ve discussed in previous articles, zero-knowledge proofs allow for much faster finality (i.e., the point of completion with no more changes) than other forms of scaling technology, such as those found in optimistic rollups.
As the latest blockchain project stewarded by Consensys, Linea joins an esteemed line-up of products, including MetaMask (wallet), Infura (infrastructure), Truffle (smart contract testing suite) and Besu (Ethereum client). By leveraging the group’s significant experience, resources and talent pool, the Linea team hopes to offer an unrivaled experience for Web 3.0’s builders, as Ethereum’s scalability vision gradually opens the door to mass adoption.
Linea has taken things to the next level by engaging with a massive ecosystem of projects, launching its own comprehensive testnet (sitting on top of Ethereum’s Goerli testnet) and pouring a huge amount of funding into hackathon prizes, reward programs and other incentives to drive adoption. And as Linea gradually moves towards full decentralization as a public good, the possibility of distributing its own governance cannot be overlooked… 👀
And things aren’t stopping here. With its Linea Stack, the team is aiming to make Linea’s rollup technology available under an open-source license, allowing others in the industry to easily deploy their own rollups on Linea’s tested tooling. As we’ve seen with the adoption of Optimism’s OP Stack by players like Coinbase, disseminating cutting-edge tech openly, publicly and freely can and will help to accelerate the pace of growth in Web 3.0.
Ready to take the plunge and get yield farming on Linea? Don't worry - we've got you!
First of all you'll need some Linea $ETH to pay for gas. Head over to the native bridge to transfer canonically and with maximal security from Ethereum; it's ideal for large values. Or check out more than 30 different third-party bridging services on the Linea apps page.
Once your bridge transaction is finished, you can review your balance and activity on the Linea block explorerdeveloped by the Etherscan team. Our frens at DefiLlama have then curated a full selection of applications and projects to explore on their Linea page.
As always, you'll want to get your hands on the full variety of assets and stablecoins available on Linea from one of the many DEXs already on the chain. Head over to our frens at Velocore to access deep liquidity for swaps and deposits. Alternatively, you can provide single-sided liquidity to our partners at Mendi Finance for compounding or Stargate for bridging, and earn top-tier yields on your favorite asset.
But perhaps best of all is just to head straight to Beefy to autocompound them all for you! With 6 brand new Mendi vaults all launching today, there's already plenty of options for Beefy yields on Linea.
When looking at all the disparate pieces brought together to create Linea, it’s clear that the developer team is building a community for the builders. Embracing and extending the promise of Ethereum with cutting-edge zero-knowledge technology and a new stack of roll-up tools is the best way to grow Web 3.0 into a community of a billion users. And judging by the data for projects and users making Linea their new home, it’s clearly working.
We at Beefy can’t wait to contribute to the rollout of Linea’s next-generation DeFi ecosystem and help bring the magic of autocompounding to its flourishing onchain community. And you’re all invited to join us. 🤝