Participate in the Latest Liquidity Programs that are Blazing on Moonbeam
A fresh burst of liquidity initiatives has landed on Moonbeam! Moonbeam Ignite 2023 is a new program designed to increase the intensity of Moonbeam’s white-hot ecosystem, fueled by a new crop of grants chosen by the community.
Check out which projects are now live and igniting DeFi on Moonbeam, funded by the Moonbeam Ecosystem Grants tranche two (with more coming soon!). Over 7 million GLMR has been distributed to projects since the beginning of the year through community grants intended to rev up the ecosystem. Moonbeam community members decided how much funding each project received — a true testament to the power of decentralized decision-making.
Dive into Moonbeam Ignite today!
Moonbeam Ignite 2023
Moonbeam Ignite is an experience to set activity on Moonbeam aglow. It is an eruption of DeFi possibilities, fueled by Moonbeam’s cross-chain connectivity.
Here’s what the projects are doing with their funds and how you can participate!
Beamswap
A Moonbeam-based DeFi hub providing liquidity for peer-to-peer transactions powered by standard, stable, & CL AMM. Beamswap is the only active perpetual exchange on Polkadot.
How They’re Using the Grants
Beamswap aims to fortify Moonbeam’s DeFi ecosystem by focusing on user growth through its decentralized perpetual exchange and concentrated liquidity AMM. They are using the grant to enhance market liquidity for Beamex and Beamswap v3 in order to attract a higher number of active users and sustain engagement in the Moonbeam network. Read the approved grant proposal and the original forum discussion.
Here’s how users access the funds:
- 249,171 GLMR are being used to increase market liquidity for Beamex, a decentralized perpetual exchange
- 373,756 GLMR are being used for Beamswap v3 concentrated liquidity AMM, leading to an influx of Moonbeam network users and their long-term retention.
How to Participate
Moonwell
An open lending and DeFi protocol built on Moonbeam and Moonriver. Moonwell is the largest DeFi protocol by TVL in the Dotsama ecosystem.
How They’re Using the Grants
Moonwell has allocated grant funds to liquidity providers reflecting their dedication to boosting both TVL and on-chain activities. This strategy aligns with Moonwell’s success in expanding liquidity for bridged and native assets, contributing to lower borrowing costs and wider adoption of Moonbeam’s technology. Read the approved grant proposal and the original forum discussion.
Here’s how users access the funds:
- 1,576,853.40 GLMR are being used to reward liquidity providers to the platform
How to Participate
Gamma
A protocol for non-custodial, automated, active management of concentrated liquidity.
What They’re Doing With the Grants
Gamma is using grant funds to maintain and enhance Moonbeam activity in terms of active users, transactions, and TVL. The allocation for liquidity initiatives and development bootstraps healthy liquidity pools, enabling smoother trading experiences and ideal liquidity conditions. Read the approved grant proposal and the original forum discussion.
Here’s how users access the funds:
- 490,400 GLMR are being used as direct liquidity incentives over five months to liquidity providers via Gamma’s managed vaults, available through major Moonbeam DEXes: Uniswap (via Oku), StellaSwap, Beamswap
How to Participate
These grants strengthen Moonbeam’s position in the DeFi space by increasing activity metrics, enhancing user engagement, expanding liquidity, and fostering a vibrant ecosystem.
Where Else Can I See Ecosystem Grants in Action?
Past grant recipients have included projects operating across the Moonbeam network’s DeFi, including liquidity provisioning, decentralized exchanges, lending and borrowing. Those in the first tranche of 2023 Ecosystem Grants – including Beamswap, Prime Protocol, StellaSwap and DAM Finance – kicked off their initiatives earlier this year.
Here’s an update on how those grants have radiated across the Moonbeam ecosystem.
Tranche 1 Grants: Where Are They Now?
In March 2023, ecosystem projects were selected and prioritized via a community-wide Snapshot Vote held from March 20 to 25. With over 2,600 votes cast, the community determined the allocation of the first tranche funding, which was then cemented through an on-chain ratification vote in early April.
Beamswap
The Ecosystem Grant was put to use through Beamswap’s newest product, Beamex, and the introduction of new features to bring more active users to the Moonbeam Network. Beamswap seeks to become a self-sufficient user-powered DEX and reduce reliance on external funding by building an expanded and loyal community. The requested GLMR was used to enhance market liquidity and attract more users with better UX.
The Update
Beamswap has enhanced the DeFi experience on Moonbeam since receiving the Moonbeam Ecosystem Grant. They have achieved over 800k in Total Value Locked (TVL) on their platform, surpassing their goal. Beamswap also introduced new features including cross-chain swaps through Squid, enabling easy deployment into Moonbeam across multiple networks with just one click. XCM transfers are also live through Moonbeam’s XCM SDK, allowing DOT holders to transfer their substrate DOT to xcDOT and simplifying transfers for other Polkadot assets. Beamex, the first perpetual exchange on Moonbeam, is now operational, offering advanced and cost-efficient trading services.
StellaSwap
StellaSwap is a hybrid DEX on Moonbeam that aims to maintain and grow activity within the ecosystem. Their primary goal was to increase the number of active users, transactions, and total value locked (TVL). They also aimed to build Connected Contracts use cases. The requested grant was used to sustain and deepen the market depth of strategic assets for widespread utility across the ecosystem.
The Update
StellaSwap has made significant progress in leveraging the ecosystem rewards to enhance their platform on Moonbeam since receiving the grant. The ecosystem rewards have had a positive impact on StellaSwap’s hybrid DEX model, reducing slippage on trades and accumulating TVL.
DAM Finance
DAM is a liquidity infrastructure project. The primary goal of the grant was to establish d2o, DAM’s native stablecoin, as the preferred stablecoin on Moonbeam, a blockchain platform.
The Update
The transfer amount and transactions on Moonbeam have significantly increased with DAM since launch. Over $700k has been teleported between Moonbeam and Ethereum, with an average daily volume of about $45k. DAM’s d2o has been launched on Orbiter, making it easier to accept as collateral in lending and borrowing solutions, with more platforms planning to support d2o in the coming weeks. DIA has also enabled a price feed for d2o on Moonbeam, increasing the reliability of the price feed.
Prime Protocol
Prime Protocol is a cross-chain lending and borrowing protocol that enables users to borrow across chains backed by their entire portfolio of cross-chain assets, revolutionizing the way users can leverage the value of their portfolios. The protocol uses Connected Contracts to orchestrate transactions across multiple blockchains without relying on a bridge. The grant is being used to provide liquidity incentives on Moonbeam, encouraging healthy usage of the protocol.
The Update
Prime Protocol has become the third most popular project by Total Value Locked (TVL) on Moonbeam and its TVL is on the brink of reaching $3 million across various assets, including GLMR, xcUSDT, FRAX, WBTC.wh, USDC.wh, and xcDOT. The grant’s impact has attracted new users to Prime and enhanced the ecosystem. With the incentives in place, Prime’s cross-chain functionality has drawn users, boosting TVL across all chains on Prime and driving a notable increase in borrows on the Moonbeam chain.
What are Ecosystem Grants?
Moonbeam’s Ecosystem Grants provide funding for applications, infrastructure, tooling, education, and programs that bootstrap activity and drive growth in the Moonbeam ecosystem. Applicants gain access to resources such as developer guidance, ecosystem networking opportunities, and even introductions to investors active in the Moonbeam ecosystem. Learn more about Moonbeam Ecosystem Grants here.
Please note that information related to claims, content, designs, algorithms, estimates and instructions in this blog post are provided for informational purposes only and nothing in this blog should constitute a solicitation for investment. Furthermore, certain information contained in this blog has been provided by third parties or otherwise reference third party products and services and is made available solely for general informational purposes and does not constitute an endorsement of any third party product or service.
