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Community Approves Second Tranche of Latest Ecosystem Grants

Aug 30, 2023

3 min read

With support from the vibrant Moonbeam community, a new series of Ecosystem Grants has been officially approved, and the allocation of funds will begin soon. These grants mark another chapter in Moonbeam’s growth, showcasing commitment to fostering innovation, collaboration, and growth within the Moonbeam ecosystem. Read on for the details of the approved grants, each poised to drive the expansion and enrichment of our ever-thriving ecosystem.

Approved grants:

Here are the grants that were awarded by the community and their proposed uses in alphabetical order:

Selection process:

In all, 13 teams submitted proposals to the Moonbeam Community Forum for consideration. Of these, 3 teams did not qualify, and 10 teams, moved on to the first Snapshot voteGo to page https://snapshot.org/#/moonbeam-foundation.eth/proposal/0x037741b66815dcd1fc8076e258f157fafbd6d65dbeca851a823987c25026b812 including (in no particular order) TFA DAO, Moonwell, Gamma, Beamswap, Moonfit, Stellaswap, Orbiter One, Arden Platform, Charm, and DefiEdge.

TFA DAO did not receive enough support in the on-chain vote to allocate the proposed 1,000,000 GLMR to organize events and build engagement on the Moonbeam Network to increase adoption. Read TFA DAO’s grant proposal.Go to page https://forum.moonbeam.network/t/tfa-dao-tranche-2-ecosystem-grant-proposal/1146

The current grants process allows for frequent input from the community and unfolds through several key phases. After an open call for proposals on the Moonbeam Forum, during which time each proposal is actively discussed by both the Grants Committee and the community at large, the Community Grants Committee arranges a weighted vote on Snapshot where community members allocate their GLMR weight to eligible draft proposals or the option of not using a portion of the funds. The committee finalizes grant requests based on the Snapshot Vote and submits them on-chain voting. The final phase entails the Ecosystem Grant referenda, with approved proposals moving into the Moonbeam governance process for voting. For successful proposals, implementation begins after voting is finalized, where the Foundation strives to enact passed Ecosystem Grant referenda through direct efforts or contracted partners.

Tranche 2 Milestones:

Snapshot Vote Results

The First Snapshot Vote resulted in a “hung vote”Go to page https://forum.moonbeam.network/t/results-of-the-tranche-2-ecosystem-vote/1118 a situation where no clear decision was reached due to unexpected outcomes and intense competition among teams. The first vote was a close call, with teams that were initially leading seeing their positions change dramatically within the last minute.

After adjustments, only TFA DAO reached the minimum threshold of 22.93% of the vote and moved on to the on-chain vote. After extensive deliberationGo to page https://forum.moonbeam.network/t/update-on-the-tranche-2-ecosystem-vote/1126, the grants committee moved to a second snapshotGo to page https://snapshot.org/#/moonbeam-foundation.eth/proposal/0x5aa4dd72f8323f13a10b6238c5e64c1f969a0f9742f405f8440c97799c5e1178, which in turn resulted in the addition of Moonwell, Gamma, and Beamswap to the on-chain referendum.Go to page https://moonbeam.polkassembly.network/grants

More Governance Upcoming

To keep up with the latest announcements and updates regarding the grants program, follow the Grants & Proposals topicGo to page https://forum.moonbeam.foundation/c/governance/grant-proposals/7 on the Moonbeam Community ForumGo to page https://forum.moonbeam.network/ and sign up for an account. You can update your notification settings to receive emails about new proposals and discussion activity.