Beamswap: Ecosystem Grant Draft Proposal

If Beamswap were to receive a grant while StellaSwap does not, or if the Moonbeam Foundation, Treasury Council, or Ecosystem Grants Committee provide clear direction on desired bridge partners, we would switch to Wormhole assets. Previous grant recipients have raised concerns about liquidity fragmentation, but the Moonbeam Foundation does not see it as a major issue. We have been in communication with Alberto, Nate, and Aaron about the Wormhole/Multichain situation, and they have not expressed any of the concerns listed. However, it is worth noting that a similar situation occurred with the Nomad bridge, which was promoted as a native bridge but faced a major exploit.

Wormhole is supported by JUMP, a private company that has had liquidity issues in the FTX drama. Thus making the argument that they will be bailed out a bit sketchy as there are no assurances of it.

Additional justifications for our decision to partner with Multichain can be found in our prior grant and the accompanying comment section. Their AnyCall on Router V7 enables users to transfer assets across supported cross-chains in a single transaction, while also accessing a substantial pool of $1.5B in liquidity.

In case Moonwell has additional questions feel free to reach out.

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