Beamswap’s Moonriver Ecosystem Grant Draft Proposal

Beamswap’s Moonriver Ecosystem Grant Draft Proposal

By Beamswap Team

Primary Goal

The primary goal of the present proposal is to restart and grow the Moonriver ecosystem through Beamswap initiatives and strategic partnerships. Beamswap’s track record has proven that core stats such as active users, transactions, and TVL could be increased. The previous grant request Beamswap proposed on Moonbeam has also achieved all predicted metrics.

Project Description

Beamswap is a Moonbeam-based DeFi hub powered by standard, stable & CL AMM, providing liquidity for peer-to-peer transactions. Beamex by Beamswap is the only active perpetual exchange on Polkadot.

Requested Grant Amount

The proposal asks for 47,000 $MOVR for liquidity incentives and $150,000 for the platform’s V3 development over one year ($200,000 for two years).

Use of Grant

47,000 $MOVR would be used to increase concentrated liquidity on upcoming liquidity AMM, leading to a stronger influx of new and existing users on the Moonriver Network. Rewards will be linearly distributed over six months. With $150,000 in development funding, Beamswap plans to onboard a new liquidity managing partner.

Motivation for Grant Amount

Maintaining a native DEX with an active development and marketing team should be the focal point before any restart programs or ecosystem grants come into play. Fostering liquidity for Moonriver’s native asset, $MOVR, should be the priority and a starting point, along with integrating an active stablecoin bridge from Axelar. Accessibility to a native market would also represent an entry point for new builders and their project tokens.

The primary goal of the present proposal is to restart and grow the Moonriver ecosystem through Beamswap initiatives and strategic partnerships. Beamswap’s track record has proven that core stats such as active users, transactions, and TVL could be increased. The previous grant request Beamswap proposed on Moonbeam has also achieved all predicted metrics.

Decent liquidity depth is necessary for the network to start progressing among active chains and on leaderboards such as DefiLlama. Concentrated Liquidity is a core product that ensures increased capital efficiency compared to v2 platforms like Solarbeam or Huckleberry. It delivers higher asset utilisation, high efficiency, low slippage on all trading pairs, and sustainability via default fee sharing. For example, $200,000 worth of $MOVR on Beamswap would equal $1.8M on Solarbeam.

Consequently, much fewer resources would need to be allocated to the exchange in ecosystem grants. Implementing Axelar and Squid would make $MOVR accessible from all supported swap networks (cross-chain swaps).

Development Cost Breakdown

Considering everything above, a conservative estimate of development costs for one year totals $150,000. Costs would be shared between both parties and would not be solely paid by Moonriver. All marketing-related expenses would fall on Beamswap - except any agreements occurring at a later stage or joint campaigns across the whole network.

The Beamswap team proposes a 2-year agreement between Moonriver and Beamswap for a total of $200,000 ($8,333.3 per month for 24 months) to ensure continuous development and updates of the newly launched Moonriver exchange.

Conservative cost breakdown:

Description Costs
Front-end development and deployment $20,000
Back-end development and deployment $30,000
Partner liquidity farming engine with lifetime support $40,000
Other infrastructure costs, one year $10,000
Additional full-stack developer hire, one year $30,000
Audit via SourceHat or Peck Shield $20,000
TOTAL $150,000

Beamswap’s product suite would include the following key areas:

  • Concentrated Liquidity v3 with external engine
  • CLMM DEX with Stable AMM support
  • LSD native exchange token staking
  • Community projects liquidity (no listing fee)
  • Cross-chain swap capability
  • Axelar bridge integration
  • Advanced router with Squid
  • Launchpad (if needed)

The essential costs outline deployment of Concentrated Liquidity v3 Engine (Algebra cannot be integrated due to StellaSwap holding a Polkadot license) and partner liquidity farming engine to deliver a seamless farming experience to farmers and allow them to farm grants (e.g., Gamma on Moonbeam). The team would also onboard an additional full-stack developer to oversee the Moonriver ecosystem and future partner integrations, plus another hire to keep up with network updates and promote possible integrations. Solutions like Uniswap v4 and future releases will require significant investment of time, resources, and costs.

Updates: Reserved

Project Overview and Relevant KPIs

The Beamswap DeFi Hub is among the five leading players in the Moonbeam DeFi arena, according to Web3Go, DappRadar, and Moonbeam Subscan. The continuous development and upgrades in the past two years have led Beamswap to the top dapp category, listed among/as:

  • Top 3 dapps by transactions on Moonbeam
  • Top 5 dapps by active addresses on Moonbeam
  • Top 3 dapps by number of unique active wallets on Moonbeam
  • 12,000 holders of the Beamswap-native $GLINT token on the Moonbeam network
  • 1st perpetual DEX on Polkadot
  • 1st perpetual DEX hitting $70,000,000 in volume

Notable deliveries have included v3 of DEX AMM, Yield Farming on Polkadot, the first Launchpad on Polkadot, Stable AMM, decentralized perpetual futures trading on Beamex, cross-chain swaps via Squid and Swing, YieldBooster governance, as well as countless router and UI/UX updates. The full list and description of all products and features can be found on Beamswap’s Documentation page hosted on GitBook.

During the platforms’ operation on Polkadot, the Beamswap team has successfully applied for and was awarded two grant programs on Moonbeam:

Both times, the grants delivered successful results despite unfavourable market conditions.

TVL and APY Estimates & General Thoughts

Considering the prevailing market conditions and the current state of Kusama and the Moonriver Network, Beamswap believes that the foundation deploying $1,750,000 worth of $MOVR as incentives over the next six months is a justifiable amount. Given the operational dynamics of the network, the proposal recommends allocating the majority of these funds towards a single decentralized exchange (DEX) and lending platform, namely Moonwell.\

Moonwell’s substantial audience, particularly on Base, positions it as a pivotal player in revitalizing Moonriver. Drawing from the lessons of Moonbeam Ignite #1, dispersing funds across multiple platforms risks diluting impact rather than enhancing it. Hence, the proposal suggests allocating $650,000 worth of $MOVR to Moonwell and one exchange, ensuring the establishment of a robust network for borrowing and trading. The remaining $450,000 should be earmarked for projects interested in building on or migrating to the network, with a cap of $100,000 per participant. This strategy fosters a competitive environment conducive to development and network presence.

To assess the proposal’s success, three key metrics would be tracked:

  • MoonriverDEX v3 TVL
  • MoonriverDEX monthly volume
  • MoonriverDEX 30-day transactions

The main pools where most incentives should be allocated would be xcKSM, MOVR, and the native stablecoin pool. Further incentives should go to vested tokens provided by Bifrost. This would ensure that swaps up to $100,000 and liquidations for Moonwell can happen without a significant price impact. The following pairs would be considered:

  • MOVR - xcKSM
  • MOVR - axlUSDC
  • 3-pool: axlUSDC, axlUSDT, FRAX
  • xcKSM - xcvKSM
  • MOVR - vMOVR

Below are conservative TVL calculations based on the 47,000 $MOVR rewards for a 6-month period, distributed evenly every month.

The $4 Million in TVL would represent a significant step forward for a deep liquidity book, allowing it to handle swaps of up to six figures without major slippage. In collaboration with Moonwell and Bifrost, Beamswap could achieve at least $20,000,000 to $25,000,000 in TVL. This would be a powerful stepping stone for the Kusama and Moonriver ecosystem.

Everyone could benefit from the collective ecosystem by making a request to Kusama OpenGovernance forums and taking advantage of the funding.

Below is a calculation based on the grant funding of 50,000 $KSM tokens.

Vision Of Success

Beamswap’s vision is to establish a base amount of liquidity on the Moonriver network, allowing institutional and retail users to execute strategies with higher efficiency but lower fees and slippage.

Marketing Efforts

The whole marketing strategy would be put in place once the development grant is approved. The team has been considering various options, such as:

  • Reactivating the network via token airdrop to all active projects on Moonriver
  • Moonriver Collators airdrop, working proposals
  • Developing point farming solutions such as Blast, Ethena, and EigenLayer
  • Submitting a proposal on Kusama OpenGov
  • Moonbeam: R E S T A R T with all future grant recipients
  • Leveraging and incentivizing the Moonbeam community
  • Free gas by reimbursing the first transaction gas costs in the first month after launch via Beamswap Faucet
  • Protocol revenue sharing via LSD token, similar to stGLINT
  • No listing fees for new projects

The final marketing strategy and executed campaigns would likely be a combination of the options above. The major catalysts would be points and Moonriver grants for their specific focus on onboarding new users and reaching certain levels of TVL. An external marketing agency would likely be hired to enhance the campaign strategy and marketing efforts. Axelar integration would also make the dapp accessible from various EVM networks.


Maintaining a native DEX with an active development and marketing team should be the focal point before any restart programs or ecosystem grants come into play. Fostering liquidity for Moonriver’s native asset, $MOVR, should be the priority and starting point along with integrating Axelar’s active stablecoin bridge. The access to a native market would represent an entry point for builders and their project tokens.

Considering the deployment of Beefy, a light client Ethereum-based bridge, it would be a great opportunity to have everything live to kickstart the new Moonriver DeFi growth and restart the campaign.

Steps to Implement

The approximate timeline to deploy the basic version of Beamswap Moonriver DEX would coincide with the Axelar bridge launch and release of Moonriver Grants. Beamswap’s test deployment would be ready within one month of grant approval. The first deployment would feature Beamswap v3 functionality with StableAMM, Axelar bridge integration, Launchpad, and cross-chain swaps. After that, the solution would undergo continuous upgrades with features including Governance, Community Project Farming, and Advanced Routing.

The incentives and implementation should thus go live towards the end of the second quarter of 2024.

Proposal can also be seen in other format on the following link: Beamswap Moonriver Proposal #1 - Google Docs


Hey, I have a question about gas reimbursement.

I’ve seen teams implement gasless swaps before. I would love to see you guys implementing something with our Call Permit precompile that allows users to do gasless swaps while you do some back-end service that submits the transaction for them, so no gas reimbursement is needed.

I don’t like Mainnet faucets, and this would be an “easy way” to avoid such thing :smile:

As always, DevRel team can help with any question


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Hey, It can be implemented for gas-less swaps but only if the token that they are swapping has a permit function.

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Yeah, that is true, but the Call Permit precompile would allow anyone to sign a message, and then you guys could submit a transaction to the network and pay for the gas fees instead of doing a faucet.

Then, if the call is successful, you could implement a small logic that gives them a bit of MOVR as well.

Happy to help with the Call Permit implementation. But the beauty of it is that you can make gasless swaps without needing Permit, or any modification to any smart contract.

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We will certainly look into this, after the grant voting period is over. Shouldn’t be too hard to implement.

In case of any questions we will discuss them with DevRel


Generally speaking I’m in favor of any initiative that will put MOVR back to the main stage. People tend to underestimate it by calling it the testnet network, etc. and those kinds of initiatives can change the narrative and emphasize the importance of the network.

Regarding the proposal itself, I think it’s good to have a good, liquid and sustainable MOVR dex. The current options are quite missing - StellaSwap decided to focus on Moonbeam so far, and Solarbeam isn’t enough.

I would also suggest checking the possibility to add a borrowing/lending option in this DEX since it’s very missing on Moonwell (their Moonbeam protocol is great, but Moonriver is quite poor). I know it’s out of the proposal scope but keep it mind if you can.

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Hey, thank you for your input and recommendation.

We’re definitely interested in collaborating with Moonwell on lending and borrowing. That’s why we proposed a larger sum of incentives for their product.

Implementation should not be that big of an issue.

Hello to all,

Just so I am not mistaken here. My back of the cigarette box math for the total ask for this proposal is:

470,000 MOVR @ ~14 USD a coin = $6,580,000
Then another $200,000 for development costs over two years

Total = $6,780,000.

Please confirm this math lines up with your proposal.

To me, this seems like a huge amount of money.

You say in your proposal you have a proven track record of delivering on metrics. But when I review the BeamSwap SPOT DEX at the moment, all of the liquidity for major tokens is gone. Does that not mean that you just rented the liquidity for a period of time via the incentives but then failed to lock in enough traction to keep a portion of this liquidity after the incentives ended ?

That is my main concern with these liquidity proposals.

Yes if we give you 6.5M USD in incentives of course you’ll garner much more liquidity but the real question is. Once the incentives end, will all of this progress just be lost to other ecosystems. Do you have a plan to avoid this, i.e. what changes are being made so there’s not a repeat of the exact rented liquidity issue on BeamSwap ?

i.e. would you not be better off just using that 6.5M for liquidity itself and not incentives? To me this sounds like a much more reasonable long term strategy.

Lastly, and maybe my internal metrics are just far off here. But you can get a full-stack developer hired and paid for 1 whole year for $30K ?

Call me old-fashioned here gentlemen, but in my world you get what you pay for in life. I worry that if you’re paying ~60% less than most people for your full-stack developer this could introduce some risk. Am I mistaken here ?

I do think what is being proposed is reasonable, but I worry that this will just be a large amount of funds being deployed at a time when your team is probably much more focused on your perp product on Moonbeam.

All the best.

Kind regards,


Hey, thank you for your comments.

The 470,000 MOVR is a typo, everything is written and calculated with 47,000 MOVR (now also edited). The whole relaunch program has a budget of $1.75M so it wouldn’t make sense to request four times that amount. You can also see that in this paragraph.

Regarding Beamswap Spot DEX, we didn’t rent any liquidity from anyone at any point of time. Beamswap has always been second to StellaSwap, firstly with Moonbeam Ignite grants and then with Moonbeam Ecosystem Grants #1. Due to their Algebra engine and more GLMR to give the APY displayed was always higher than APY on Beamswap which naturally takes traders to the platform that has higher liquidity and less slippage. The gap has now even widened with them getting Polkadot grant and it makes sense for users to use a more liquid solution.

No “changes” will be implemented at Moonriver. The network, projects and Moonriver leadership knows that we can’t have two dexes as grant recipients as it just fragments the liquidity. The one who gets the grant will have the liquidity and the other one can fight an uphill battle which can’t be won or pivot. Same as with Stellaswap and Beamswap on Moonbeam.

In the proposal you can also see that, if Beamswap is the grant recepient we will head over to Kusama OpenGov and request for more liquidity incentives so this will all be amplified.

Regarding the salaries:

We have mentioned that costs are shared and in most of the areas it will be a 50-50 split between Moonriver and Beamswap. The above table is an estimed of how much would go to certain areas so we ensure transparency for the Moonriver community and the council. Beamswap has its own Treasury which we plan to deploy for a product on Moonriver.

Hi Beamswap team,

Really comprehensive proposal, and appreciate the thought you put into marketing efforts. Only question from me is if there is any communications plan during the build so that the community remains informed of your progress?


Hey Jim, thank you for your kind words.

We plan to update the community with progress here and on social profiles. Those will be created once the grant and funding are approved.

Team Beamswap

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Thanks for the clarification regarding the 47,000 MOVR rather than 470,000. That indeed makes much more sense in the context of the overall relaunch program budget.

I appreciate you providing additional context around the liquidity situation with Beamswap Spot DEX vs StellaSwap. It’s a fair point that fragmenting liquidity across multiple DEXes can be counterproductive for the ecosystem as a whole. Concentrating resources and focus on a single leading DEX does seem like a pragmatic approach.

It’s also encouraging to hear about the potential to leverage additional liquidity incentives from Kusama OpenGov to further amplify the impact. Exploring synergies across the broader Polkadot/Kusama ecosystem is a smart move.

Thanks for clarifying the shared cost structure between Moonriver and Beamswap as well. The 50-50 split helps provide important context around the salary figures quoted. The transparency around resource allocation and Beamswap’s plans to deploy its own Treasury funds is appreciated.

Overall, while the absolute numbers involved are still substantial, the rationale and approach you’ve laid out seems sound. Wishing you and the Beamswap team all the best with the proposal and your continued efforts to drive growth and engagement in the Moonriver ecosystem. I look forward to seeing how things progress.

Cheers, TheOyster

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