Gamma Strategies: Grant Update
Gamma KPI Dashboard - Moonbeam
Original Proposal
Gamma Tranche 2 Ecosystem Grant Proposal
Primary Goal
Maintain and grow activity on Moonbeam (active users, transactions, TVL)
Revised Requested GLMR Grant Amount
890,254.15 GLMR (490,254.15 Incentives, 400,000 development)
Use of Grant
490.254.15 GLMR will be used as direct liquidity incentives to liquidity providers via Gamma’s managed vaults. 400,000 GLMR will fund Gamma’s development and deployment on Moonbeam, including new AMM support and infrastructure.
Motivation for Grant Amount
Liquidity incentives are critical to bootstrapping and building healthy decentralized liquidity pools on a growing blockchain. Correctly allocated and managed concentrated liquidity pools allow low slippage trading, which is vital to a healthy network. This grant amount creates long-term ideal liquidity conditions for liquidity providers and provides Gamma with the necessary funds to deploy them.
Incentive Table
| Gamma Vault | AMM | Fee Tier | Allocation | Emitted | Per Day | % Complete |
|---|---|---|---|---|---|---|
| WETH-WGLMR (narrow) | Uniswap / Oku | 0.30% | 163,416.42 | 93,411.67 | 563.70 | 57.16% |
| whUSDC-WGLMR (narrow) | Beamswap | 0.30% | 163,416.42 | 93,411.67 | 563.70 | 57.16% |
| WGLMR-xcDOT (narrow) | StellaSwap | Variable | 163,416.42 | 93,411.67 | 563.70 | 57.16% |
Current Progress
Gamma is currently in Period 12 or week 24 of our emission program 280,235.01 GLMR has been emitted since September 1, 2023.
The program has generated $209,172 in fees so far for liquidity providers, and facilitated $73,935,085 in volume.
The average Total Value Locked (TVL has varied between $500,000 and $900,000 during the progam.
Gamma has seen good performance for incentive usage. The Incentivized Liquidity Rate (ILR) or the amount of TVL per $1 of incentives per day is between $500 and $2000.
Adjustments
Gamma reduced awards by 30% in Period 9 on January 9, 2024 due to our vaults being closed temporarily for a security audit. Awards remain at lower levels, and deposits have reopened.
| AMM | Token0 | Token1 | Change | Period | Timestamp |
|---|---|---|---|---|---|
| Uniswap / Oku | WETH | WGLMR | Vault opened | 2 | 9/27/2023 21:30:00 |
| Beamswap | whUSDC | WGLMR | Vault opened | 2 | 9/27/2023 21:30:00 |
| StellaSwap | WGLMR | xcDOT | Vault opened | 2 | 9/27/2023 21:30:00 |
| Uniswap / Oku | WETH | WGLMR | Reduced incentives by 30% | 9 | 1/9/2024 23:30:00 |
| Beamswap | whUSDC | WGLMR | Reduced incentives by 30% | 9 | 1/9/2024 23:30:00 |
| StellaSwap | WGLMR | xcDOT | Reduced incentives by 30% | 9 | 1/9/2024 23:30:00 |
Future
Gamma is still debating whether to increase rewards up to pre-reduction levels or to extend the program another period, as well as continuing to evaluate if incentives are being correctly allocated. Currently, the program will run until May-June 2024, or about 18-20 periods.
To follow our incentive program progress, please see the dashboard below. It’s updated every period.