I wanted to share an important update regarding the Snapshot vote for Tranche 2 of the Ecosystem grants, following the recent discussion on the forum post here.
As previously communicated, there were some technical issues that impacted the voting process. The underlying bug has been successfully rectified and to reinstate the democratic process, the snapshot vote will be relaunched on - July 21st, 2023 at 15:00 UTC.
Understanding the timing of the relaunch does happen to coincide with the approaching weekend, and in order to ensure maximum participation, the voting period will be extended. The Snapshot vote will run for a duration of 7 days, concluding on July 28th, 2023 at 15:00 UTC.
Please note that the rules and participants for the Snapshot vote will remain unchanged.
We want to extend our heartfelt gratitude to the community members for their unwavering vigilance, which has played a pivotal role in identifying the issue at hand. We also appreciate your patience and understanding as we navigate these technical challenges. It is your trust and participation that make the Moonbeam community strong and resilient.
The Snapshot vote for the Ecosystem Grants Program, Tranche 2 is now live! The vote has been scheduled from 15:00 UTC on July 21, 2023 to 15:00 UTC on July 28, 2023. Full details regarding the Snapshot vote can be referenced in the Revised Grant Program, however, the key rules are summarized below for ease of understanding.
Teams must receive the equivalent of 250K USD/1,032,204 GLMR (250K at a 0.2422$ 7-day TWAP) of the vote to qualify. This represents 22.93% of the vote.
Teams receiving less than the requisite amount will be ineligible, with funds diverted to the grant committee instead.
If there are more than 1.75M GLMR left over, the vote will be deemed as “hung” and invalid.
Teams cannot receive more than 2,000,000 GLMR, which represents 44.44% of the vote.
Any surplus over 2M GLMR will be redistributed across the remaining eligible teams, i.e., those who have received 22.93% or more of the vote.
It is important to note that GLMR holders can cast their votes with both free and reserved (i.e., staked) GLMR. The quantity of GLMR available for voting corresponds to the balance held in wallets at the time of the snapshot vote creation.
Active participation in this crucial ecosystem voting process is highly encouraged. It’s recommended to read and comprehend the diverse proposals prior to casting a vote. The Moonbeam Community continues to uphold principles of fairness, transparency, and democratic participation in this endeavor.
Thank you for your continued engagement and active participation.
Attention! The Snapshot vote is now live until 15:00 hrs (UTC), July 28th! Don’t miss out!
Consider each proposal & vote for which projects you think should receive an Ecosystem Grant
Not sure how to vote? Tutorial video for the Voting on Ecosystem Grant with Snapshot is live:
