Dear Moonbeam Community and Stakeholders,
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.