Results of the Ecosystem Grants Snapshot Vote

Now that the snapshot vote has been completed and the community has had a chance to signal how they want the first tranche of the Ecosystem Grants distributed; we are ready to proceed to on-chain voting.

As described in the “Adjustments to Snapshot Vote” section of the Revised Grant Program; the grants committee has made the following adjustments:

  • Any proposal that would have received fewer than the equivalent of $250k worth of GLMR (based on the 7-day TWAP from the date the Revised Grant Program was passed) will not be placed into the on-chain vote.

The Revised Grant Program was passed on March 7th; and the 7-day TWAP at that time was $0.41. Based on that number, the threshold for being included into the vote equals 609,756 GLMR; or 13.55% of the vote.

  • The “leftover” amounts, totalling 69,300 GLMR, are allocated to the Community Grants Bucket.

  • Any proposal that would have received more than 2M GLMR (44.44% of the Vote) would have been capped at 2M. There were no proposals that received more than 44.44% so this does not apply.

  • The amount(s) that were in excess of 2M GLMR would have been allocated to the remaining Eligible Draft Proposals (those that received a minimum of 13.55% of the vote) on a pro-rata basis. Again, since no proposal was over 44.44%; no redistribution was necessary

The results of these adjustments are as follows:

  • DoDAO (0.75% of the snapshot vote, 33750 GLMR): did not reach the minimum required threshold.

  • Zircon Finance (0.79% of the snapshot vote, 35,550 GLMR): did not reach the minimum required threshold.

  • As a result, 69,300 GLMR was allocated to the Community Grants Bucket.

The results for the 4 remaining proposals are as follows:

  • BeamSwap (14.62% of the snapshot vote): 657,900 GLMR

  • DAM Finance (16.19% of the snapshot vote): 728,550 GLMR

  • Prime Protocol (30.38 % of the snapshot vote): 1,367,100 GLMR

  • StellaSwap (37.27% of the snapshot vote): 1,677,150 GLMR

An on-chain vote with these combined results will be put to the community on Monday, March 27th, 2023 and will complete on April 3rd, 2023.


wonderful thank you very much

This is now for vote here → Ecosystem Tranche 1 Grant Proposal | Polkassembly

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