Season 3: Ecosystem Grants

[sicco-moonbeam]

We are excited to announce an upcoming on-chain vote to allocate the third season of our ecosystem grants, totaling 4.5 million GLMR, strategically guided by the recommendations provided by Gauntlet. This initiative represents a significant step forward in the growth of the Moonbeam ecosystem.

Vote Details:

• Budget: 4.5 million GLMR

• Start Time: Thursday, May 30th at 14:00 UTC

• End Time: ~Thursday, June 6th

• Track: Fast General Admin

• Voting Platform: Moonbeam On-Chain Governance vote

Voting will be a single vote to approve the entire budget allocation and will be a simple Aye/Nay vote on Moonbeam. The vote will use the new Fast General Admin track and the OpenGov support curves. In principle this makes it a 7 day vote, although it could complete earlier if there is a lot of support. Please note that there is no Snapshot vote this time around.

Grant Distribution:

The distribution of the third season grant budget is based on the recommendations provided by Gauntlet. If approved, the grant funds will be distributed as follows:

• 1,350,000 GLMR (30%) to Stellaswap (DEX)

• 1,125,000 GLMR (25%) to Moonwell (Lending Protocol)

• 1,125,000 GLMR (25%) to Prime Protocol (Cross-Chain Interactions)

• 900,000 GLMR (20%) to Beamswap (Innovative Products)

Recipient Responsibilities:

Incentive Readiness

All teams receiving grants should comment on this post by May 29th to confirm their readiness to launch respective incentives on Friday, June 14th. It is crucial that each team is fully prepared to utilize these funds effectively immediately upon receipt, in alignment with Gauntlet’s strategic recommendations to maximize grant impact.

Grant Evaluation Framework:

Following the guidelines of Gauntlet’s ecosystem grant evaluation framework, each team should share key metrics for their protocol to capture the 2 month “before” period of the grant cycle. These are the mean values between March 29th, and May 28th, 2024 for:

• TVL: the total USD value locked within the protocol, indicating the amount of capital deposited by users

• DAU: the number of unique users who interact with the protocol within a 24-hour period.

• trading volume: the cumulative value of all trades executed on the platform, converted to USD

• trading fees: The total fees collected by the protocol as a percentage of the trading volume

• capital efficiency: The ratio of trading volume to TVL, indicating how effectively the protocol uses its locked capital to generate activity.

Teams should also share plans indicating which pairs they plan to incentivize, and intended goals for the above metrics. This data should be shared by May 29th, at the latest.

Going forward, teams should develop a publicly available rest endpoint so this data can be easily collected.Upon completion of the grant, the foundation will collect these same metrics from teams for the 60 day period after completion of the grant, i.e. the period between December 14th 2024, and February 15th, 2025. This will let the foundation assess the impact of the grants and share a comprehensive report with the community.

Important Dates:

• Teams signal readiness: May 29th

• Teams share key metrics: May 29th

• Start of the vote: May 30th

• End of the vote: ~June 6th

• Funds Distribution: Monday, June 11th

• Incentive Launch Deadline: Friday, June 14th

We encourage all community members to participate in this crucial vote. Your involvement in allocating a significant portion of the token supply directly impacts the strategic direction of our ecosystem’s growth.

[prison_mike]

I wonder how LordGLMR will try and game this …

[coolhorsegirl]

The Moonwell community is fully prepared to participate in the upcoming Moonbeam Season 3 Ecosystem Grants program. We appreciate the work put in to establish this updated grants model and trust in Gauntlet’s capability to execute it effectively. We are committed to reintroducing GLMR incentives to Moonwell markets on Friday, June 14th, and are eager to utilize these grant funds to drive adoption of Moonwell’s Moonbeam deployment, while also bolstering additional liquidity that users and other ecosystem projects can leverage for their benefit.

As per the grant evaluation framework, we are sharing the following key metrics for the period between March 29th and May 28th, 2024:

• Total Value Supplied 03/29/24

• Total Value Supplied 05/28/24

• Active Addresses 03/29/24:

• Active Addresses 05/27/24:

The above metrics have been sourced from Gauntlet’s Risk Dashboard, which also contains other relevant data points for those interested in digging in further. Moonbeam community members can use this dashboard to independently access and verify the above data and track metrics throughout the Season 3 grant period.

I will also add these applicable values:

• Mean Total Value Supplied is approximately $38M
• Mean Active Addresses is approximately 3.4k

As a lending protocol, metrics such as trading volume, trading fees, and capital efficiency are not directly applicable to Moonwell and have not been provided above. Our primary focus is on growing our Total Value Supplied (which in turn decreases borrowing costs) and increasing the number of Daily Active Users (DAU) interacting with the protocol.

The Moonwell community plans to allocate grant funds to incentivize the following markets:

1. GLMR

2. xcDOT

3. ETH.wh

4. WBTC.wh

5. USDC.wh

6. xcUSDC

7. xcUSDT

8. FRAX

GLMR reward speeds (rate at which incentives are distributed to suppliers in a market) may only be modified through the passage of onchain Moonwell Improvement Proposals, which are normally executed every 28 days (1 epoch). Moonwell delegate @curlybracketeffect typically submits these proposals and will be able to adjust market reward speeds as TVL fluctuates in the above markets. WELL rewards will continue to be utilized to further incentivize Moonwell markets on Moonbeam.

Our goals for the grant period are:

• Increase Total Value Supplied by 15% - 30%

• Grow Active Addresses by 20% - 40%

We look forward to working with the Moonbeam community to drive the continued growth and success of the ecosystem, as well as support the newly revealed Moonrise campaign/initiative.

Please let me know if you have any follow up questions!

[sicco-moonbeam]

Thanks @coolhorsegirl.

Just a friendly reminder - in order for us to properly implement the Gauntlet grant evaluation framework, we require the mean values of the following 5 metrics for the period between March 29th and May 28th:

• TVL:
• DAU
• trading volume
• trading fees
• capital efficiency

Can you add these to your post? Much appreciated…

[Az_StellaSwapCD]

StellaSwap is excited and ready for the Moonbeam’s ecosystem grant program. We’re honoured to be part of the program and spearhead growth for the ecosystem. We will be deploying the grants in tandem with Moonwell on Friday, June 14th. We’re also excited to inform the community that our DOT liquidity incentives will go live a few weeks later. This will ensure tremendous traction and growth not only for Moonbeam, but the entire Polkadot ecosystem.

Here is the breakdown of core metrics in accordance to the grant evaluation framework for the last two month;

• TVL (Apr 01)
  

  

• TVL (May 01)
  

  

• Active Address
  

• Volume (Apr 01)
  

  

• Volume (May 01)
  

  

• Trading Fees (7D)
  

  

• Capital Efficiency (Ranging between 10% - 80% for top pools)
  

  

Mean Values
Here is the mean values of each core metric for the past 2 months.

Sources;

1. StellaSwap Analytics
2. Dune Analytics
3. Mean Values

[beamswapio]

• TVL: the total USD value locked within the protocol, indicating the amount of capital deposited by users

Total between March 29th and May 28th, 2024:

Average between March 29th and May 28th, 2024: $223.678

• DAU: the number of unique users who interact with the protocol within a 24-hour period.

Total between March 29th and May 28th, 2024: 2834

Average between March 29th and May 28th, 2024: 45.7 per day

• trading volume: the cumulative value of all trades executed on the platform, converted to USD

Total between March 29th and May 28th, 2024: $20.1M

Average between March 29th and May 28th, 2024: $324.193 per day

• trading fees: The total fees collected by the protocol as a percentage of the trading volume

Total between March 29th and May 28th, 2024: $41.000

Average between March 29th and May 28th, 2024: $662 per day

• capital efficiency: The ratio of trading volume to TVL, indicating how effectively the protocol uses its locked capital to generate activity.

Beamex is one of the most capital-efficient products on the Moonbeam Network. With an average Total Value Locked (TVL) of approximately $180,000, we are achieving an average trading volume of around $500,000, with peaks on volatile days exceeding $1,000,000.

The entire allocated grant amount will be directed to the BLP Index and will be distributed linearly starting on Friday, June 14th, 2024.

Our goals for the Season 3 Grant period are:

• Increase BLP Total Value Locked by 100 - 200%
• Grow Average Volume by 20-30%
• Grow Active Users by 30-40%

Source of data:

1. Beamex Analytics

[sicco-moonbeam]

Thanks @Az_StellaSwapCD .

Can you please provide the mean values for those metrics for the period between March 29th and May 28th? We need the numeric mean values to be able to plug them into the Gauntlet framework.

[sicco-moonbeam]

Thanks @beamswapio. Can you please provide the mean values for those metrics for the period between March 29th and May 28th? We need the numeric mean values to be able to plug them into the Gauntlet framework.

[colton]

Prime Protocol is ready to participate in Moonbeam’s Season 3 Ecosystem Grants program. Moonbeam community has been integral to the Prime community since Prime Protocol’s inception, and we are grateful to play a key part in continued growth for the larger ecosystem.

Please view our core metrics pertaining to Moonbeam-specific activity, in the period between March 29 and May 28, 2024.

• Mean Moonbeam TVL for this duration: $3,515,071
• Total Value Locked in 2 months (Includes a breakdown of value by Moonbeam-supported assets)

• Mean Moonbeam Borrows for this duration: $1,505,201
• Total Borrows in 2 months

• Average Moonbeam Transactions for this duration per day: 65 transactions per day
• Total Moonbeam Transactions in 2 months

• Average Daily Active Users for 2 months: 24.98

We are a lending protocol, and so we have provided TVL, Borrows, Transaction volume, and DAU as relevant metrics. Our capital efficiency is indicated by the healthy ratio between value locked and borrows on the protocol.

Our previous GLMR grant metrics prove that Prime Protocol allocates grant funds judiciously; we not only maximize the longevity of the grant but also ensure that the incentives we offer for liquidity provisioning and user engagement are competitive over an extended period of time. Before deployment of that grant, Prime had just $737k USD in TVL on the chain in July of 2023. This grant was to be deployed over a longer time horizon, and by the end of 2024, Prime had 8.6 million of TVL on Moonbeam. This was using less than half of the approximately 1.3 million GLMR awarded. Only deposits were incentivized, and the pools were highly utilized.

Prime Protocol intends to allocate grant funds to incentivize the following markets:

1. GLMR
2. USDC.wh
3. WBTC.wh
4. xcDOT
5. xcUSDT

Our objectives during this grant period are to:

• Increase TVL with similar or greater performance than our previous grant
• Increase daily active usage
• Continue driving success to the broader ecosystem.

Thanks!

[Az_StellaSwapCD]

Hey, we’ve updated the post @sicco-moonbeam

[sicco-moonbeam]

The on-chain vote is now available:

Season 3 Grant Ecosystem Vote

[sicco-moonbeam]

hey folks - just an update on this. It looks like the vote will complete sometime early Saturday. This should not impact overall timelines (funds will still be distributed on the 11th and incentives will start on the 14th).

[sicco-moonbeam]

I’m pleased to announce that the ecosystem grant proposal passed. We’re working with recipients to transfer funds and incentives should go live on June 14th.