Solarbeam’s Moonriver Ecosystem Grant Draft Proposal
By Solarbeam Team
Main goal
The main objective of this proposal is to implement a CL AMM at Solarbeam, as proposed in this other topic here, as well as other initiatives that can add value to the ecosystem, consequently bringing new users and new opportunities.
Project description
Solarbeam is the leading DEX in the Moonriver ecosystem and has been present and collaborating with the ecosystem since its launch on Aug-30-2021. Solarbeam has since provided an AMM and Stableswap, in addition to a Launchpad (Eclipse).
Requested Grant Amount
The proposal asks for
-
120,000 MOVR tokens for liquidity incentive for a period of 6 months
-
$116,000 for implementing a concentrated liquidity AMM DEX (Solarbeam CLAMM V3) and implementing a decentralized perpetual exchange (Solarbeam Perps)
Use of Grant
The 120,000 MOVR tokens will be used as liquidity mining incentives on Solarbeam CLAMM V3. Rewards are distributed linearly over six months.
The $116,000 for the development fund will be used for audits and team/infrastructure expenses.
Motivation for Grant Amount
As mentioned in Call for Input: Shaping Moonriver’s DeFi Strategy - Governance - Moonbeam Community Forum, the launch of the Axelar bridge is a good opportunity to promote new activities on the Moonriver network in order to recover users and also attract new users to the network.
A DEX with concentrated liquidity is still one of the primitives missing from the Moonriver network and would be very beneficial for those new users to have a place to either become liquidity providers or to have a better trading experience with low slippages on their trades.
Solarbeam has been running for 3 years without development grants, and will keep running, but having a development grant would help in hiring more engineers and consequently having faster and better deliverables.
Development Cost Breakdown
The estimated costs for one year are $116,000.
Costs will be split between Solarbeam and the Moonriver network.
All marketing-related costs will be the responsibility of Solarbeam.
Costs breakdown:
| Description | Cost |
|---|---|
| Front-end development and deployment (2) | $25,000 |
| Back-end development and deployment | $25,000 |
| Partner liquidity farming engine with lifetime support | $40,000 |
| Other infrastructure costs, one year | $6,000 |
| Audit via Peck Shield or similar | $20,000 |
| TOTAL | $116,000 |
Solarbeam’s platform would consist of the following products:
- AMM DEX
- CLMM DEX
- StableSwap DEX
- Eclipse Launchpad
- Perp DEX
- Native bridge UI (XCM, Axelar)
- Swap for Gas
Solarbeam Overview
Solarbeam is one of the first protocols on Moonriver and is the leading DEX on Moonriver by TVL and users, with over 9,500 holders of Solarbeam native token $SOLAR.
- All time high of $170m in TVL
- Over $3.2b in total volume
- Over ~700 liquidity pools
- 1st project to launch on Eclipse had over $5,000,000 in contributions
Solarbeam integrates an AMM V2 and a StableSwap, Yield Farming and the first launchpad on Moonriver Eclipse, as well as significant improvements in the UX ecosystem by providing an interface to bridge using native XCM features and other bridges.
Solarbeam is also proud to be the first protocol to offer the Swap for Gas, allowing users to onboard in the ecosystem even without having MOVR to pay for gas.
Having a strong relationship with other top protocols on Moonriver such as Moonwell is also a beneficial factor for the ecosystem, since the synergy between lending protocols and DEXes are extremely important for DeFi as a whole.
Vision Of Success
Solarbeam’s vision is to increase the amount of liquidity on the Moonriver network, by providing a more efficient trading platform using the CL AMM protocols and increase the number of active users in the network by providing the best User Experience possible, using all features that powers Moonriver such as batch transactions.
Marketing Efforts
The entire marketing strategy would be put in place once the development grant is approved.
Steps to Implement
The approximate timeline to deploy the CL AMM on Solarbeam would coincide with the Axelar bridge launch and release of Moonriver Grants.
Solarbeam’s test deployment would be ready within one month of grant approval.
The first deliverable would feature CL AMM (V3) functionality of Solarbeam with the integration of the AMM V2 + Stableswap + CL AMM, Native Bridge UI, Eclipse Launchpad and Swap for Gas.
After that, the solution would undergo continuous upgrades with features including Voting Gauges and the Perps DEX.
The incentives and implementation should thus go live towards the end of the second quarter of 2024.