StellaSwap | PINK allocation request [APPROVED]

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Company Name: StellaSwap

StellaSwap is a hybrid DEX that features a standard, stable and concentrated liquidity AMM to facilitate the most optimal price discovery for assets on Moonbeam. As the largest DEX on Polkadot and an integrated DeFi gateway, users can tap on a comprehensive list of features that simplifies their DeFi experience. Users can engage in trading, liquidity provisioning, bridging, cross-chain swaps, and a whole host of things.

Here’s our achievements since inception;

  • Only DEX on Polkadot with over $1.4B in trading volume
  • First DEX to go live on Moonbeam; has been the prominent DEX ever since. At its peak, StellaSwap accumulated over $140M in TVL and had an average daily volume of around $3-$5M. StellaSwap has pioneered several novel mechanisms such as our Initial Liquidity Offering (ILO) to foster capital inflows towards Moonbeam, ZAP feature to facilitate 1-click staking, and we’ve launched the first concentrated liquidity AMM called Pulsar, which is the most capital efficient AMM to date
  • Most extensive support of assets throughout Polkadot, supporting assets from 13 parachains across 45 pools.
  • We’ve worked with key protocols such as Moonwell, Lido, Beefy, Qidao, Wormhole and a long list of projects to develop a robust trading venue for the ecosystem.
  • Was one out of 4 protocols that received the subsequent Level 3 ecosystem grants (Tranche #1, March 2023), securing the highest allocation of of grants at 37% (~1.6M GLMR). Continued working with projects in DeFi to spearhead growth within Moonbeam, such as Squid+Axelar for cross chain swaps, cross chain utility with Prime Protocol, a long list of AMMs such as Mellow Protocol, DeFiEdge, Gamma to further simplify V3 staking.
  • We’re made up of a tight knit group of technologists and DeFi natives that previously founded one of the first regulated digital assets exchanges in the Middle East. Our founding team also includes a senior research associate from London School of Economics (LSE). Our team brings a wealth of expertise in digital assets trading and security systems, with prior experiences across high growth start-ups. We have been fully KYC-ed by the Moonbeam team.

Lead applicant: Aziz (aziz@stellaswap.com)

Metrics planning to improve: Users & TVL

We’re currently the biggest DEX on Moonbeam and is the most popular DEX on Polkadot, amassing the highest daily trading volume.

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We’re also the top protocol on Moonbeam with the highest cumulative unique EOA

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Strategy to improve

Our strategy in increasing baseline activity & TVL would be to utilize the PINK grants to spearhead stDOT adoption, which is currently Moonbeam’s native DOT LSD.

We will organize a GALXE campaign to spearhead stDOT LSD adoption as part of #DOTIgnite campaign, which is a DOT LSD campaign spearheaded by StellaSwap and in collaboration with Acala, Moonbeam and Bifrost. As stDOT is Moonbeam’s native LSD, we’ll organize a GALXE campaign to boost stDOT adoption via STELLA + PINK incentives;

The high-level requirements of the campaign would be;

  • Stake minimum of $20 worth of DOT to mint stDOT (min 3 weeks of holding)
  • Stake $20 into stDOT-DOT farm

Timeline

2 Weeks within the start of the campaign we’ll launch the GALXE campaign

Token allocation/distribution plan

100% of the grants allocated to us will go towards the GALXE campaign. Users will be distributed the rewards within a week of the campaign end date.

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Big Aye!
Are you also considering adding PINK as an extra LP incentive on some pools? For instance the stDOT/DOT one?

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hey @Az_StellaSwapCD, first of all, thank you for your proposal!

how will the process of calculating and distributing rewards be transparent and verifiable? what mechanisms are in place to ensure the integrity of this process?

what steps will you take to help new users who are unfamiliar with StellaSwap, particularly in learning how to stake and farm? do you have any specific guides prepared for them?

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I am repeating this question to all teams. StellaSwap:

Although not mandated by the initial post for submissions, would you be willing to put up a follow-up after distribution such as unique wallets, brief review of impact including any metrics, recommendations for improvement?

I think this could be useful data for the community in the event something like this happens again.

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Appreciate the support ser!

To your qn, yes we are. In fact we also planned to boost xcPINK liquidity through STELLA’s own incentives plus PINK.

For stDOT pool definitely!

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Hey Jim,

Definitely! Great feedback and we’ll be sure to post a report detailing key metrics which would be helpful for more distributions like this.

An example of the report could look like this: https://stellaswap.medium.com/ecosystem-grants-transparency-report-1-a93d953fae26

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Hey @turrizt, thank you for your qn!

Since we’ll be using Galxe campaign, distribution is predicated on subgraphs (ie onchain txns). Therefore, qualified users that has done the onchain transaction will qualify and receive PINK tokens. Onchain verification is the fairest way for reward distribution.

WRT to guides, we’re fully prepared through our official documentation below. Beyond that, we ensure that guides are front and center for our campaigns via our social threads, to ensure that users can access the guides directly on our launch announcements vs having to search for them in our documentation. This will make it much easier for users to access the guides. Beyond that, we would be working with key stakeholders such as Moonbeam, Polkadot & Pinknomics to help propagate the campaign via their socials to ensure maximum exposure.

The link to our docs are here;

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After careful consideration, the review team found that your proposal meets the requirements of a deployed Moonbeam project with active users / transactions and is in good standing and is ready to shake things up in your community. Approved.

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Welcome to the fun @Az_StellaSwapCD :dizzy: