With support from the vibrant Moonbeam community, a new series of Ecosystem Grants has been officially approved, and the allocation of funds will begin soon. These grants mark another chapter in Moonbeam’s growth, showcasing commitment to fostering innovation, collaboration, and growth within the Moonbeam ecosystem. Read on for the details of the approved grants, each poised to drive the expansion and enrichment of our ever-thriving ecosystem.
Approved grants:
Here are the grants that were awarded by the community and their proposed uses in alphabetical order:
- Beamswap will receive 622,927.68 GLMR to increase market liquidity for Beamex, a decentralized perpetual exchange and concentrated liquidity AMM, and fund Beamswap v3 concentrated liquidity AMM. Read Beamswap’s grant proposal.
- Gamma will receive 890,254.15 GLMR for incentives and development of new AMM support and infrastructure. Read Gamma’s grant proposal.
- Moonwell will receive 1,576,853.40 GLMR to increase TVL and on-chain activity by funding liquidity providers on Moonwell’s Moonbeam deployment. Read Moonwell’s grant proposal.
Selection process:
In all, 13 teams submitted proposals to the Moonbeam Community Forum for consideration. Of these, 3 teams did not qualify, and 10 teams, moved on to the first Snapshot vote including (in no particular order) TFA DAO, Moonwell, Gamma, Beamswap, Moonfit, Stellaswap, Orbiter One, Arden Platform, Charm, and DefiEdge.
TFA DAO did not receive enough support in the on-chain vote to allocate the proposed 1,000,000 GLMR to organize events and build engagement on the Moonbeam Network to increase adoption. Read TFA DAO’s grant proposal.
The current grants process allows for frequent input from the community and unfolds through several key phases. After an open call for proposals on the Moonbeam Forum, during which time each proposal is actively discussed by both the Grants Committee and the community at large, the Community Grants Committee arranges a weighted vote on Snapshot where community members allocate their GLMR weight to eligible draft proposals or the option of not using a portion of the funds. The committee finalizes grant requests based on the Snapshot Vote and submits them on-chain voting. The final phase entails the Ecosystem Grant referenda, with approved proposals moving into the Moonbeam governance process for voting. For successful proposals, implementation begins after voting is finalized, where the Foundation strives to enact passed Ecosystem Grant referenda through direct efforts or contracted partners.
Tranche 2 Milestones:
- June 19 – July 3: Proposal Submissions
- July 3 – July 17: Community Review Phase
- July 21 – July 28: Snapshot 1 (previously started on the 18th, but had to be redone)
- Aug 1 – Aug 8: Snapshot 2
- Aug 8 – Aug 10: Updated Proposals from elected teams
- Aug 12 – Aug 14: Community Review Phase for Updates proposals
- Aug 14 – Aug 28: On-chain vote
- Aug 28th: Finalize grants with winners and roll out rewards.
Snapshot Vote Results
The First Snapshot Vote resulted in a “hung vote” a situation where no clear decision was reached due to unexpected outcomes and intense competition among teams. The first vote was a close call, with teams that were initially leading seeing their positions change dramatically within the last minute.
After adjustments, only TFA DAO reached the minimum threshold of 22.93% of the vote and moved on to the on-chain vote. After extensive deliberation, the grants committee moved to a second snapshot, which in turn resulted in the addition of Moonwell, Gamma, and Beamswap to the on-chain referendum.
More Governance Upcoming
To keep up with the latest announcements and updates regarding the grants program, follow the Grants & Proposals topic on the Moonbeam Community Forum and sign up for an account. You can update your notification settings to receive emails about new proposals and discussion activity.
