StellaSwap Incentive Program
Proponent Address: 126AevKcm3RXJazGQWKYwtRvpjMmCBGV5W6LWeWLEc17YQ2n
Requested Amount: 1,000,000 DOT
Date: 07-03-24
Short Description: Liquidity incentive program to attract liquidity and users into the Polkadot ecosystem and deepen market depth to kickstart flywheel effects to the rest of the network.
Summary
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Primary Goal: Grow DeFi Activity (active users, transactions, TVL) on Polkadot
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Project Description: StellaSwap is a highly-efficient, integrated DEX that features a standard, stable and concentrated liquidity AMM to facilitate the most optimal price discovery for assets on Polkadot
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Requested DOT Grant Amount: 1,000,000 DOT
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Use of Grant: The ecosystem grant will be used to grow & deepen the market depth of strategic assets for widespread utility across the Polkadot ecosystem. The effectiveness of grants via StellaSwap can be quantified via our efficiency rate, which multiples the market depth beyond our target TVL goal
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Motivation for Grant Amount: Liquidity depth is a necessary requirement for a robust and efficient marketplace that powers the ecosystem. StellaSwap accounts for the highest trading volume in Polkadot - both cumulative & daily - and DOT grants will foster much deeper liquidity for users and help accelerate the DeFi flywheel effect by increasing network activity and exposure
Full Proposal doc Here
Comments (27)
Requested
Proposal Passed
Summary
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Aye
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Nay
Aye (121)0.0 DOT
Support0.0 DOT
Nay (50)0.0 DOT
Hello stellaswap team, I am one of the regular users of your DEX and I am happy that you submitted this proposal to Polkadot OpenGov to increase the TVL of Stellaswap, it makes users like me really comfortable when trading. My personal opinion is as follows:
I appreciate what the Stellaswap team has done for our ecosystem!
@linhthuy
Hi ser! Thank you for your feedback and appreciate your support.
We're looking at the most optimal time duration for ecosystem grants and the final grant amount that makes sense. Usually, we see phases of 6M as the optimal time for the success of the program; if its too long then the efficacy decreases with time. But keen to hear more feedback on this.
We're definitely engaged with most parachains to add greater synergy for the incentive program. This may include shared marketing efforts, boosting native project incentives, onchain campaigns etc in a bid to further boost reach. We feel that the role of an ecosystem DEX is to support and continually showcase native assets.
Noted on the LSD assets, we concur.
We're excited to share that we've explicitly mentioned in our proposal that we'd transit our eth-based assets (ETH & wBTC) post-Snowbridge launch. So this means that our farms will consist of ETH.snowbridge & wBTC.snowbridge, as part of the incentive program. For iBTC, we'll add that to the mix!
Noted, and we're gonna support a wider range of native Polkadot assets!
Who on the Stellaswap team is full-time on the project? How much of their income comes from revenue generated by the protocol vs grants like these?
@Eddie
Hi there,
We have 9 full-time employees working on StellaSwap, and we've been doxxed on Moonbeam and via numerous physical events.
Any grants that we receive are purely liquidity incentives fully distributed to stakers; none of which is kept for development or expenses. Meaning, 100% of grants are meant for liquidity mining programs. Our expenses are taken care by the revenue we generate as a DEX.