Moonbeam DeFi is Re-Ignited with Ecosystem Liquidity

Singapore, Singapore, Oct. 20, 2022 (GLOBE NEWSWIRE) —

Ecosystem liquidity incentives have recently gone live on StellaSwap, the largest DEX by TVL on Moonbeam. Moonbeam network is the biggest and fastest-growing Ethereum-compatible parachain on Polkadot. In a bid to jumpstart the ecosystem after the Nomad exploit, the community recently passed grants of 12 million GLMR to start attracting liquidity, divided between StellaSwap and Moonwell, the largest DEX and lending protocol on Moonbeam respectively. 

These grants  aim to attract users and applications into the Moonbeam ecosystem, which prides itself as the top destination for cross-chain connected applications. The ecosystem incentive program is now live on StellaSwap, distributed across key farms that include DOT, USDC, ETH and WBTC. 

Moonbeam Ignite: Launch of Moonbeam’s Ecosystem Incentives

Both StellaSwap and Moonwell are working together with the ecosystem to kickstart the ecosystem incentive program by launching a co-marketing campaign called Moonbeam Ignite, with the objective of bringing awareness to new markets and shining light on liquidity incentives across the major assets- xcUSDT, USDC.wh, ETH.wh, BTC.wh, BUSD.wh – as they become available. The campaign aims to encourage growth of the Moonbeam and broader Polkadot ecosystem by drawing in new and existing users, media attention, and participation from other ecosystems such as Binance, Ethereum and Cosmos.

A total of 12 million GLMR ($5.6 million as of 18 October, 2022) has been allocated towards the newly established Interim Grants Program. The main objective of the program is to rebuild baseline liquidity across Moonbeam. As the top native protocols in the ecosystem, the community passed both of StellaSwap’s and Mooonwell grant proposal through a two-week governance process.

Here are the details of the ecosystem incentive program that was allocated to StellaSwap and Moonwell:

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