Ecosystem Restart: Farms Relaunch Dates with Boosted Liquidity Incentives
The time has come for us to rebuild the Moonbeam ecosystem! 🎆
The community has come a long way after the Nomad exploit that resulted in a halt of liquidity for strategic farms. As the leading DEX on Moonbeam, StellaSwap has been working hard to spearhead the rebuilding of ecosystem since then, working with various stakeholders within the ecosystem to charter a path forward.
This has culminated into our recently passed ecosystem proposal, which — along with Moonwell — managed to garner the support from the entire ecosystem. Along with that, we’re proud to make history with the highest community turnout on the network!
Overview of the Path Forward
StellaSwap’s recently-passed ecosystem proposal has outlined all the key design decisions for restarting the ecosystem and its corresponding justifications, which is centered around 3 core elements;
- Key Objective: Establishing baseline liquidity of strategic assets
- Strategic Bridge: Wormhole
- Liquidity Incentives: 7.8M GLMR + 4.6M STELLA (Across 24 weeks)
For greater context on the arrival of the aforementioned design decisions, it is imperative for you to read our comprehensive proposal to understand the thought process and analytical framework that underpins each facet. Our proposal can be found here: StellaSwap Ecosystem Grant Proposal.
We have recently announced a strategic partnership with Wormhole, which will be our strategic bridge.
Relaunch Dates for Strategic Farms with Liquidity Incentives
We know everyone has been excited about this, and we want to ensure that we do things right. On that note, we’ve elected to relaunch farms on a staggered basis. This ensures that we optimize for capital inflow acquisition in a focused and effective manner.
Here’s the sequence for the farm launch;
Some things to point out:
- .wh suffix refers to Wormhole-wrapped assets. StellaSwap will be relaunching our native bridge with Wormhole bridge across Ethereum and BNB chain, to facilitate easier bridging for users
- Emissions for DOT — GLMR farm, which is currently an active farm, would see an increase in emissions as per the emissions schedule established on our recently-passed proposal
- The rationale for turning on the rewards tap at a (minimum) of 24 hrs cadence is to foster initial liquidity first, so that slippage will not be crazy for traders. Also, this allows ZAP to be functional with a base level of market depth
- Welcome, BUSD! We’ve decided to drop DAI from our basepool and replace it with BUSD, the 3rd largest stablecoin in crypto. This is predicated on its popularity as the medium for Binance, one of the largest CEX around, as well as for strategic reasons to foster greater listing potential for Moonbeam projects on Binance.
- All hail native USDT 💥 Yes, you read that right. Native USDT will be featured on our basepool. No bridge risk, no sleepless nights.
- USDC.axl metapool would be launched nearing to the date of Squid launch, which is expected to be at the end of October — early November. Once a date is finalized we will publish the date for farm launch and subsequent steps
StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.