Beamex PERPadot: Liquidity Incentives program to attract liquidity and onboard new users to the Polkadot ecosystem via Perpetual Trading
Beneficiary:This post serves for discussion, comments and suggestions from Polkadot OpenGovernance for the upcoming Treasury proposal from Beamswap Team.
Proponent Address: 15zT5nrMkpK4NdQRCHdpMvLCaU4Mt2ekVP9hXkPzcMwPNEw2
Requested Amount: 500,000 $DOT for 1 year
Short Description: Liquidity incentive program to attract liquidity and onboard new users to the Polkadot ecosystem by giving them significant liquidity depth for Perpetual trading
Summary
At Beamswap, we acknowledge many significant steps made across the whole Polkadot ecosystem before the Polkadot 2.0 launch. With new interest and new players coming in and committing to the Polkadot ecosystem, users should also enjoy a well-positioned on-chain option for perpetual $DOT trading. The Beamex PERPadot campaign aims to do just that - to create a seamless native decentralized perpetual trading experience.
Beamex is the only and most used platform offering long/short decentralized trading options, limit orders, and swaps without any price impact. This is made possible by price oracles, which draw data from on-chain price feeds and centralized exchanges.
- Primary Goal: Onboarding of new traders to Polkadot
- Project Description: Beamex is the only perpetual exchange on Polkadot, specifically on the Moonbeam Network. As a decentralized spot and perpetual exchange, Beamex delivers advanced crypto trading, both swaps and leverage trades, at low fees and zero price impact, via direct wallet connectivity.
- Requested DOT Grant Amount: 500,000 $DOT
- Use of Grant: 475,000 $DOT would be used to increase market liquidity for Beamex, and 25,000 $DOT would be reserved for trading competitions, marketing efforts and offline events.
- Motivation: Aligned with our vision of becoming a fully user-powered perpetual exchange, the funding of Beamex would significantly contribute to acquiring new users in the Polkadot ecosystem. This would further elevate its standing compared to other networks and projects, such as dYdX on Ethereum, GMX on Arbitrum, and Jupiter on Solana.
If approved, the 475,000 $DOT would be allocated as rewards for BLP liquidity providers over one year. We would reserve 25,000 $DOT (5%), for trading competitions, marketing efforts and offline events. This request runs in parallel with the $DOT LP request, which aims to seed 500,000 $DOT towards the base liquidity of the BLP pool, enabling users to open significant leverage positions on Polkadot.
A secondary goal of the proposal is to create a significant influx of liquidity providers in the Polkadot ecosystem. Offering rewards to liquidity providers has already been proven effective on Beamex with the Moonbeam Grant program. The LM incentives would also lead to increased platform use, which would generate more fees and consequently increase the APY and rewards, making the platform self-sustainable. The growth in transaction numbers, users, 24-hour trading volume, and BLP supply would follow organically.
Please read the full proposal here.
This proposal will run in prallel with Beamex PERPadot: DOT LP Depth , which aim is to create a significant $DOT liquidity depth on Beamex by allocating 500,000 $DOT into Beamex Liquidity Pool (BLP), allowing users to open larger leverage positions natively on Polkadot.
Comments (5)
Confirmation Period
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of 3Decision Period
28 / 28 days
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Aye (17)0.0 DOT
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Nay (59)0.0 DOT
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Hello, Thank you for submitting your proposal, it seems to be a well-written one, with explanations and metrics. Good job on that! My only concern here is trust. You are asking for 1 million DOT through two proposals and I am not aware of much recent activity from you in the Polkadot ecosystem. Liquidity is really one the keys for sustaining Polkadot, but can't you start with a smaller amount? You are releasing DOT through multiple weeks anyways, so it would look nicer if you don't request a huge amount at once, but throughout milestones.
ChaosDAO would like to provide the following feedback from our community. We offer this feedback voluntarily in the spirit of OpenGov, in order to help teams improve their proposals so we can all build the network together.
Some members discussed the adoption of this product versus other offerings in the ecosystem, in terms of adoption, volume, etc.
Some members would be more receptive if the team doxxes themselves by appearing on camera on AAG.
Some members discussed that this referendum is very similar to past refs from HydraDX, Stellaswap, etc.
Some members discussed that the team is not offering a similar amount of their own tokens for incentives etc compared to others like HydraDX - teams should also support these initiatives with their own tokens. In the case of 795 there is no offer of their own token alongside the DOT.
This feedback is for both 794 and 795.
ChaosDAO votes as a collective based on the results of our anonymous internal voting procedures. Our members are not required to provide any feedback about why they have voted in a particular direction. Similarly, to respect our members' right to anonymity, we will not be sharing names of individuals who have chosen to voluntarily provide feedback.