Beamswap in 2023: A Year in Review
In its sophomore year, Beamswap has left a mark on the DeFi ecosystem in quite a few ways.
As we wrap up more than just last-minute gifts and look towards new beginnings, it’s time for a retrospect on the biggest highlights of Beamswap and Beamex.
But before we dive in, the whole Beamswap team would like to thank everyone, from the earliest platform users to those who joined us yesterday, for their interest in boundary-defying technologies and their trust in what we do.
Without the incredible support of our community, none of the launched features or opportunities would have reached their true potential.
Thank you for making DeFi serve real people! 🚀
Now, sit back, relax, and enjoy the flight through the past 12 months at Beamswap. ✈️
🚀 Evolution of the Beamswap and Beamex
🟣 Beamswap v3
It’s safe to say that in its second year, Beamswap, a leading DeFi platform built on Moonbeam, has reached its maturity phase.
What started as an AMM-based DeFi platform, gradually reached new heights (and opportunities) by transitioning to a CLMM-based DeFi hub, or Beamswap v3 for short.
The upgrade brought in increased capital efficiency and was further topped by some other critical integrations that enhance user experience:
💧 BrainDex liquidity aggregator boosted liquidity sourcing;
📊 Gamma increased concentrated liquidity with custom strategies;
🌉 Wormhole brought in cross-chain Bridge and Wormhole assets;
🌔 Moonbeam XCM SDK eased onboarding of DOT assets to Beamswap;
🔀 BrainDex enabled price-impact-free trades and seamless routing.
Of course, features like Yield Farms and Staking remained a staple, with multiple opportunities for a passive boost of users’ crypto portfolios.
And right at the turn of the year, all of the above led the platform to another milestone.
As tracked by DeFiLlama, the all-time trading volume on Beamswap crossed the $500,000,000 mark.
The constant improvements and subsequent growth of the platform didn’t go unnoticed. Our native network provider, Moonbeam, welcomed Beamswap to Moonbeam Ignite, an initiative to boost liquidity for Moonbeam-built projects and spur their adoption.
See the features that makes Beamswap v3 one of the top DEXes in the ecosystem. 👇
🟣 Beamex
Earlier this year, a major addition to the Beamswap space was launched.
Recognizing the need of our core user base to execute trades that are more advanced than simple but effective swaps, the Beamswap team set off to deliver the decentralized edition of futures trading.
Beamex, the perpetual DEX on Moonbeam, was born.
A thousand users joined in just the first few days. And from there, it only went uphill.
Apart from the ability to trade futures contracts of crypto token pairs from the comfort of their wallets, without having to trust their assets to a centralized platform, traders enjoy Beamex for:
💰 BLP token, Beamex’s native liquidity provider token;
⏫ x50 leverage on Beamex trades;
📈 Low fees and zero price impact;
📊 Analytics page and stats helping them make informed decisions;
💸 Prime Protocol that incentivizes cross-chain lending;
💺 Beamex Lounge bringing traders and their stats together.
Just recently, the total trading volume on Beamex reached $30,000,000. And it shows no signs of slowing down. 📈
The Beamex DEX also got tracked by DeFiLlama, a leading DeFi analyst, to provide valuable insights for users, and listed on Builda as one of the hottest projects in Web3. 🔥
Advance your crypto trading game with Beamex. 👇
🟣 New and Unified UI
After months of operating as separate (yet correlated) entities, Beamswap and Beamex had their UIs merged seamlessly into a unified gateway to DeFi and DEX opportunities.
A cleaner and more professional look has greatly improved user experience, while the unified menu allows users to navigate swiftly between the Beamswap and Beamex features.
💰 GLINT & stGLINT
When the Beamswap DeFi hub first launched, users could unlock the platform’s own features through two native tokens, GLINT and SHARE.
This year, the SHARE token was replaced by stGLINT, the staked version of GLINT, which introduced the potential for greater utility of platform-native assets beyond staking.
Today, the GLINT and stGLINT brothers are proudly serving some neat numbers:
🔒 Over $1,000,000 in total value locked (TVL) of stGLINT
🔑 Over $2,000,000 staked in GLINT
🔥 Over 250,000,000 GLINT burned from the circulating supply
🟣 Binance Web3 Wallet
However, the impact of the GLINT token was not confined to the walls of Beamswap.
A few months ago, GLINT got listed on one of the industry-defining crypto platforms, Binance Wallet.
The listing of the GLINT token by Binance Wallet is a strong sign of ecosystem recognition and, simultaneously, an obligation for the team to continuously maintain and boost the token’s role in the DeFi world.
👪 Community
Of course, none of the above would have hit the news without every single person who embraced the features, assets, and opportunities of the Beamswap and Beamex platforms.
Even though the users have grown so familiar with both that there’s hardly any introduction needed, we always strive to pay back to the community — either through education, live talk streaming, competitions, and events where it’s all about personal interaction.
Together with our partners, we launched multiple community-building campaigns that rewarded the Beamswap and Beamex traders in different ways, including:
📈 Open Beta Campaign with $1,500 GLINT prize pool;
🤑 Zealy Sprint x Beamswap competition with $500 stGLINT distributed;
🗳️ NFT badges for voters on Moonbeam Grant Proposal;
🦑 Beamswap x Squid’s Boost Grand Prix Challenge;
⛱️ Beamex’s DeFi Summer Giveaway with $1,500 stGLINT prize pool;
🤑 Beamswap x Equilibrium Giveaway with $300 in $xcEQD tokens;
🔴 Polkapals Quest II competition with a variety of prizes;
🎄 Beamswap’s 12 Days of DeFi with a $3000 pool of $USDC and $stGLINT;
and more.
The Beamswap team attended several events to spread the word about DeFi and the Polkadot ecosystem. On the digital front, we participated in countless X Spaces, either hosting them or sharing the mic with other teams, as well as online conferences like PolkaDeFiance. In real-life venues, on the other hand, the word about Beamswap was spread at:
📍 ETHDenver, the world’s longest-running Ethereum event;
📍 Consensus 2023, CoinDesk’s flagship event.
Speaking of ecosystem backing, it is only appropriate to mention the support that spanned beyond likes, shares, and claps. In our pursuit of the goal to provide the best opportunities, high liquidity included, to our users, the Beamswap team sought backing from Moonbeam Ecosystem Grants.
After Referendum #91 successfully passed for Tranche 1, we submitted the Proposal for Tranche 2 of Moonbeam’s grants initiative. The vote on revised Beamswap’s Grant Proposal went live on Polkassembly, too, and passed with nearly all votes in favor. 🙌
2024, bring it on
As we have grown from humble beginnings in early 2022 to mature DeFi and DEX platforms, the ecosystem has been equally evolving, with new solutions and opportunities popping up on a monthly basis.
The Beamswap team stays committed to working hard and keeping up with the latest trends to serve you the best of decentralized finance and trading in 2024 and beyond.
Join us as we push the frontiers of DeFi and start a new page in your calendar with a commitment to put yourself (and crypto assets) first. Happy New Year, everyone! 🚀
About Beamswap
Beamswap is a DeFi Hub built on the Moonbeam Network featuring a decentralized exchange (DEX) and an automated market maker (AMM). It gives users the freedom of adding liquidity, performing peer-to-peer transactions, swapping fungible tokens, and earning passive income from staking and yield farming. Beamswap will support the growth of Moonbeam’s ecosystem and act as a launchpad for new projects developing on the network. Our team’s mission is to aid in the multichain vision to serve as a host for projects on the Moonbeam & Polkadot Ecosystem while working alongside projects with existing infrastructure looking to bridge into the multichain universe.
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