Beamswap quarterly report Q2 2024
Record-breaking 9-figure volume on Beamex, initiatives to boost activity and relevance of the Moonbeam, Moonriver and Polkadot networks, and plenty of community activities.
The first half of the year is behind us, and it’s time to recap the events that market the past three months. Despite typically slower summer days, the Beamswap and Beamex platforms delivered. Big time.
Q1 2024 highlights
📈 Beamex volume through the roof
Beamex, the only platform on the Moonbeam Network for fully decentralized trading of crypto derivatives, has achieved impressive stats in the past few weeks.
The daily volume chart rose up to the $2,500,000 mark, while the total volume on the exchange hit the magical 9-figure threshold and has surpassed $100,000,000.
The new records are also a result of Moonbeam Network’s Season 3 Grants, which boosted the daily trading activity on Beamex and across the Moonbeam Network with higher rewards.
🚀 Expansion
In late April, the Beamswap team submitted a proposal for a liquidity incentive program and development. The goal? To revive the Moonriver ecosystem and to channel increased liquidity back to the Kusama Network.
Network’s backing and concentrated liquidity incentives aimed to increase the platform’s capital efficiency. At the same time, the Moonriver network could benefit from higher asset utilization, high efficiency, low slippage on all trading pairs, and sustainability via default fee sharing.
Beamswap’s initiative soon grew from an idea to a solid plan. The Moonbeam ecosystem’s decisionmakers have approved the plan, making Beamswap the chosen provider to launch a Mooriver-based DeFi hub.
The decentralized exchange will add a new channel for the Moonriver network to attract and retain more users and generate greater trading activity.
On another front, the Beamswap team submitted two proposals to increase the $DOT liquidity on Beamex and onboard new users to the Polkadot ecosystem.
👉 Beamex PERPadot Proposal: $DOT LP Depth Loan (500,000 $DOT)
👉 Beamex PERPadot Proposal: $DOT Liquidity Incentives (500,000 $DOT)
A significant $DOT liquidity depth in the Beamex Liquidity Pool (BLP) would allow traders to open larger leverage positions natively on Polkadot, leading to stronger interest and influx of new traders executing a greater number of transactions on the network.
What else happened
💰 $DED token was listed on Beamswap for trading and liquidity provision
🎀 $PINK Airdrop activities rewarded the PINK token traders and stakers
📜 Beamswap submitted a proposal for a liquidity incentive program
🏁 Gauntlet presented new guidelines for Moonbeam Grant Allocations
🎤 The Beamswap team attended EthPrague, a leading Web3 event in the EU
📑 Beamswap GitBook was updated with monthly and quarterly recaps
💸 Grant Rewards went live in the Beamex Liquidity Pool to reward LPs
Dive into all the deets of monthly highlights. 👇
Jump into the new era of DeFi on Moonbeam and Moonriver with Beamswap and Beamex.
Join us as we conquer new territories, upgrade the current offerings, and deliver the best trading experience in the ecosystem. Stay DeFiant! 🚀
About Beamswap & Beamex
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. Beamex is the only perpetual DEX on the Moonbeam Network, allowing you to trade crypto derivatives with leverage directly from your wallet.
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