Greetings from the Beamswap team!
We are a decentralized exchange (DEX) operating on the Moonbeam Network, since January 2022. Our team has been enhancing our platform, aiming to make it the primary gateway for users to connect and engage with the thriving ecosystem of the Moonbeam Network and Polkadot Universe.
Both Beamswap and Moonwell have been selected by the community for Tranche 2 of the Moonbeam Ecosystem Grants, to help play a vital role in driving the next wave of DeFi growth for the Moonbeam Network. Our teams are both participating in the Moonbeam Ignite Campaign, and looking to explore innovative strategies to boost the adoption of native assets on the network.
In recent developments, Circle has introduced Native USDC (xcUSDC) on Polkadot, generating enthusiasm across the Moonbeam Network and wider Polkadot community. The introduction of Native USDC is paramount as it not only expands the utility of native cross-chain assets but also reduces the reliance on bridged wrapped assets.
Despite Native USDC is being accessible on Polkadot through the Asset Hub, it is currently hindered by inadequate liquidity on the Moonbeam Network. In order to lay the foundation for future adoption of xcUSDC, we propose a 0% collateral factor of xcUSDC deposits, while acknowledging the current liquidity shortage for this asset on our network. This proposal’s collateral factor is open to reassessment as liquidity deepens within our ecosystem.
Through this proposal, we aim to establish a market for Native USDC and foster the increased utilization of more Polkadot Native Assets.
If you share our vision for the adoption of Native USDC on Moonwell, kindly support this proposal with an “AYE.” If you have reservations, please feel free to vote “NAY”.
We appreciate thoughts and your consideration of this proposal.
Thank you.