completed

Bridge liquidity for top protocols

$90,000.00 Received
$90,000.00 Requested
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Community Review Results (1 reviewers)
Addresses Challenge
Feasibility
Auditability
Solution

Bridge liquidity for top protocols. The liquidity will be permanent on those protocols so dcSpark won't be getting any direct commission.

Problem:

Most Crypto dApps require liquidity to work correctly. Low liquidity implies jumps in prices, lack of tokens among other undesirable things.

Yes Votes:
₳ 102,707,040
No Votes:
₳ 11,190,433
Votes Cast:
232

Team

This proposal was approved and funded by the Cardano Community via Project F8: The Great Migration (from Ethereum) Catalyst funding round.

[IMPACT]

Bridge liquidity for top protocols in the form of ADA or a Stablecoin. 9 protocols will be selected based on their TVL (Milkomeda based or Cardano based). Their TVL needs to be under 10M to be able to be selected, the next criteria is just based on their TVL using https://defillama.com/chain/Cardano (and any other platform that supports Milkomeda for Cardano).

Providing liquidity to DEXes generates revenue which will be kept in the protocols indefinitely. This solution will help to bootstrap different projects with low liquidity.

Milkomeda will be used as a bridge to bridge USDC / USDT / Other stablecoin to Cardano.

This will act as an incentive to projects to migrate to Cardano (or Milkomeda for Cardano) by getting some extra incentives to be able to compete with other stablished projects.

- Not enough projects will migrate: work with multiple partners to attract good projects.

- Define clear rules before the selection so it is a transparency and fair process

[FEASIBILITY]

- two weeks to create a landing page and set up the rules

- (in parallel) work in attracting projects

- define the winners in a transparent way and provide liquidity

9 protocols will be selected based on their TVL (Milkomeda based or Cardano based) so each one will receive 10k.

dcSpark is one of the core developer of the Milkomeda protocol also it has delivered multiple catalyst projects in a successful way.

[AUDITABILITY]

At least 5 projects should have launched recently and they benefit from this.

At least 5 projects should have launched recently and they benefit from this.

New proposal

Community Reviews (1)

Comments

Monthly Reports

Milkomeda Foundation continued its commitment to supporting and strengthening the Milkomeda C1 Cardano ecosystem through the Bridge liquidity for top protocols grant proposal. Through this initiative, the Foundation will provide liquidity to four high-performing protocols deployed on the Milkomeda C1 Cardano sidechain: Occam Dex, Bluesfhit, Milkyswap, and Muesliswap.

To date, the Foundation will allocate a total of $59,638 in liquidity to these protocols, representing 65% of the grant's funding. The Foundation is committed to supporting at least five protocols through this grant, and is actively working to increase the number of projects benefiting from this initiative.

The additional liquidity provided by the Foundation will enable the selected protocols to thrive and compete with other protocols on the market. By supporting these top protocols, the Foundation is helping to drive innovation and growth within the Milkomeda C1 Cardano ecosystem. We are confident that these efforts will continue to pay off in the future as the ecosystem continues to evolve and expand.

Disbursed to Date
$90,000
Proposal
Bridge liquidity for top protocols
Status
Still in progress
Completion Target
2. In the next 3 months
Attachment(s)
Evidence 1
Comments 0

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Milkomeda Foundation continued its commitment to supporting and strengthening the Milkomeda C1 Cardano ecosystem through the Bridge liquidity for top protocols grant proposal. Through this initiative, the Foundation has successfully provided liquidity to four high-performing protocols deployed on the Milkomeda C1 Cardano sidechain: Occam Dex, Bluesfhit, Milkyswap, and Muesliswap.

To date, the Foundation has allocated a total of $59,638 in liquidity to these protocols, representing 65% of the grant's funding. The Foundation is committed to supporting at least five protocols through this grant, and is actively working to increase the number of projects benefiting from this initiative.

The additional liquidity provided by the Foundation will enable the selected protocols to thrive and compete with other protocols on the market. By supporting these top protocols, the Foundation is helping to drive innovation and growth within the Milkomeda C1 Cardano ecosystem. We are confident that these efforts will continue to pay off in the future as the ecosystem continues to evolve and expand.

Disbursed to Date
$90,000
Proposal
Bridge liquidity for top protocols
Status
Still in progress
Completion Target
2. In the next 3 months
Attachment(s)
Evidence 1
Comments 0

Login or Register to leave a comment!

Sign in Register
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