Many people on the ecosystem are worried about the current price action of DOT, despite all the advances, the tech alone isn't increasing the price valuation of the DOT token, we need to incentivise DeFi initiatives to promote liquidity into the ecosystem, liquidity is the blood of Blockchains.

Many people say Polkadot is a ghost chain because of the low usage activity and investors take this very much into account, StellaSwap changes that, I have personally used both Hydration and StellaSwap and both complement each other perfectly, liquidity isn't fragmented like in other ecosystems, you can take collateralized loans on Hydration to acquire tokens and then use them to provide liquidity on StellaSwap and later you can use the xcDOT rewards that you earned to get more collateralized loans on Hydration and both DEXes complement each other perfectly and are important for the ecosystem. While Hydration uses the omnipool liquid providing method, StellaSwap uses the concentrated liquidity uniswap v4 like method, this diversity of methods are great tools for the users who provide liquidity and want to use them with different strategies and under different circumstances.

We need to support DeFi usage on Polkadot if it is meant to survive. Tech alone won't bring the numbers, DeFi will help with that as it is proven in the success of Ethereum and Solana. 54% of DOT tokens are currently used for staking while 45% rest iddle, less than 1% are used in DeFi, supporting DeFi will help to bring up those numbers and build towards a future DOT aligned economy. StellaSwap has done a great job at capturing DOT with more than 2 million DOTs captured on its liquidity pools.

My support goes to this initiative since it is an important element of the Polkadot ecosystem, the only downside is the lack of integration with other tokens in the ecosystem for example the lack of a liquid staking derivative for Kusama as well as Kusama pools, addressing this issue would help strengthen the ecosystem.

Past Performance

• Referendum: 580
• Status: In Progress⌛

OGT Review

The campaign started with a ~5 month delay on 11.09.2024, as the team was waiting for the BEEFY integration.
Treasury funds were received on 18.04.24.

During that delay the team staked a portion of the received DOT (around 700K DOT) from the StellaSwap multisig to the staking pool that issues stDOT.

Since it was clearly stated in the proposal that under no circumstances the received grant will be allocated for another use, we reached out once again to the team for further input so we could better understand the reasons behind this activity.

• The StellaSwap team replied to us that the reason behind this decision was to avoid leaving the DOT idle and to generate more incentives for the campaign.
• In addition, they assured us that the entire amount of the generated rewards through staking will be allocated to the campaign.
• They also informed us that the campaign will be expanded until the end of November as they have more rewards to distribute.

This use of the funds can be considered acceptable and understandable from our side as long as the team provides all the necessary information that justify the above claims.

Specifically, we requested a detailed breakdown of:

1. The exact amount of DOT generated through staking during that period.
2. The exact amount of extra DOT that was added to the campaign.
3. The total amount of distributed rewards for both DOT and STELLA tokens.

The team told us that they will provide an in-depth overview about the campaign and the points we raised during their new proposal submission.
However, we are unable to locate any of this important information or a related update on that front in the shared proposal documentation.

We would much appreciate if you could elaborate further on the matter or redirect us towards the expected report.

Thank you in advance.

Past Performance is our second experimental approach, after OGT Rating, to target pre-approval practices and help voters make better informed decisions.
We share our findings and further insights about the previous proposer's work and its overall status.