ABSTRACT
Beefy is looking forward to bringing back excitement to Moonbeam. The grant will be used to incentivize capital to move into Moonbeam, and to educate users on how all the DeFi pieces work together to get the yield. (bridges, farms, vaults, etc.) We will support Wormhole tokens since it was overwhelmingly chosen by the community.

MOTIVATION
Based on past experiences we can say that grants are the best tool to bring value into a chain. Grants have a direct impact in TVL, but there is an underlooked aspect that is also very valuable. Having dapps with good amounts of capital locked in their protocols fosters the growth of other teams that want to build on top of them. This is a key concept in web3 called composability. For example Qidao is a protocol that allows users to mint MAI against their mooTokens (Beefy deposit receipts), protocols are more likely to build on top of others that have significant amounts of TVL.

PROJECT OVERVIEW & TEAM EXPERIENCE
Beefy is the multi-chain yield optimizer known for its high security standards. Every protocol that gets listed on Beefy passes strict safety checks to ensure the platform where our users are depositing is safe. This frequently results in Beefy joining talks with these teams, helping them adjust their security measures, and most of the time partnering with the underlying protocol, making it known to our vast multi-chain audience.
Beefy also has a multi-chain app. This means that the opportunities across 17 different chains can be compared side by side to choose the best place to put your tokens to work.

Beefy’s team is composed of highly talented contributors, from Solidity developers, to designers, writers, editors, marketing experts, and more. This diverse team contributed to the success of the protocol that reached $1.4b in Total Value Locked during the bull market.

Beefy is trusted by the web3 community, but not only that, also protocols love to work with us. We managed to partner with almost every big protocol in the space, from AMMs like Stellaswap, Velodrome, TraderJoe, to liquid staking protocols like Lido and Stader just to name a few.


BEEFY TRACTION

Point #1: Cumulative Traction Metrics of Beefy 
- Beefy had a peak TVL on Moonbeam $14.82M on May 2022, during the bull market, but now in much worse market conditions Beefy still managed to grow significantly, sitting now at $8.61M TVL
- For Beefy there is no bear market in terms of users. In the following graph we can see how deposits stagnated but never decreased. Beefy users are set and forget kind of users, where they just enter a vault and leave their deposit for long periods of time.

![](https://i.ibb.co/bHBB6mR/Beefy-Moonbeam.png)
- Beefy also has 271k followers on Twitter, and almost 20,000 in Telegram, and 14000 in Discord, so anything that gets communicated reaches a broad user base.

Point #2: Moonbeam Traction (Prior to Nomad)
- Peak TVL: $15M, which represented over 11% of total Moonbeam TVL at that time.
- Popular avenue for protocols to boost TVL; StellaSwap leveraged on Beefy's Boost mechanism twice to attract more users.

![](https://i.ibb.co/XtjQ58J/unnamed-1.png)

One of the STELLA-GLMR boosts took place on 18 Mar 2022. This brought new investors to the pair, increasing price, and yields in the underlying platform. We plan to replicate these effective activities with the GLMR from the grant.

As seen from both our cumulative metrics across DeFi and Moonbeam, Beefy is one of the most popular protocols on DeFi that serves a vital need for users. Beefy's reach to attract TVL and users has been a massive help for protocols on Moonbeam, enabling greater visibility and traction across the wider DeFi space.


RATIONALE
The Moonbeam ecosystem will stand to gain in the following ways;
Get direct exposure to users with capital on other chains thanks to our multi-chain app.
Reinforce our support to the chain, endorsing Moonbeam (as we were doing before) as a safe place to invest (since we apply the same safety standards to every protocol we list)
Capture “set and forget” kind of users thanks to Beefy’s ease of use.
Improve liquidity on underlying AMMs/lending protocols thanks to new deposits added through Beefy.



Bridge Selection
We understand that liquidity fragmentation can cause huge problems on the chain. Users' experience is bad overall, sometimes needing to swap different versions of tokens with each other and experiencing loss through price impact, slippage, and creating arbitrage opportunities for bots. We will prioritize vaults with Wormhole tokens since it was overwhelmingly voted by Moonwell’s community, and the protocol itself is one of the most trusted bridges in the space.

VISION OF SUCCESS
We want to bring back users and TVL that left after the Nomad exploit. We have a great analytics platform that allows us to draw data from before and after the exploit. If we manage to surpass that level of TVL and users we will consider the Level 2 grant as successful.

LAUNCH STRATEGY
87% of the grant will be used to directly incentivise vaults on Moonbeam. This will be done through “Beefy Boosts'' which means adding extra token rewards on top of the auto compounding vaults. At the moment of launching the Boosts we do all kinds of marketing activities and communication.

In order to maximize the impact of our suggested Beefy Boosts, here are several deliverables that will be undertaken by Beefy's team that highlights our commitment in making this a success:

- Add educational pieces in our blog
- Organizing several Twitter Spaces
- Creating Twitter threads
- Displaying Discord announcements
- Telegram pinned messages
- Several other ancillary actions that will propagate our efforts

To raise awareness about Wormhole, why it is safe, and what Moonbeam and other protocols are doing in order to bring back users and their trust to the chain. In a nutshell, we will use the grant to put Moonbeam and their protocols in the spotlight.

In addition to the aforementioned, we're also working with StellaSwap to be the first Active Liquidity Managers (ALMs) for the upcoming launch of StellaSwap's concentrated liquidity farms. This is amazing news to the ecosystem because it shows substantial improvements on slippage, price impact, and overall trading. The only downside of concentrated liquidity is the management, since unlike normal liquidity provisioning, you need to manage your position to keep it in range, earning the biggest amount of trading fees. This proposes a challenge because not all users have the knowledge and time to rebalance their position and keep it earning fees. Enter Beefy.

Beefy is constantly working to stay a future-fit protocol, keeping pace with the latest developments in terms of farming, lending, staking, and anything related to yield. This is why our team saw the sudden shift to concentrated liquidity and started working on a solution to give the same ease-of-use that we were doing before, but with more complex and elaborated strategies that compounds the earned fees, and keep the positions in range (leveraging Chainlink’s and Gelato technologies) so you are always earning, effectively giving the same user experience as v2 liquidity, but with the benefits of v3. Locking decent amounts of TVL will be a success for Beefy, the underlying protocols, and the chain.

CONSERVATION STRATEGY
Beefy’s TVL is sticky. Due to ease of use of our protocol, many of our users enjoy the peace of mind of not having to manually compound their rewards on a periodic basis, so they just set their deposits for long periods of time. Beefy also has a huge amount of users. 


Grants Overview
The grant’s focus will be to develop cutting-edge strategies for concentrated liquidity farms, enabling users to earn sustainably through trading fees, and allowing protocols to be more efficient with their incentives. The other and bigger part of the grant will be used to directly incentivize vaults, effectively bringing the TVL to the chain. The split will be 87% going to Beefy Boosts on Moonbeam, and the remaining 13% to pay for the contributors working on the full deployment of concentrated liquidity vaults (front-end adaptations, api rework, solidity strategies, Chainlink/Gelato integration, etc.)

USE OF GRANT
Beefy is requesting $150,000 in GLMR tokens. $130,000 will be used to boost native pairs like STELLA-GLMR, WELL-GLMR, stDOT-xcDOT, just to name a few. The Beefy Boosts on native pairs generally result in deeper liquidity to support bigger trades, higher APRs, and increased awareness of the platform getting boosted. We are also planning boosts on stablecoin vaults. The rationale behind this is to offer above-average APYs on stablecoins, so people feel attracted again to bring their stables to Moonbeam. We are planning to be mindful of the distribution time, to maximize the marketing exposure, and spend the grant in a period of 6 months. The remaining $20,000 will be used to partially reward contributors for their effort of creating these innovative vaults.

- Beefy is a platform that helps users earn money through decentralized finance (DeFi) on Moonbeam.
- They want to bring back excitement and users to Moonbeam by using a grant to incentivize capital and educate users on how DeFi works.
- Beefy has a strong team and is trusted by the web3 community.
- They have had success in attracting users and TVL (Total Value Locked) in the past.
- They plan to use the grant to boost vaults on Moonbeam and improve liquidity on AMMs/lending protocols.

#226 Beefy Larger Grants (Level 2) Proposal

No Active Proposals