[BS] #1771 - StellaSwap Incentive Program

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https://polkadot.subsquare.io/referenda/1771

StellaSwap is asking for 1 million DOT to continue a program that helps keep Polkadot's DeFi ecosystem active.
The program gives rewards to people who provide liquidity, which makes trading easier for everyone.
StellaSwap is a popular exchange on Polkadot where people can swap tokens.
The goal is to keep users engaged and attract new projects to Polkadot.
This will help increase trading, users, and the total value locked in DeFi.
The DOT grant will be used to support important trading pools.
StellaSwap has already handled over $2.2 billion in trading volume.
They believe this program will help Polkadot grow even more.

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Timestamp

Created

Oct 17 2025 10:29

Start date

Oct 17 2025 10:29

End date

Nov 16 2025 10:29

Votes·3

Anonymous

Nay

投票为Nay
没有对比就没有伤害，Hydration用DOT快速提升了TVL，但是Stellaswap却把自己的TVL弄的更低。

Anonymous

Nay

投票为 Nay
资金利用率过低，仅作为流动性激励进行投入的投入产出比过低，没有形成杠杆作用，因此投票为不支持。

Anonymous

Nay

上一轮激励虽带来交易量增长，但整体 TVL 并未显著增加，同时生态长期留存率不足。如果市场环境依旧低迷（DOT 价格低），新的 100 万 DOT 可能只起到“托底”作用，而非扩张效应。此外 Hydration 也因为 Polkadot Hub 的启动，将激励降低，用于在 Polkadot Hub 启动的时候举行更大规模的流动性计划，所以目前的情况也不适合申请大额资金，Polkadot 生态应该专注在提升 Polkadot Hub 的流动性！

另外虽声明“仅用于流动性激励”，但未提供完整的池子名单、分配比率、绩效考核模型或透明度承诺（例如每月报告、公开奖励数据等）。上一轮也因缺乏持续透明的数据而遭部分社区质疑。