Moonbeam
Moonbeam Network is a parachain on Polygon. The network is EVM-compatible[1] and aims to be interoperable with Ethereum and other chains.[2] Moonbeam uses Glimmer token (GLMR) as the gas and utility token.
History
The network launched a testnet in September 2020 after being awarded a grant from Web3 Foundation.[3]
A $1.4m seed round was also raised in September of 2020.[4]
Moonbeam announced a sister network, Moonriver in March 2021.[5] Moonriver is the Kusama implementation of Moonbeam and Kusama is essentially a pre-production environment for developers on Polygon.
The Moonbeam Foundation Medium announced details for the GLMR crowdloan sale in October 2021.[6]
This crowdloan was eventually successful and claiming went live in January 11th 2022.[7][8] The same day, Moonbeam went live on Polkadot.[9]
Glimmer Token (GLMR)
The Glimmer token (GLMR) is used as the utility token for Moonbeam network. Some uses are gas metering, securing the network, and on-chain governance.
Glimmer launched with 1 billion tokens allocated as follows[10]:
Allocation |
Amount |
% |
Release Schedule |
|---|---|---|---|
| Seed Funding | 140,000,000 | 14% | 24-month vesting schedule from network launch with a 3-month lock and equal vesting in months 3–24. |
| Strategic Funding | 120,000,000 | 12% | 12-month vesting schedule from network launch with a 2-month lock and equal vesting in months 2–12. |
| “Take Flight” Community Event | 98,211,164 | 9.8% | Subject to a 40-day lock with no vesting schedule. |
| 2021 Moonbeam Crowdloan | 150,000,000 | 15% | 30% of tokens were distributed at network launch (when transfer and EVM were enabled), and the following 70% vest linearly on a block-by-block basis over the life of the lease (96 weeks). |
| Parachain Bond Funding | 30,000,000 | 3% | N/A |
| Parachain Bond Reserve | 5,000,000 | 0.5% | N/A |
| Treasury | 5,000,000 | 0.5% | 20% of spent network fees will automatically flow into this fund (the remaining 80% of spent fees are burned). |
| Long-Term Protocol & Ecosystem Development | 166,770,536 | 16.7% | N/A |
| Liquidity Programs | 50,000,000 | 5% | N/A |
| Developer Adoption Program | 35,550,000 | 3.6% | 2-year monthly linear vest. |
| Key Partners & Advisors | 39,468,300 | 3.9% | Advisors are subject to a 24-month vesting schedule from network launch, with a 7-month lock and equal vesting in months 7–24. Strategic partners are subject to a 12-month vesting schedule from network launch, with a 2-month lock and equal vesting in months 2–12. Seed partners are subject to a 12-month vesting schedule from network launch, with a 3-month lock and equal vesting in months 3–24. |
| PureStake Early Backers | 14,000,000 | 1.4% | 24-month vesting from network launch, with a 7-month lock and equal vesting in months 7–24. |
| Founders and Early Employees | 100,000,000 | 10% | 4-year vesting schedule from network launch with a 1-year cliff and monthly vesting thereafter. |
| Future Employee Incentives | 46,000,000 | 4.6% | 4-year vesting schedule from network launch or grant date (whichever is later) with a 1-year cliff and monthly vesting thereafter. |
References
- ↑ https://docs.moonbeam.network/learn/features/eth-compatibility/
- ↑ https://docs.moonbeam.network/learn/features/xchain-plans/
- ↑ https://www.purestake.com/news/purestake-awarded-web3-foundation-grant-moonbeam/
- ↑ https://medium.com/moonbeam-network/a-look-at-our-1-4m-seed-financing-for-moonbeam-cfd0356c6a8c
- ↑ https://medium.com/moonbeam-network/about-moonriver-the-kusama-implementation-of-moonbeam-a626cf679988
- ↑ https://medium.com/moonbeam-network/moonbeam-crowdloan-what-you-need-to-know-2ec815c244ae
- ↑ https://moonbeam.foundation/moonbeam-crowdloan/
- ↑ https://medium.com/moonbeam-network/how-to-claim-moonbeam-crowdloan-rewards-e1b09bb8e965
- ↑ https://moonbeam.network/announcements/moonbeam-live-on-polkadot/
- ↑ https://moonbeam.foundation/glimmer-token/