Moonbeam (GLMR)

Moonbeam (GLMR)

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An Ethereum Virtual Machine (EVM) Supporting Blockchain built on Polkadot (DOT).

Moonbeam (GLMR) Fact Sheet

  • Moonbeam is essentially a blockchain network that operates as a parachain on top of the Polkadot (DOT) network, and the main way through which it stands out when compared to others is in the fact that it is fully compatible with the Ethereum Virtual Machine (EVM).
  • This means that any Ethereum-based application can get deployed on top of Moonbeam, and the network offers numerous development features such as Solidity smart contract deployment, a Web3 compatible API, oracle data feeds as well as Ethereum network bridges.
  • The native cryptocurrency that is utilized to power all of this is the GLMR token, which is used for transaction fees, staking, governance, and liquidity mining.
  • Moonbeam consists of numerous components which make all of it work, including Polkadot, Parachains, Crowdloans, Slot Auctions, and more.
  • Moonbeam as a project emerged within the crypto sphere in January of 2020 and has the main goal in mind of facilitating cross-chain communication between the biggest blockchain networks.

GLMR Historical Data Price Chart in the U.S. Dollars (USD)

Moonbeam (GLMR) Historical Data Price Chart in the U.S. Dollars (USD). Source: TradingView

What is Moonbeam (GLMR)?

To understand what Moonbeam actually is, we need to go over Polkadot (DOT) and parachains.

Polkadot (DOT) is an open-source blockchain platform that aims to unite as well as secure a growing ecosystem of specialized blockchains, which are dubbed parachains. It allows data and value to be sent across previously incompatible networks.

Parachains are heterogeneous blockchains that are connected to Polkadot, and they are interoperable with the Polkadot network as a whole, as well as other Parachains that live on top of it.

Parachains run in parallel to the Polkadot relay chain, and this is how it has derived its name, which means parallel chain.

With all of that in mind, we can move on to discussing Moonbeam.

Moonbeam is a parachain that connects to Polkadot (DOT); however, it also enables cross-chain interoperability between the Ethereum (ETH) and Polkadot (DOT) blockchains.

Moonbeam is a smart contract platform that was purpose-built to give developers the opportunity to essentially move decentralized applications (dApps) between multiple networks without needing to manually re-code them or re-deploy their pre-existing infrastructure. This means that

Moonbeam aims to help developers facilitate cross-compatible, interoperable applications in the Web3 environment.

How is Moonbeam (GLMR) Used?

The main way through which Moonbeam stands out and the main utility that it provides surrounds its cross-chain capabilities and interoperability with other blockchains.

The more integrations that are able to essentially communicate across the blockchain networks, the more overall utility Moonbeam can bring to the table from both the perspective of its users as well as of the developers.

As such, Moonbeam features multiple functionalities and use cases, and we are going to explore each one of them individually so you can have a clearer perspective as to how all of it is connected together.

The Ethereum Virtual Machine (EVM) support plays a major part within the overall protocol, as it allows for smart contracts, which are written in the Solidity programming language, to migrate without any significant coding changes. Compatibility with Ethereum provides numerous advantages that come alongside it, including smart contract migration, which is the time as well as the cost of moving smart contracts between chains, which is highly reduced.

Then there is access to existing tools, where developers can already utilize the tools available to them, such as Hardhat, Truffle, Metamask, and Waffle, to begin building.

Then there's the access to Polkadot, where any user of the Moonbeam network can access wallets, bridges as well as oracles on Polkadot, as well as cross-chain validation, where user wallets, addresses as well as smart contract signatures have been verified on other Solidity-based networks, can also remain valid on top of Moonbeam as-well.

Then we need to look at the coding language support. Moonbeam, from the ground up, supports any EVM bytecode language. Any developer can utilize Solidity, as well as Vyper, Flint, and Javascript, to develop anything on top of the network, which can be extremely convenient from the perspective of developers.

Then we need to look at Substrate compatibility, where Moonbeam has support for the Substrate Blockchain framework, which is a Software Development Kit (SDK) made for building customized blockchains and is utilized by parachains on Polkadot and Ethereum.

Alongside all of the aforementioned usages, Moonbeam has already integrated several cross-chain bridges, all of which enable assets to get migrated between chains.

Moonriver is also available, which is the testing network for Moonbeam. Basically, on Moonriver, any developer can gain access to EVM compatibility; however, this network has the primary function of being an environment where developers can test their decentralized applications (dApps) as well as smart contracts prior to deploying them on the mainnet, which in this case would be Moonbeam. Furthermore, Moonriver also features its own utility token known as MOVR and Runs on Kusama (KSM), which is the canary network on Polkadot.

Use-Cases of Moonbeam (GLMR)

When we go over the use cases of the GLMR cryptocurrency, GLMR is the Moonbeam network's native cryptocurrency.

GLMR is a utility token that is used as fuel for all and any transactions that occur on top of the network, and it can also be used to provide security to the network. GLMR has also been used for staking-based governance decision-making processes.

In other words, GLMR is utilized for transaction fees, staking, governance, and liquidity mining.

Another key feature of Moonbeam is its Maintenance Mode. The Maintenance pallet is a module that is a part of all of the Moonbeam runtimes, and its main goal is to be utilized only in extremely rare cases where there are existential threats to the network. The mode here is essentially responsible for suspending all of the transaction processing as well as Ethereum Virtual Machine (EVM) execution on top of the network while the regular block production continues.

Governance, as well as Staking operations, can continue to function. However, this is a mode that is initiated by the Technical Committee, one appointed by the Moonbeam Foundation.

Usability & Primary Features of Moonbeam (GLMR)

Ethereum entered the crypto space throughout the early stages, and in order to get ahead, it had to make some initial sacrifices. What this meant was that developers were limited in their capabilities when compared to modern-day blockchains that were released afterward.

Moonbeam is essentially used as a means of enabling Ethereum developers to access a lot more tools that will enable them to create advanced Decentralized Applications (dApps) with more features, fewer fees, and more scalability without the need to re-code anything.

This means that developers can save a lot of time when it comes to the creation process, and the network features built-in integrations for infrastructure services, such as Chainlink or The Graph. Additionally, there is support for many ERC-20-based tokens.


Parachains are decentralized networks that utilize the Polkadot and Kusama blockchains. These networks take advantage of Polkado's security and scalability. However, they process their own individual tokens, governance mechanisms, and much more.


Polkadot is what enables cross-chain blockchain transfer of any type of data or asset, and the blockchain also integrates a sharded design as a means of providing an unmatched level of scalability. Parachains can communicate any type of data directly and can even be customized to meet any requirement, and all of the Parachains get connected through the Relay Chain, which is a technical structure that gives developers the opportunity to utilize other network features and services through a way which is secure.

Smart-Contract Support

Moonbeam was designed to provide a smart contract programmable layer on the Polkadot Parachain ecosystem.

It utilizes Polkadot's consensus system and features its own DPoS (Delegated Proof-of-Stake) multi-layered approach for network smart contract executions.

Tokenomics & Supply Distribution

At the point in time when the Moonbeam network launched, the total supply of GLMR tokens was approximately one billion.

A portion of the network tokens was reserved as a means of ensuring that the network can maintain a parachain slot on the Polkadot Network.

When we go to the token distribution, it goes as follows:

  • Seed Funding - 14% - this is essentially Funding that was completed in September of 2020 and was subject to a 24-month vesting schedule from the network launch, which featured a 3-month lock and equal vesting within months 3-24.
  • Strategic Funding - 12% - this was a strategic funding round that was completed in March of 2021 and was also subject to a 12-month vesting schedule.
  • Take Flight Community Event - 9.8% - Take Flight was completed in September of 2021 and was subject to a 40-day lock with no vesting schedule. Any unused tokens were reallocated to Long-term Protocol and Ecosystem Development.
  • 2021 Moonbeam Crowdloan - 15% - here, 15% is allocated to reward 2021 Moonbeam crowd loan, contributors.
  • Parachain Bond Funding -  3% - Tokens that are under the control of the Foundation can be used to pay for the DOTs required for the Moonbean parachain slot in years 3-6.
  • Parachain Bond Reserve - 0.5% - these are the tokens for parachain bond purposes, where 30% of the approx. 5% annual inflation (or 1.5% of total supply) will automatically flow into this fund to be used for parachain slot sustainability.
  • Treasury - 0.5% - the initial funds on the chain treasury, which can be utilized to fund public goods using the on-chain governance. 20% of the spent fees automatically flow within this fund, while the remaining 80% are burned.
  • Long-Term Protocol and Ecosystem Development - 16.7% - These are the tokens used by the Moonbeam Foundation for protocol development as well as other programs.
  • Liquidity Programs - 5% - these are tokens for liquidity programs that can incentivize the growth as well as the adoption of Moonbeam.
  • Developer Adoption Program - 3.6% - these are tokens utilized as pre-launch incentives for developers and projects that were early Moonbeam adopters.
  • Key Partners & Advisors - 3.9% - these are reserved for strategic partners and advisors.
  • PureStake Early Backers - 1.4% - these were subject to a 24-month vesting phase from the network's launch.
  • Founders and Early Employees - 10% - these go to the founders and PureStake employees.
  • Future Employee Incentives - 4.6% - these are allocated for future employee token incentive pools.

Team & History

When we go over the team as well as the history surrounding Moonbeam, the project was originally created in January of 2002 by Derek Yao, who is the Chief Executive Officer at PureStake as well as the co-founder of the Fuze communication platform.

Yoo launched the Moonbeam Testnet in September 2020. However, the Moonbeam parachain went live for the first time on Polkadot in January of 2022.

There were over 200,000 Moonbeam supporters as well as almost a billion dollar’s worth of Polkadot (DOT) tokens that were allocated towards turning

Moonbeam into a parachain through gaining a slot, as in order for it to become a parachain, it needed to secure a parachain slot on the Polkadot blockchain.

This is due to the fact that Polkadot is a multi-chain network that enables interoperability through the main relay chain that can allow up to 100 parachains to exist.

Activities & Community

When we go over the activity and overall community, we need to look at the social media channels.

Development Activity and GitHub Repositories

When we go over the Official Moonbeam GitHub page, we can see that there are 1,538 commits, 398 branches, and 143 tags. There are 12 issues and 29 pull requests.

There are a total of 32 contributors, 229 forks, and 740 stars.

On-Chain Activity

Looking at its on-chain activity, when we go over data from SubScan, we can see that there are:

  • 1,992,172 finalized blocks

  • 143,206 signed extrinsics

  • 1.035 billion total issuance

  • 165.188 million staked value

  • 4,440,503 transfers

  • 223,635 holders

  • And 2,004 Polkadot Para ID

Source: SubScan

Activities and Partners

References & Reports


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