@Moonbeam: Key developments in the development of the flagship parachute
Friends, hello!
The year 2021 turned out to be rich in events for Moonbeam, a parachain that is rightfully considered one of the most investable and fastest-growing in the Polkadot network. In case you’re not aware of it for some reason, here’s the backstory.
Deployment of Moonbean on @Polkadot
In April 2020, a key event took place: PureStake, one of the leading providers of blockchain infrastructure and tools, announced the launch of the Moonbeam smart contract platform. The project was backed by well-known investors such as Coinbase Ventures, Arrington XRP Capital, Fenbushi Capital and others. The main goal of launching this platform was to make it easier and more adaptive for developers and users to work with multichannel decentralized applications. In August 2020, PureStake was awarded a grant from the Web3 Foundation that accelerated development of both Moonbeam itself and Moonriver, which was deployed on a test network Polkadot Kusama in June 2021.
In September 2020, Moonbeam launched the Moonbase Alpha test network, available to the public. This event allowed the Moonbeam team to complete a successful initial round to raise $1.4 million from the market. Moonbeam itself is actively pursuing a deployment on Polkadot in 2021, based on the experience gained.
A key feature of Moonbeam (GLMR), which the parachain is positioning as its differentiator and anchor advantage, is that it is a parachain of Ethereum-compatible smart contracts on Polkadot.” Thus, dApp developers are being offered access to a resource that is fully compatible with the Ethereum parachain of smartcontracts wound up in Polkadot. And dApp developers, working with Moonbeam, get an experience identical to Ethereum, without creating risks or problems in the functioning of Polkadot itself.
Developers are able to activate Ethereum Solidity contracts directly on the Polkadot network, and this requires no fundamental changes to the existing code. In addition to this important point, developers are now able to adapt tools that are compatible with Ethereum on the network, while using Polkadot-specific features. These include on-chain management and cross-chain integration, which allows for higher throughput and lower transaction costs.
Moonbeam Crowdloan
The Moonbeam Crowdloan has a fixed limit of 100 million DOT — the maximum that can be collected. 100,000,000 GLMR (10% of the total issue) is allocated to reward participants. A participant’s reward is determined in proportion to their contribution to the total amount of DOT collected in the crowdloan. This means that if full, the user will receive 1 GLMR for 1 DOT clogged.
Moonbeam: participation in auctions
There are currently auctions taking place on Polkadot where anyone can participate. You can participate in auctions through the mobile wallet Polkawallet and several exchanges. When voting through them or the Moonbeam site, users can earn extra bonuses. Auctions take place in batches, with the first 5 auctions taking place in November-December 2021. If a user votes for a particular project and does not win in the current auction, the funds remain locked in favor of that project for the entire batch of auctions.
The auction for Polkadot’s first slot was won by a competing project, Acala, which had over 32.5 million DOT ($1.33 billion) locked up in its favor. In the event, users collectively contributed more than 87.55 million DOT ($3.4 billion).
However, Project Moonbeam won the auction for the second Polkadot parachute slot. In its support, users blocked 35.7 million DOTs worth $1.43 billion.
Moonbeam was supported by more than 200,000 DOT holders. As a sign of gratitude, the developers increased the pool of awards for participation in the crowdsloan by 50% — up to 150 million GLMR tokens. That’s 15% of the network’s total native token offering. The Moonbeam Network’s three-phase deployment process will begin on December 17, 2021. The full launch of the network is scheduled for January 2022. Developers have promised to distribute 30% of the crowdfunded rewards as soon as funds transfers and EVM support become available. The remaining 70% will be distributed via vesting within 96 weeks.
So, friends, the best part is still to come. Don’t miss the opportunity to participate in the Polkadot slot auctions, cast your vote for Moonbeam and get rewards and bonuses from the flagship parachute of our day!
