What is Moonbeam (GLMR)? Information about the duo GLMR & MOVR

• Overview of the Moonbeam project
• What is Moonbeam?
• What problem does Moonbeam solve?
• Some outstanding features of Moonbeam
• Moonbeam's Network
• Project team, investors and partners of Moonbeam
• Moonbeam's development roadmap
• Moonbeam Token Overview
• What are GLMR & MOVR used for?
• GLMR . Token Allocation Schedule
• How to own Moonbeam tokens
• Which is the most secure Moonbeam storage wallet?
• Should invest in the Moonbeam project or not?
• Conclude

Overview of the Moonbeam project

What is Moonbeam?

What is Moonbeam, known Moonbeam is an open source smart contract platform that provides an Ethereum-compatible environment. Specifically, Moonbeam provides an EVM (Ethereum Virtual Machine) virtual machine system, an API (Application Programming Interface) programming interface compatible with Web3.0 , and a Moonbeam bridge with the Ethereum blockchain (ChainBridge).

In addition, Moonbeam also added features such as On-chain governance, Staking, and Cross-chain technology integration to create a complete platform for project developers to easily set up. develop and build decentralized applications (DeFi DApps).

Moonbeam is also considered a Parachain on Polkadot if it wins the Parachain auction. At that time, Moonbeam will have shared security from Relay Chain and be able to connect with other Polkadot Parachains. In the third quarter of 2021, Moonbeam will launch the mainnet.

What problem does Moonbeam solve?

Firstly, Moonbeam was created to solve the current problems that Ethereum faces: high gas fees, slow transaction processing speed, and frequent network congestion. Ethereum is capable of processing 15 transactions/second, while Moonbeam processing 1000 transactions/second can increase to 3000-4000 transactions/second.

Second, the platform provides a bridge between Ethereum and Polkadot, making it easy for applications and users from Ethereum to migrate to the Polkadot platform.

Third, Moonbeam can connect cross-platform decentralized applications on the Polkadot ecosystem. This means that applications previously deployed on Ethereum can interact and connect with Polkadot's ecosystem. Thereby, Ethereum projects can take advantage of Polkadot's unique features. This opens up the potential for Ethereum-only super applications to be developed even better because the Polkadot platform is inherently flexible and has many customizable features and technologies to suit the needs of developers. software.

Finally, Moonbeam is a fairly new project, but due to its ability to optimize costs, it has attracted a large number of users, project developers switched to using this platform instead of platforms like Binance Smart Chain. , Polygon…

Some outstanding features of Moonbeam

Ethereum blockchain compatibility : The project developer can proceed to redeploy the existing Ethereum smart contract on Polkadot without reprogramming.

Multi-Chain Support : Moonbeam uses Multi-chain technology. This technology helps projects developed on Moonbeam reach many investors from different ecosystems.

Cross-chain technology integration : Investors using projects developed on Moonbeam can interact between two or more different blockchains without the need for a 3rd party.

Provide Advanced API : Project developers can easily bring their entire front-end DApps to Moonbeam using familiar tools like Truffle, Metamask without much change.

Substrate compatible toolkit : Moonbeam provides a toolkit that includes a block explorer, a Front-end development library for apps, and a crypto wallet. This makes it easier for developers as well as users to interact with blockchain applications.

On-Chain Governance : Governance will take place on-chain to help Moonbeam stakeholders quickly build and develop the underlying protocol according to the needs of project developers as well as users. .

Moonbeam's Network

Moonbase Alpha : This is a test version of Moonbeam hosted by PureStake. Moonbase Alpha will act as a Parachain connected to Relay Chain. Thereby, developers can test Moonbeam's Ethereum compatibility in the shared space from Parachain without running their own nodes or networks.

Moonrock : This is a test version for Rococo and was first deployed in May 2021.

Moonriver: On Kusama there will be a network similar to Moonbeam called Moonriver with MOVR tokens. It was designed to test new features before updating to Moonbeam and has become Parachain on Kusama. 

Moonbeam Polkadot Mainnet : It is expected that by the end of 2021, Moonbeam will launch the Mainnet version and be deployed as a Parachain on Polkadot. This is the version with the highest level of security and availability. The codes will first be sent to the above networks, if they work properly, they will be transferred to Moonbeam.

Project team, investors and partners of Moonbeam

Moonbeam project team

Moonbeam was founded by Derek Yoo, CEO of PureStake - a platform that provides a secure and reliable public blockchain infrastructure for developers of applications and projects based on blockchain technology.

Stefan Mehlhorn serves as chief operating officer of both Moonbeam and PureStake. Previously, Stefan Mehlhorn worked for Samsung Pay, Candibell Inc., LoopPay, Permessa, Thinking Phone Network…

Katie Butler and Nate Hamilton are the two heads of marketing and business development teams at Moonbeam Network.

Partners & projects deployed on Moonbeam

With the outstanding features that Moonbeam brings, it has attracted many partners and more than 100 projects deployed on this platform. Among them are famous names in the industry such as: Ocean, Chainlink, Sushiswap, Band Protocol, Polkastarter, Biconomy, Razor, Covalent...

Partners & projects deployed on Moonbeam

Investors

After 2 rounds of funding, Moonbeam has raised more than $7.4 million, specifically:

Seed Round : Moonbeam has raised $1.4 million from major funds such as Hypersphere, Arrington XRP, Hashkey, KR1, Du Capital, and Bitcoin.com Exchange.

Strategic Round : Moonbeam raised US$6 million led by CoinFund. Also included in the round were funds such as Coinbase Venture, ParaFi, Fenbushi Capital, IOSG Ventures, Divergence Ventures, Signum Capital, and several investors from the Seed Round.

Moonbeam's development roadmap

September 2021 : Moonbeam launches test version (Testnet). During this time, Moonbeam has gradually improved and upgraded its features.

June 2021 : Moonriver, a version for testing new features before updating on Moonbeam, officially becomes Parachain on Kusama. 

End of 2021 : Moonbeam will participate in the Parachain auction on Polkadot and is expected to launch the Mainnet.

Moonbeam Token Overview

What are GLMR & MOVR used for?

GLMR is the governance token (Governance) of Moonbeam Network deployed on Polkadot . Project developers will use GLMR to pay fees when deploying smart contracts and transaction fees on Moonbeam. In addition, this token holder has the right to participate in the system administration process as well as they can contribute ideas to help developers build the Moonbeam network.

MOVR is Moonriver's Utility Token deployed on Kusama. The role of the MOVR token is similar to that of GLMR.

Some basic information about GLMR

• Token Name: Glimmer
• Ticker: GLMR
• Blockchain: Polkadot
• Genesis Token Supply: 1,000,000,000 GLMR
• Annual Inflation Rate: 5%

Of the 5% inflation, 1% will be used to incentivize Moonbeam Collators and 1.5% will go to the Parachain Bond reserve fund to pay the cost of renting a Parachain slot. The remaining 2.5% will go to those who have staked their GLMR tokens to support the Collator selection process.

Distribution of GLMR . tokens

• Seed Funding: 14%
• Strategic Funding: 12%
• “Take Flight” Community Event: 10%
• 2021 Moonbeam Crowdloan: 10%
• Parachain Bond Funding: 5%
• Parachain Bond Reserve: 0.5%
• Treasury: 0.5%.
• Long-Term Protocol & Ecosystem Development: 15%
• Liquidity Programs: 8%
• Developer Adoption Program: 4.5%
• Key Partners & Advisors: 4.5%
• PureStake Early Backers: 1.4%
• Founders and Early Employees: 10%
• Future Employee Incentives: 4.6%

Distribution of GLMR . tokens

GLMR . Token Allocation Schedule

GLMR tokens will be allocated to each of the groups listed above within 21 months from the time of token issuance. Specifically, the time to allocate GLMR tokens will be detailed in the figure below. 

GLMR . Token Allocation Schedule

Some basic information about MOVR

Basic information about the MOVR . token

• Token Name: Moonriver
• Ticker: MOVR
• Blockchain: Kusama
• Total Supply: 10,000,000 MOVR
• Circulating Supply: 2,149,345 MOVR

Distribution of MOVR tokens

• Parachain Crowdloan: 30%
• Community Initiatives and Parachain Slot Reserve: 40%
• Parachain Bond Reserve: 0.5%
• Treasury: 0.5%
• Long-Term Network Stewardship & Adoption: 24.5%
• Developer Adoption: 4.5%

Distribution of MOVR tokens

How to own Moonbeam tokens

Currently, the GLMR token is not listed on cryptocurrency exchanges. However, investors can join Moonbeam's Crowdloan to receive GLMR tokens, there will be 100,000,000 GLMR (10% of total supply) used as rewards for this event. Of which, 30% will be allocated to investors immediately after Moonbeam's EVM and transfer system is activated. The remaining GLMR tokens will be allocated linearly throughout the Parachain rental period (96 weeks).

For Moonriver's MOVR token, investors can buy on exchanges such as KuCoin, Gate.io, Kraken...

Which is the most secure Moonbeam storage wallet?

There are many wallets where you can store Moonbeam. However, the easiest and safest way to store Moonbeam is to store it on exchange wallets like Binance, Kucoin, Matcha or Gate.io. Because these are all reputable exchanges and have millions of people participating in transactions every day. Therefore, you can rest assured when storing GLMR coins here.

In addition, in the Moonbeam project network, there are electronic wallets MetaMask and MathWallet along with wallets that interact with the Ethereum network. You can choose one of the above wallets to store Moonbeam coin . These are all the best e-wallets on the market today, which can safely protect your GLMR number.

Should invest in the Moonbeam project or not?

Moonbeam is built on Polkadot and has a built-in EVM virtual machine system that allows Ethereum applications to be compatible on Moonbeam. In addition, the project is a Parachain of Polkadot. This makes it possible for Moonbeam to directly connect with other Parachains on Polkadot. With the outstanding features of Moonbeam, it has attracted more than 100 construction projects on this network. Along with the continuous development of decentralized finance ( DeFi ), the Moonbeam project promises to attract more project developers in the future.

Conclude

Thus, TraderH4 has just provided readers with some basic information about the Moonbeam project and the GLMR and MOVR token duo. The Moonbeam project acts as a bridge to help DeFi DApps built on Ethereum's network easily migrate to Polkadot. Therefore, Moonbeam is considered by investors as an important project in the Polkadot ecosystem.

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