Moonbeam ($GLMR)

Moonbeam $GLMR is a (Proof of Stake) fully Ethereum-compatible smart contract parachain connected to the Polkadot relay chain. It is 100% EVM compatible and you can copy-paste existing solidity smart contracts using common tools like Hardhat, Truffle, Remix, and other popular deployment tools. It is a sister network to Moonriver. Moonbeam allows developers to extend their application's reach to new users and assets on other chains. Polkadot is Moonbeam's relay chain allowing cross-chain integration for the Moonbeam network.

Polkadot → Kusama Moon Beam → Moonriver

💡

Moonbeam is built on Substrate for more information on substrate click here (Polkadot + Substrate)

EVM COMPATIBILITY

Being EVM compatible is huge for the Polkadot network, it allows for any Dapps built on the Etherum blockchain to be essentially copied and pasted over to Moonbeam.

By mirroring Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more, Moonbeam minimizes the changes required to run existing Solidity smart contracts on the network.

ROAD MAP

This is the most recent updated roadmap for MOVR & GLMR, from the website https://docs.moonbeam.network/learn/platform/roadmap/

TOKENOMICS

When the Moonbeam network launched, the total supply of Glimmer tokens was one billion. A portion of the network tokens was reserved to ensure the network maintains a parachain slot on the Polkadot network. Genesis Token Supply → 1,000,000,000

Total Circulating Supply → 200,568,382.00 (20%)

Annual Inflation Rate → 5% uncapped supply

Transaction Fees → 80% burned / 20% treasury

The $GLMR token functions just like any other layer 1 blockchain. The uses for the GLMR token are...

Supporting the gas metering of smart contract execution

Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run

Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc

Paying for transaction fees on the network

INTEROPERABLE

The Cross-Consensus Message (XCM) format defines how messages can be sent between interoperable blockchains. This opens the door to transfer messages and assets (Substrate assets) between Moonbeam/Moonriver and the relay chain or other parachains in the Polkadot/Kusama ecosystems. Substrate assets are natively interoperable. However, developers need to tap into the Substrate API to interact with them. To help developers tap into the interoperability that Polkadot/Kusama offers, Moonbeam introduced the concept of XC-20s. XC-20s open the door to cross-chain interactions between parachains. This is a new type of interoperable token that has an ERC-20 token interface. They are ERC-20 compatible, but also Substrate-native assets that build upon XCM (Cross Consensus Messaging). Kusama’s KSM representation on Moonriver is known as xcKSM.

Developers can integrate XC-20s with regular Ethereum development frameworks or dApps. It combines the power of Substrate assets (native interoperability) but allows users and developers to interact with them through a familiar ERC-20via a precompile contract (Ethereum API).

Developers: can make their project tokens cross-chain capable without modifying the existing ERC-20 format and integrate XC-20s with existing Ethereum development frameworks and DApps.

Users: can “deposit” tokens from elsewhere in the Kusama ecosystem, like KSM, to be used in Moonriver-based applications. This functionality has been added to the existing Moonriver DApp.

All assets created in the XC-20 format will be able to move to other Kusama parachains.

TEAM

The Moonbeam and Moonriver networks are built by PureStake https://www.purestake.com/. An Infrastructure-as-a-Service to crypto application and Validator Service for PoS Polkadot and Algorand. They're both being developed by the same team and foundation.

A few of the talented team. Link to view full team - https://moonbeam.network/team/

Derek Yoo - CEO & Founder: He used to work as a CTO and CPO at Fuse - A global cloud communications and collaboration software platform for enterprises, also a CEO of PureStake.

Stefan Mehlhorn - COO: Master degree in Computer Science. In the past, Stefan was a Head of Technology Operations at Samsung Pay

Alan Sapède - VP of Blockchain Engineer: Alan has two years experience in Software Engineer at Google