What is Moonbeam (GLMR)?

Moonbeam – GLMR

Polkadot + Ethereum = Moonbeam Network

This is a Project Review on GLMR.






What is Moonbeam – GLMR?

Moonbeam was founded by DerekYoo in January 2020. The network was built and powered by PureStakeco which is an Infrastructure-as-a-Service (IaaS) platform that provides developers with a foundation for private or public blockchain projects.

As mentioned in our Polkadot article, Polkadot allows users/developers to create their own blockchains on the network, called ‘Parachains’, which are connected with Polkadot’s mainnet, the ‘Relay chain’.

What is a Parachain?

Parachains’ are Layer 1 blockchains that have unique state transition functions (STF) with individual tokens and governance. They will provide blocks to the validators on the Relay Chain, where each block will go through and complete multiple checks before it reaches the desired blockchain.

All Parachains are autonomous and form a web of networks that stay in sync, secure each other and feed into the ‘Relay Chain’.

There are currently over 100 connected Parachains.

Moonbeam was the first Parachain built on the Polkadot blockchain and can achieve cross-chain interoperability between the Polkadot and Ethereum networks.

How does Moonbeam Work?

Moonbeam is striving to become the core between Ethereum & Polkadot by:

Delegated Proof-of-Stake (DPoS)

The Moonbeam network runs on the DPoS consensus mechanism which is run by an active set of 82 Collators. Collators will earn 20% of the annual inflation as a reward for securing the network.

As we know, Moonbeam is decentralised and allows users who hold the $GLMR token to help secure the network by staking/delegating $GLMR tokens to a Collator, thus making them a Delegator of the Moonbeam Network.

It is also important to understand that only the top 300 Delegators of the $GLMR token within each Collator will receive Staking/Delegating rewards. A minimum of 50 $GLMR is required to stake, however, it may not be enough to earn rewards from the Collator.

EVM Compatibility

Moonbeam allows developers to move/migrate DApps without the need of rewriting code. Users can connect to the Moonbeam network using EVM-compatible wallets and interact with DApps on any compatible application.

Substrate Compatibility

As Moonbeam is a Parachain of Polkadot, any of the wallets, explorers or DApps connectable to Moonbeam can also benefit from the interoperability between networks.

Cross-Chain & Bridges

Users can bridge tokens from other networks using protocols with cross-chain interoperability such as MultiChain, Synapse and more.

Moonbeam aims to bring more utilities to the network, you can check the roadmap out on the website for more info!


Merging the powers of both Polkadot and Ethereum could lead to mass global adoption. However, it can’t be done without Moonbeam. Interoperability is key.

There are many protocols that have been built or integrated over to the Moonbeam network. Here is a list of reputable protocols:

  • Chainlink
  • Injective Protocol
  • Sushiswap
  • Band Protocol

Polkadot and Ethereum interoperability is non-existent without Moonbeam and that’s why we are seeing an increase in Moonbuilders.


Moonbeam has an evergrowing ecosystem, with protocols that provide smooth, easy and rewarding products. Here are some great protocols within the ecosystem:

The network has a TVL of over $66.78M and has over 159 projects connected on the network, ranging from the largest wallets like Metamask, NFT Marketplaces like NFTrade and many more popular DApps.

The power source of the entire Moonbeam ecosystem that spans further than this list is the $GLMR token.

$GLMR Token

The Glimmer token ($GLMR) is the native token on the Moonbeam network which is used for:

Transaction Fees

The $GLMR token is used for paying any transaction fees that may occur on the network. When $GLMR tokens are used for transactions, 80% of the transactional fees are burned and 20% are provided to the on-chain Moonbeam treasury.


Moonbeam uses a staking-based governance system which is used by ‘Stakers’ to vote upon future proposals of the network.


Running a node requires $GLMR and plenty of disk space on your desktop. Nodes help to secure the network, but there are also other ways to secure the network and earn rewards.

How To Buy $GLMR

If you’re looking to buy $GLMR, it is one of the easiest tokens to obtain. $GLMR is available on the most popular centralised exchanges as well as certain blockchains.

We have broken down the two ways of buying the $GLMR token:

Option 1- Centralised Exchange

The $GLMR token is currently available on over 15 different centralised exchanges.

Here are some Centralised Exchanges we recommend for you to buy or trade the $GLMR token:

It is always recommended not to store your crypto on a centralised exchange due to the various risks it may hold. That is why we recommend option 2.

Option 2 – DeFi Wallet & Decentralised Exchange

To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):

If you are buying $GLMR through your DeFi wallet, you will need to have your wallet set up and you must add the Moonbeam network to your EVM-compatible wallet (Youtube Tutorial Below).

$GLMR is also an IBC-enabled token and you can swap it using the Osmosis DEX which is home to the Cosmos Ecosystem.

If you haven’t set up a DeFi wallet or don’t know how to use the Moonbeam network or Cosmos Network, you can check out our tutorial videos here:

Remember it is always recommended to use a Defi wallet or better yet a hardware wallet like Trezor to store your cryptocurrencies.


In another article, we will go through the Moonriver network ($MOVR), which is Moonbeam’s Kusama deployment.

The $MOVR token reflects the same token utilities as the $GLMR token. Moonriver just happens to be on the Kusama network as a ‘CanaryNet’.

Together, the Moonbeam & Moonriver networks have over 266 projects, and 677,996 total accounts, with a combined TVL of $133.08M!

At the time of writing, there are currently over 200K holders of the $GLMR token which is hovering at $0.4841 with a market cap of $192M. Moonbeam is 98.39% down from its all-time high of $29.84. $GLMR has also seen an incredible market cap of over $1.21B!


Moonbeam Twitter – @MoonbeamNetwork

Moonbeam Website – https://moonbeam.network/

Polkadot Twitter – @Polkadot




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