Categories: Market

Moonbeam adds 50 million GLMR to the reward pool after winning the second Polkadot Parachain auction

Moonbeam, the Ethereum-compatible smart contract platform, has won the second Parachain auction on Polkadot with over 35 million DOTs valued at around $ 1.4 billion, according to a press release. notification the company.

After losing the first parachain auction to Acala, Moonbeam is now the winner of Polkadot’s latest parachain auction, collecting a record number of DOTs from supporters. Over 200,000 participants contributed over 35 million DOT at the end of the auction.

According to Moonbeam’s announcement, the average contribution is around 170 DOT per participant, indicating “broad involvement from Moonbeam’s global community”. Donations were received from a variety of sources including the Moonbeam Foundation dApp, stock market support, wallets, and liquidity stakeout service providers.

“This is a milestone for the Moonbeam community and the entire Polkadot ecosystem.

At the end of the second auction, more than 95 million DOT (3.8 billion US dollars) were tied up in the crowdloan for parachain projects throughout the ecosystem. This is a remarkable sign as Polkadot is launching Parachains for the first time, including smart contract features. ”

To repay the community that blocked tokens for two years in support of Polkadot Parachain, the Moonbeam Foundation has decided to expand its reward pool.

An additional 50 million GLMR tokens have been added to the Crowdloan reward pool, bringing the total reward to 150 million GLMR, or 15% of the original token offering. The reward has also been increased to 50%.

Moonriver’s parachain lease begins December 17th and lasts for 96 weeks. The platform will launch in three phases, following a more compact version of the previously launched Moonriver.

The launch plan is intended to ensure the stability of the provided network, which is expected to be fully operational by January 2022.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Cryptoslate

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

31 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.