Moonbeam’s smart contract platform has officially started its launch process to become a fully functional parachain on Polkadot that is now producing blocks on the network.

Production of moonbeam blocks on polkadot

This first phase, known as Phase 0, is the first in a multi-step process that will be completed when Moonbeam is fully operational for January 2022 on Polkadot.

The project started the start-up process after the successful completion of the crowdfunding campaign with more than 35 million DOT (equivalent to 1.4 billion USD) contributed by more than 200,000 supporters worldwide. It can be said that Moonbeam has the largest number of employees and has achieved the highest total DOT of all projects to date.

The three-phase rollout of Moonbeam is designed to gradually roll out features to ensure the stability and security of the network and is expected to take 3 to 4 weeks.

It is known that 15% of the total GLMR supply was originally allocated as a Community Award, which corresponds to 150 million GLMR. These tokens are awarded to community contributors based on the amount of DOT they have contributed to the crowdloan. Of this, 30% will be distributed immediately after activation of the transfer (January 2022) and the remaining 70% in 96 weeks (term of the Parachain lease).

Individuals who participated in the Take Flight event through the Moonbeam Foundation can wait 40 days from the full network launch (phase 2), around February 2022.

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