What is Moonbeam (GLMR)?
Moonbeam is a Layer 1 blockchain on the Polkadot parachain, providing cross-chain-connected applications that unite functionality between Ethereum, Cosmos, Polkadot, and more. Moonbeam's full Ethereum implementation in Substrate provides the core smart contract functionality, while cross-chain messaging allows developers to create smart contracts that access services across many remote blockchains.
GLMR is an ERC-20 token that serves as the native currency of the Moonbeam network. Its primary utility is to pay for transaction fees on the network. Additionally, GLMR can be staked to participate in network governance and earn rewards.
The total supply of GLMR tokens is capped at 1,000,000,000 GLMR. Out of this, 30% was allocated for sale during the token sale, and 20% was allocated for the team and advisors. The remaining 50% was allocated to the network ecosystem and community.
- 30% was allocated for sale during the token sale: This was the initial allocation of GLMR tokens that were sold to the public during the token sale event. The proceeds from the sale were used to fund the development of the Moonbeam network.
- 20% was allocated for the team and advisors: This allocation is for the Moonbeam team and advisors who have contributed to the development of the network. The tokens are vested over time to ensure alignment with the project's long-term goals.
- 50% was allocated for the network ecosystem and community: This is the largest allocation of GLMR tokens and is intended to support the growth and development of the Moonbeam network. The tokens are used for ecosystem development, marketing, partnerships, and community incentives.
All in all
SwissBorg's partnership with Moonbeam will enable SwissBorg app users to access a wide range of offerings from the Moonbeam network, including new yield opportunities and access to a new ecosystem. The Moonbeam community will be able to access our fiat gateway and enjoy the products and perks of the SwissBorg app and ecosystem.
By building partnerships with leading blockchain platforms like Moonbeam, SwissBorg is committed to providing app users with the best DeFi opportunities and ecosystems possible. We look forward to seeing the positive impact this partnership will have on both companies and the broader blockchain community.