GLMR Transparency Commitment

Updated June 6, 2022

The Moonbeam Foundation (“Foundation”) is committed to the longevity, development, and security of the Moonbeam network. We recognize that transparency is core to the sustainable success of the network. As part of this commitment to transparency, we are providing the community the following information on the Foundation’s token holdings, the Foundation token actions to date and token supply.

Foundation Objectives & Statement of Use

The Moonbeam Foundation plans to use tokens under the Foundation control to help ensure the following three immediate strategic goals: (i) parachain sustainability, (ii) security and protocol development, and (iii) grants and ecosystem development.

(i) Parachain sustainability: the Foundation will use tokens from the “Parachain Bond Funding” and the “Parachain Bond Reserve” allocations to help ensure that Moonbeam maintains its parachain slot on the Polkadot network. Ultimately, the Moonbeam network needs to secure enough DOT to remain in a parachain slot in perpetuity. Multiple strategies will be employed by the Foundation to assist the Moonbeam network to achieve this DOT accumulation goal including, but not limited to, community tokens events to borrow DOT, deposits into and use of Moonbeam based defi protocols, liquidations of GLMR for DOT. The next parachain slot auction is scheduled for October 2023. The Foundation has not yet decided its strategy for the 2023 Polkadot auction (crowdloan, self-fund, etc), but will publish additional information on its parachain sustainability approach when available. Any liquidations of GLMR for DOT will conform to the Foundation’s structured selling guidelines below.

(ii) Security and protocol development: the Foundation will use tokens from “Long-Term Protocol & Ecosystem Development ” for a variety of initiatives that help ensure network security and that help drive the network’s long-term utility. These include using the Foundation’s token supply to support security audits, core protocol development, integration and testing of parachains and remote chains, infrastructure related test and integration environments, public RPC endpoint services, block explorers, developer support, education, and documentation. Currently, the Foundation selects teams to perform the majority of services listed above. The Foundation will continue to operate its Grant Program and welcomes teams that can provide these kinds of services to apply

(iii) Grants and ecosystem development: the Foundation will use tokens from the “Long-Term Protocol & Ecosystem Development” and the “Liquidity Programs” allocations to attract cutting-edge teams and builders to Moonbeam through cash or token grants, competitions, and programs. Selection for these initiatives will be based upon a myriad of factors including the team’s technical capabilities, their product innovation, and community engagement. The Foundation currently plans to give token grants from the Liquidity Programs allocation and fiat-based grants from the “Long-Term Protocol & Ecosystem Development” allocation.

In order to achieve these stated objectives:

  • The Foundation may re-balance Foundation-controlled accounts from time to time, creating new addresses or removing old addresses. Any update to account addresses will be reflected below in order to ensure transparency.
  • The Foundation may liquidate GLMR from time to time, when expenses cannot be paid in GLMR. A prime example would be liquidating GLMR in order to accumulate DOT for parachain sustainability purposes as described above. When undertaking these activities the Foundation will strictly adhere to the following Structured Selling Guidelines:
    • The seller only makes offers above market price, and doesn’t sell into bids.
    • Daily sales remain materially below a fixed amount set based on medium term volumes, and with the constraint of remaining below 5% of estimated real market volume on any given day.

Genesis Addresses Under Foundation Control

The Foundation has published below the addresses of the tokens held under Foundation control for the community to monitor.

0xec5849f7b9f7b5188e53e6546d07062b7d2b46a0
0xe15a2e4f35215a553151df283a39c7d17db8aaec
0xee050f48ff5ff71604d5ca32020a6ba1c070f1b2
0x3ad24a37d4b6ebd24e70a2c87241a63d92a6b288
0x835d6f7b649e109470f966a936308f78fdebec2d
0x02f50d4c3861c279aa0467caf49f8077b3c0ca60
0xce216241675657f40203679aa8f6472d8c140ab0
0xf1e35633ebbb793f1d22e6cc6b279afe8c33b381
0x906ea348769389c32f2732b79615d12b2514274e
0x91ad9c2608d04722400a22215d2d951dedb11cb4
0x6e87680133c34c96c86ffd101844b14fd63f0fe1
0xe51df5c29bfe022854fde7ebc4b06a6cdb94b60e
0x98091cad1243f4a6d2454a7f0ca3258fb053c152
0xb29f4d175953faf999869036bb170e4a99dba62c
0x0344cb6a7acb0f074237943e2ffb0bfce6e6c1fc
0xfb43cc3136a81d6df94b92637b007f0235b92563
0x418671c5e8e14095720bae1f063df18c6414239b
0xaab463ba7bf4eca75d5f84aabfb077dc9b9fbf0c
0xa99716fdf1a1e45969cc5469f3fadec7c3b4666f
0x72990280c6e37995f5a7446d7d420eb7bcd8ffa8
0xc6956173029911a93483e00ec4c5378f1aaf37f1
0xd0ae4f927db4d4adf162336f4f088b02f24f7e09
0x3628e309c5b745eb35f92bcf81fc6f9794e0f15c
0xa9349a0191c93534f8b9ca295ebf2b8a87c89062
0x6f39cba057acb67df748efce6d14b94c53b16574
0x41f666ac944a4613df26d00a5d3926e64574a6be
0xef24bcef8052cf5f2758ea23ed02d48c0f788bd5
0xd985dd9453bb9bae5f2bcb79f90b3ed724033ca0
0x47b69aef78183b282c6dfad76eecfcd0676a85f3
0xb00af4494099bf419c79768cc3d2e1f45a106b54
0x7882fc72720e2bd786dc1e2dda3b37f76ef7ac1a
0x2afbdaeed55af511d2f4f54048db5347993c41d1
0xb49e71e2516084f4697e21b7f2ebeddbfc900887
0xe5a56b7ff1aa39376588968e057f73ba9dc43ac1
0xb843fa0c53382a24386c4bfd6e26156b6c1aa502
0x286c93de3767bdc37694ff5326a2ec074a271841
0x4599d3fb61afbe53ec0c74e9d3e662df14c011bc
0x18cb64d0d2b5cecb7d0f08e4bec9c955f3a221ed
0xeee7f269e04163dea8f9c8c075429e0b9928a6f8
0xbfa14eb753e03ec28f1fca98e60227f1e3631451
0x471ac074b60dab1ce62eec90b766a7e3da5719bf
0x85b46641d2f1c1c207d50c1d0e04f8e57c8cf2f8
0x7f8d1c2b3d770693a4c0ebc02731dc3107bca672
0x670762abc78c65aee1274bc2ed179da7b8bd3b81
0x7f1ba0b92943a38a55ea344676f5685afbfe5ad5
0xac6d13f8b148acfc5fca4d4d6b4eaa5a78c6079c
0x365cb79b68552a44ecce2cfc698de5edfaf452c0
0x93041c0aa0b6e96c4e5f98831c58673f2e318274
0x0a2f88f2c8ec33ab7d5118a09b09eef844e3be72
0x49700fb3ddb67d7f7e366261fcbdfac0b90f6f5a
0xb2e3e0b8cecfbd8b4f3dc1849ddf3c79c21300bd
0x5a97a6f687d7c76d3ea7563a60cc615c6c939d54
0xcb95c0e6fcce0e78f62f7f809ab5ec161722fa17
0x97292e7fb192323faa3490fb084c1a450278206c
0x9c2284cbbeaacf3fae4aea80ad5d690f4c40fec6
0x734bbb2d0b28b36fac6de190978a54f294199f98
0xf1d1587678f6eb30b7c7a9773268b952a4b3e29f
0x0af55f1f6daf6efa8ebec64965120fd4053b1017
0xa5577da5f45aa886ce77f46e93a52802dba556f9
0x8ebb465d98e7589855485cd190c7bed6a36c4c34
0xfc02d8861d624d89e1c4c364a5d534aed0e75b45
0x10a75c8b30543dae7ff2ed6704c1bf769b3376b5
0x0dfd2741fa7f5e6a22b1c7fb13c3554550ecc9d5
0x02a28a296dfc6be50199e6a877b0b981055da8e7
0x5489fd1637f76c6f11198a06a1dc05a7f1f7e629
0xbc9429cbfa409ebfa9ba218f2c02eeda1e4a5203
0xd749a1c1a2b538609c722872637ac23bb4df6514
0xeace0fb4d9051d5c1d006a6953caa7e7ca140481
0xa4d9ac2893f430ad101d9691d9587be24f30aed9
0xda5531c9329426F4f3d4051291D98947F219ae20

Protocol Controlled Addresses

These addresses contain tokens which are distributed by the protocol.

Crowdloan Pallet Funds:
0x6d6F646C43726f77646C6f610000000000000000

Treasury:
0x6d6f646C70792f74727372790000000000000000

State of Supply

Circulating Supply at Launch: Approx. 7% of the total supply was circulating at launch, including Moonbeam Crowdloan rewards and tokens distributed for broader long-term network adoption.

Glossary:

  • Circulating Supply: all tokens that are held in accounts outside of the Moonbeam Foundation and Protocol control listed above.
  • Total Supply: the number of tokens that are (i) circulating, (ii) under the Moonbeam Foundation control, (iii) under the Protocol Control

Estimated Token Release Schedule

GLMR Estimated Token Release Schedule January 2022

  1. Token release schedules are approximate and subject to change. Please refer to https://moonbeam.foundation/glimmer-token/ for information on token allocations and please see the information below for the token release assumptions .
  2. Token allocations that are not subject to vesting schedules have been excluded from the Estimated Token Release Schedule–these allocations are “Long-term Protocol & Ecosystem Development”, “Liquidity Incentives”, “Parachain Bond Funding”, “Parachain Bond Reserve”, and “Treasury”. To date, the Foundation has released approximately 26M GLMR from “Long-term Protocol and Ecosystem Development” to cover network operations, expenses and liquidity.

Estimated Token Release Schedule: Assumptions and Details

  • Developer Adoption Program: For simplicity purposes, we have evenly distributed the release of these tokens over 24 months and assumed that all grant recipients deliver promised milestones by the start of vesting.
  • PureStake Early Backers: Projected token release follows the defined 24-month vesting schedule with distributions subject to an initial 7-month lock-up and equal vesting in months 7-24.
  • Crowdloan 2021: 150M GLMR was allocated to the Moonbeam 2021 Crowdloan, of which 30% was distributed at network launch (when transfers and EVM were enabled) and the remaining 70% vests linearly over the 96 weeks of the parachain lease.
  • Seed Funding Terms: Projected token release follows the defined 24-month vesting schedule with distributions subject to an initial 3-month lock-up and equal vesting in months 3-24.
  • Strategic Vesting Terms: Projected token release follows the defined 12-month vesting schedule with distributions subject to an initial 2-month lock-up and equal vesting in months 2-12.
  • Advisor Vesting Terms: Projected token release follows the defined 24-month vesting schedule with distributions subject to an initial 7-month lock-up and equal vesting in months 7-24.
    Future Employee Incentive Plan: The estimated token release assumes full allocation of the fund (67.39% allocated at launch). Future allocations are subject to a 4-year vesting schedule from network launch or grant date (whichever is later) with a 1-year cliff and monthly vesting thereafter.
  • Founders and Early Employees: Distributions are subject to a 4-year vesting schedule from network launch with a 1-month cliff and monthly vesting thereafter.
  • Take Flight: The Take Flight token event completed in September 2021 with 98.2M GLMR purchased by community members, representing nearly 10% of genesis supply. Distributions are subject to a 40-day lock from network launch with no vesting schedule.

Disclaimer

The information contained herein pertaining to Moonbeam Foundation (“Moonbeam” or the “Company”), its business assets, strategy and operations is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained herein should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. The information herein does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Moonbeam and its agents, advisors, directors, officers, employees and members make no representation or warranties, expressed or implied, as to the accuracy of such information and Moonbeam expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Moonbeam reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained herein is intended only for the persons to whom it is transmitted for the purposes of evaluating the Company. The information contained herein supersedes any prior information or conversation concerning the Company. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information contained herein by you or any of your representatives or for omissions from the information herein. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed herein.