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Moonbeam Secures a New Parachain Slot Lease on Polkadot

Jun 8, 2023

2 min read

The Moonbeam Foundation has successfully secured a parachain slot for Moonbeam on Polkadot. Once the parachain is “swapped” to the new slot, the Moonbeam Network will be able to continue operation without interruption for another full lease period (approximately 96 weeks from today). The Moonbeam Foundation self-funded this newly leased slot, extending Moonbeam’s ability to produce blocks into June 2025.

Moonbeam is a leading parachain with the most project deployments and considerable cross-chain activity both within and outside of the Polkadot ecosystem. The Moonbeam Foundation looks forward to continuing to fund the development and growth of the chain as the Moonbeam community and contributors work to bring true interoperability to the ecosystem and beyond.

To ensure Moonbeam’s place as a Polkadot parachain, the Moonbeam Foundation bid on and won a slot in the 44th Polkadot parachain auction for the July 31, 2023 – June 5th, 2025 lease period.

Moonbeam completed its launch process in January 2022, becoming the first fully operational parachain on Polkadot. Since its record-breaking crowdloan, Moonbeam has seen the deployment of nearly 300 projects and continues to enjoy an extremely active developer ecosystem.

As a leader in interoperability, Moonbeam is connected to 12 other parachains within Polkadot and dozens of other external chains through message passing integrations with technologies like Axelar, Wormhole, LayerZero, Hyperlane, and more. Moonbeam is the entry point for remote chains like Ethereum and more to access the Polkadot ecosystem, bringing liquidity and new use cases to Polkadot and the parachains. Moonbeam is positioned as a “hub” where multi-chain projects can build their home-base, and deploy connected contracts to control “satellite” instances on other remote chains. From the Moonbeam-based “brain,” smart contracts can access and integrate the functionality of these remote blockchains, which alleviates the need for bridging, swapping, and wrapping assets when using them across chains.

Funds contributed to the Moonbeam crowdloan will continue to remain locked until the original lease period ends in October 2023.