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Take Flight Token Event is Finalized, Raises $24.5M for the Moonbeam Network

Sep 24, 2021

2 min read

The Moonbeam Foundation has finalized the Take Flight community token event, which took place from September 7th to 10th, 2021. The event was a way for the Moonbeam community to obtain Glimmer (GLMR) tokens in anticipation of the Moonbeam network launch.

The Moonbeam Foundation had initially allocated 80 million GLMR tokens for the event (8% of the initial supply). In light of the overwhelming support and demand from the community, this was increased by 20 million tokens to a total of 100 million tokens. The non-guaranteed rounds were sold out within two hours of opening.

Highlights of the event include:

  • $24.5M USD raised*
  • 98 million GLMR (9.8% of the initial supply) allocated to the community*
  • ~4,800 participants in Round One, ~3,400 in Round Two, and ~2,300 in Round Three
  • 74% of verified, whitelisted users were able to participate and get a token allocation

* Reflects total raised and total tokens sold after refunds and audit adjustments. The unallocated 2 million tokens will remain in the Parachain Bond Reserve.

Participants in the event can now see their finalized number of GLMR purchased by logging into the Take Flight websiteGo to page [object Object] and visiting their “Profile” and then “Past Transactions.” Countersigned TPAs are currently being generated and will be available in individual’s profile by Wednesday, September 29th, 2021. To locate your TPA, please go to “Profile”, “Past Transaction” and then “view TPA”.

GLMR Token Distribution

GLMR tokens will be sent to the Receiving Address specified by each participant 40 DAYS after the Moonbeam Network is fully live, which is defined as when balance transfers and the EVM are both enabled.

The Road to The Moonbeam Launch

The launch of the Moonbeam Network is dependent upon Parity’s announcement of Polkadot slot auctions, which will allow Moonbeam to connect as a parachain. Once those details are available, the Moonbeam team will be better able to provide details regarding launch timing.

This timeline may be subject to change.

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Other Ways to Get Involved

This event is not the only way for existing community members and soon-to-be community members to participate in the Moonbeam network. The Moonbeam Foundation will be running a crowdloan to help secure a parachain slot for Moonbeam on the Polkadot network. There will also be Liquidity Incentive Programs on both Moonriver and Moonbeam.

Read hereGo to page [object Object] for more information on our Liquidity Incentive Programs and the anticipated timeline for the Moonbeam crowdloan.