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The Moonbeam Crowdloan is Now Open

Nov 5, 2021

4 min read

The Moonbeam crowdloan is officially open and is accepting contributions from the community.

The crowdloan can currently be accessed through a DApp built by the Moonbeam Foundation. The list of participating exchanges and supported wallets will be updated continuously as additional support is available. For the most recent ways to access the crowdloan, please refer to the Moonbeam crowdloan page.

Here are some important details about the crowdloan:

  • Moonbeam Parachain ID: 2004
  • Contributions Open: November 5, 2021 at 12:00 UTC
  • Contributions Close: when a slot is won OR December 16, 2021, whichever comes first

The opening of the Moonbeam crowdloan is a thrilling moment for the Moonbeam and Polkadot journey. Moonbeam’s global community is able to come together to support the Moonbeam network via the highly anticipated parachain slot auction.

Moonbeam Crowdloan Rewards

The Moonbeam Foundation has allocated 10% of the Moonbeam network genesis tokens (100,000,000 GLMR) to reward Moonbeam crowdloan contributors. 30% of rewards will be distributed upon full launch of Moonbeam (EVM and transfers are enabled). The remaining 70% will be vested over the course of the lease (96 weeks) on a linear block-by-block basis. The amount of rewards earned will be proportional to the participant’s contribution to the crowdloan.

The Polkadot network is auctioning off the first five parachain slots, which bring smart contracts and other new functionality to the network. The Moonbeam crowdloan seeks to win one of these slots through the crowdloan, which allows contributors to temporarily lock DOT in order for Moonbeam to bid on and win a slot at auction. If Moonbeam wins a slot, it will begin producing blocks on ~December 17, 2021, with a gradual functionality rollout following this.

Supporters of the Moonbeam project will be able take part in Moonbeam’s historic auction win by contributing DOT, which will be locked on the Polkadot Relay Chain (the Moonbeam team has no access) during the crowdloan campaign and for the course of the lease (96 weeks). After the crowdloan ends and the parachain lease period is complete (assuming a slot is successfully obtained), the DOT will be officially unlocked and returned to the original contributor.

How To Participate Through the Moonbeam Crowdloan DApp

The Moonbeam Foundation has created an application for contributing to the crowdloan. This interface interacts directly with the crowdloan pallet built into Polkadot.

Participants must have unlocked, unbonded DOT in an address that is connected to the Polkadot.js extension. The DOT unbonding period is 28 days, so anyone who has not already unbonded will not be able to participate in the first few auctions. Read this walkthrough for detailed instructions on how to contribute to the Moonbeam crowdloan using the Moonbeam Crowdloan DApp.

If you are unfamiliar with Polkadot addresses, there is also a tutorial to show you how to create your first Polkadot account. You will also need a Moonbeam address (which is the same format as Ethereum addresses).

Other Ways to Participate in the Moonbeam Crowdloan

Currently the following exchanges and wallets have announced support for the Moonbeam crowdloan. Please refer to their websites for additional information and tutorials:

Any additional supporting exchanges, wallets and other integrations will be posted on the Moonbeam Crowdloan page.

Please Note: The Moonbeam Foundation is only able to answer support questions for the Moonbeam Crowdloan DApp. If you choose to contribute through a supporting wallet, exchange or other integration, you must contact those teams for support/help. Do your own research before trusting any party with your contributed DOT and your GLMR rewards.

Safety Note

During this time, make sure to be extremely vigilant and cautious of scams.

Direct crowdloan contributions through the Moonbeam Crowdloan DApp are made through a special contribution transaction using the Moonbeam crowdloan campaign index and not by transferring DOT to a specified address.

However, contributions through an exchange or through other supported integrations may follow a different process. Please do your own research and make sure you trust these parties with your DOT and GLMR rewards.

Contact the Moonbeam Foundation directly regarding concerns or scam reports:

Join the Moonbeam Network official Discord, Twitter, and Telegram channels for updates as well.