Moonbeam, the EVM-compatible smart contract platform has won the second parachain auction on Polkadot. The announcement came on Thursday, November 25 as Moonbeam said that more than 200K contributors worldwide contributed a total of 35 million in DOT tokens worth a staggering $1.4 billion. The announcement said:
Moonbeam has set a new precedent for crowdloans, receiving the largest total contribution from the most contributors by far. Over 200,000 participants contributed DOT to the crowdloan across all sources including the Moonbeam Foundation DApp, supporting exchanges, wallets, and liquid staking providers. The average contribution was approximately 170 DOT per participant, indicative of the broad participation from Moonbeam’s global community.
At the close of the second auction, more than 95 million DOT worth $3.8 billion USD has been locked in crowdloans for parachains across the Polkadot ecosystem.
Moonbeam Found To Expand Reward Pool
Moonbeam thanked its community for helping them secure a two-year slot as a Polkadot parachain. As a result, the Moonbeam Foundation has decided to expand its reward pool.
As a result, Moonbeam has added an additional 50 million GLMR tokens to the crowdloan reward pool. Thus, the total rewards have surged to 150 million GLMR which is 15% of the total genesis supply.
Trending Stories
The good thing is that the rewards payout has also been increased by 50%. The Moonriver’s parachain lease will commence on December 17th and last for 96 weeks. The platform will launch in three different phases. The segmented launch has been designed to ensure the stability of the deployed network.
Polkadot (DOT) is one of the top-performing digital assets this year in 2021. Currently, it is one of the top ten cryptocurrencies in the market. The parachain auction will increase the usability of the Polkadot blockchain to a great extent. It will also improve the scalability of the network.
- Bitcoin Cash Sinks 7% As Its Biggest Advocate Is Accused Of Default
- Here’s Why Ethereum (ETH) Price Can Plunge More Ahead
- This Crypto Winter Suite Could Help Investors In Bear Market
- Terra USTC Price Skyrockets By 75%; Will It Recover More?
- Breaking: No VAT On Cryptocurrency Issuers In Russia, Details
- Just In: Robinhood Lists Chainlink (LINK); Price Up By 5%
- Just In: USDC Parent Inks Major Pact With New York Bank
- Here’s Why Dogecoin (DOGE), Shiba Inu (SHIB) Prices Tumbled
- This Is Why Ethereum (ETH) Recovered Sharply From Below $1K
- Top Binance Exec To Keep Buying Bitcoin, But There’s A Catch
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
- Stacks Price Analysis: Reversal Within Wedge Pattern Eyes $0.3 Support
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?
- Dogecoin Price Analysis: DOGE Winning Streak Aims to Reclaim $0.077
- Apecoin Price Analysis: Reversal Pattern Sets 21% Rise in APE Price
- Ethereum Price Analysis: Will ETH Relief Rally Revert From $1300?
- Bitcoin Price Analysis- Higher Price Rejection Hints BTC to Retest $20000
