What is Moonbeam (GLMR)

Moonbeam or GLMR Coin (GLMR/USDT – Trade it here) is a Polkadot parachain designed for developers. It allows developers to port their projects with minimal to no code changes, enabling them to tap into the Polkadot ecosystem and all its assets. This article explores project core features and overall tokenomics of Moonbeam coins plus buy GLMR or earn it on MEXC. Basic information for their token is available on the MEXC Digital asset introduction page.

What is Moonbeam GLMR
What is Moonbeam (GLMR)

Being more than just an EVM implementation, Moonbeam is a highly specialized Layer 1 chain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.

Currently, Moonbeam has the following configurations:

  • Runs as a parachain connected to the Polkadot relay chain
  • Has an active set of 64 collators
  • Has infrastructure providers that provide API endpoints to connect to the network. Projects can also run their own node to have access to their own private endpoints

Moonbeam Core Features

Moonbeam achieves these goals with the following key features:

  • Decentralized and Permissionless

Providing a base requirement for censorship resistance and support for many existing and future DApp use cases.

  • Contains a Full EVM Implementation

Enabling Solidity-based smart contracts to be migrated with minimal change and with expected execution results.

  • Implements the Web3 RPC API

Existing DApp front-ends can migrate with the minimal change required. Additionally, existing Ethereum-based tools, such as Truffle, Remix, and MetaMask, can be used without modification against Moonbeam.

  • Compatible with the Substrate Ecosystem Toolset

Including block explorers, front-end development libraries, and wallets, allowing developers and users to use the right tool for what they are trying to accomplish.

  • Native Cross-Chain Integration

Integration via the Polkadot network and via token bridges. This allows for token movement, state visibility, and message passing with Ethereum and other chains.

  • On-Chain Governance

Allowing stakeholders to quickly and forklessly evolve the base protocol according to developer and community needs.

Moonbeam Ecosystem

Dozens of DeFi projects are choosing to deploy on the Moonbeam smart contract platform as an easy way to reach users and assets in the Polkadot ecosystem.

The features of the ecosystem are:

  • Access to Native Polkadot Assets

Interact with native Polkadot-based assets such as XC-20s on Moonbeam.

  • Ethereum Compatibility

Expand to reach new users and markets on Polkadot with no need to rewrite or reconfigure smart contracts.

  • Extensive Ecosystem of Integrations

Moonbeam is compatible with a broad portfolio of Ethereum wallets, developer tools, and other integrations.

  • Cross-Chain Capable

Use DApps with deeper connections to Polkadot and specialized parachains that are enabled by XCM.

GLMR Tokenomics

GLMR is the native asset of Moonbeam. This token is central to the design of Moonbeam and cannot be removed without sacrificing essential functionality. The Moonbeam token uses include supporting the gas metering of smart contract execution. It also Incentivizes collators and powers the mechanics around the creation of a decentralized node infrastructure on which the platform can run. Furthermore, it facilitates the on-chain governance mechanism, including proposing referenda, electing council members, voting, etc. Users can also use the tokens to pay for network transaction fees

Recent Price & Performance of Moonbeam (GLMR)

Currently, their market price is $0.3451 per unit. It has a market cap of $166,662,909 and a fully diluted market cap of $361,036,138. It also has a 24-hour trading volume of $2,214,667. You can check the live price of their token right here!

How to buy Moonbeam (GLMR)

You can buy Moonbeam (GLMR) on MEXC by following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “GLMR” using the search bar to see the available trading pairs. Take GLMR/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of GLMR you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy GLMR] to confirm your order. You will find the purchased GLMR in your Spot Wallet.

You can find a detailed guide on how to buy GLMR token here.

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