Moonbeam, an EVM-compatible smart contract platform, has won Polkadot’s second parachain auction as over 200K donors globally contributed a total of 35 million DOT tokens worth a stunning $1.4 billion
Moonbeam wins Polkadot’s second Parachain Auction
Moonbeam, an EVM-compatible smart contract platform, has won Polkadot’s second parachain auction. Moonbeam made the news on Thursday, November 25th, stating that over 200K donors globally contributed a total of 35 million DOT tokens worth a stunning $1.4 billion. According to the announcement:
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.
More than 95 million DOT worth $3.8 billion USD had been locked in crowdloans for parachains across the Polkadot ecosystem at the end of the second auction.
Moonbeam Discovered To Increase Reward Pool
Moonbeam expressed gratitude to its community for assisting them in securing a two-year spot as a Polkadot parachain. As a result, the Moonbeam Foundation has chosen to increase the size of its award fund.
As a result, Moonbeam has increased the reward pool for crowdloans by 50 million GLMR tokens. As a result, the total incentives have risen to 150 million GLMR, or 15% of the overall genesis supply.
The good news is that the rewards payout has been increased by 50%. The parachain lease for the Moonriver will begin on December 17th and will last for 96 weeks. The platform will be launched in three stages. The segmented launch was created to maintain the network’s stability.
Polkadot (DOT) is one of the year’s best-performing digital assets in 2021. It is currently one of the top ten cryptocurrencies on the market. The parachain auction will greatly improve the usability of the Polkadot blockchain. It will also improve the network’s scalability.