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Moonbeam Foundation announced more details about Moonbeam Take Flight, a Community Token Event

Moonbeam Network has just announced an upcoming ICO – Moonbeam Take Flight Event. This is a Community Token Event for the Moonbeam community, an opportunity for members to receive Glimmer (GLMR) – Moonbeam Network’s utility token. Let’s learn about Glimmer (GLMR) and essential information about this token issuance.

What is Glimmer (GLMR)?

Glimmer (GLMR) is the utility token of Moonbeam Network, Moonbeam’s primary deployment on the Polkadot network that serves as a developer-friendly parachain. Accordingly, GLMR is used to:

  • Supporting the gas metering of smart contract execution
  • Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
  • Facilitating the on-chain governance mechanism, including proposing referenda, electing council members, voting, etc
  • Paying for transaction fees on the network

For your information, Take Flight is a community-exclusive event and will consist of three sequential rounds over a period of days. This is the event created to honor Moonbeam community members by selling GLMR at an affordable price and opening an utterly fair opportunity for everyone.

Highlights of Moonbeam Take Flight

  • Tokens allocated: 80,000,000 GLMR (8% of the initial, redenominated supply)
  • Start date: September 7, 2021, at 3:00 pm UTC
  • Price: To be announced later (will be the same across all three rounds)
  • Duration: Three sequential phases
  • Lockup: 40 days from GLMR network launch (balance transfers & EVM enabled), no vesting
  • Tokens accepted: USDT, USDC, ETH, BTC
  • Qualification: Users must meet the requirements of Moonbeam Network, citizens of the United States, Canada and China, and some other countries are not allowed to participate (see more information here)
  • Location: a link to the Take Flight event will be sent to whitelisted participants.

As mentioned, the Take Flight event will have 3 phases:

Moonbeam Take Flight is a Token Event created to honor Moonbeam community members by selling GLMR at an affordable price and opening an utterly fair opportunity for everyone.

  • Phase 1: Community Early Access – Guaranteed allocation (Moonriver Crowdloan Participants, Ambassadors & Senior Ambassadors, Moonbeam PolkaPet Holders, Other Key Project Supporters)
  • Phase 2: Community General – First Come, First Serve (Round One Participants, Telegram Channel Members, Discord Server Members, Additional Key Community Members)
  • Phase 3: Future Community – First Come, First Serve (This round will be updated based on demand, and details will be finalized closer to the event start date)

To make this event as fair as possible, the Moonbeam Foundation has added the following information:

  • No Whales: There is a low threshold for the maximum contribution so that significant funds cannot swoop in and take a considerable allocation
  • Low Minimums: The minimum contribution is relatively low so that many community members with different contributing abilities can participate in the event
  • Sequential, Staggered Rounds: The three whitelist rounds are separated to help ensure that many community members have a fair opportunity to participate

Users can refer to the requirements here to see if they are eligible to participate in the event. And if eligible to participate, your email address must be on the Moonbeam Foundation whitelist.

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