Moonbeam Network is now producing blocks on Polkadot, is expected to be fully launched by January 2022

The Moonbeam smart contract platform has officially begun its launch process to become a fully operational parachain on Polkadot, which produces blocks on the network.

Moonbeam is currently in block production on Polkadot

This initial phase, dubbed Phase 0, is the first in a multi-step process that will conclude when it becomes fully operational on Polkadot, scheduled for January 2022.

After completing the crowdfunding campaign, the project started the launch process with more than 35 million DOT (equivalent to $1.4 billion) contributed by more than 200,000 supporters worldwide. It can be said that it has the largest number of collaborators and the highest total DOT mobilized of any company.

Moonbeam’s three-phase launch is designed for the gradual rollout of functions to ensure the stability and safety of the network and is expected to take 3 to 4 weeks to complete.

It is known that 15% of the total GLMR supply was initially allocated as a reward from the community, representing 150 million GLMR. These tokens will be given to contributors from the community based on the amount of DOT they have sent to the campaign. Of those rewards, 30% will be distributed immediately after the transfer is activated (January 2022), and the remaining 70% will be distributed in 96 weeks (term of the parachain lease).

Individuals who have participated in the Take Flight event through the Moonbeam Foundation can wait 40 days from the network’s Full Launch (Phase 2) around February 2022.

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