Moonbeam is an Ethereum compatible smart contract platform on Polkadot. Moonbeam’s unique Ethereum capabilities provide the easiest development environment and the richest set of developer integrations for Ethereum-based projects that want to expand to Polkadot.
What is Moonriver?
Moonriver is Moonbeam’s companion network. Built on Kusama, Moonriver is an incentivised canary network for Moonbeam where new code can be shipped, tested, and verified under real economic conditions. Once proven and tested on Moonriver, the same code from Moonriver on Kusama can be used on Moonriver on Polkadot.
Moonriver has officially secured a Kusama parachain slot, and is live on Kusama. Staking is now live on Moonriver as well! If you are interested in checking out our Moonriver staking guide, feel free to follow along here.
Moonbeam provides a simplified user experience for Ethereum developers as they begin to expand to Polkadot. Moonbeam provides both multi-chain teams, and Polkadot native teams interoperability between Ethereum and Polkadot.
When building on Moonbeam, developers have the ability to write smart contracts in Solidity anything that compiles to EVM bytecode. Along with this, if developers have existing smart contracts, they will work right away on Moonbeam with no need to rewrite or reconfigure.
On Moonbeam, EVM-based projects will be able to utilize the interoperability that Polkadot offers without having to rewrite, or adapt to a substrate-based system. Moonbeam also allows the ability to use existing tools and dApp frontends, connecting popular tools like MetaMask, Remix, Hardhat, Waffle, and Truffle through a complete set of Web 3 RPC endpoints.
Here’s how Moonbeam’s provides unmatched Ethereum compatibility:
- Minimal Codebase Changes: if you have an existing contract, it will work right away with no need to rewrite or reconfigure.
- Language Support: write smart contracts in Solidity or anything that compiles to EVM bytecode.
- Core Developer Integrations: 60+ integrations with the most-requested developer tools and services like APIs, assets, bridges, DeFi protocols, oracles, and many more.
- Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with Moonbeam.
The GLMR Token: Staking + Governance
On Moonbeam the native Glimmer (GLMR) token supports the network in a couple of different ways. To interact with Moonbeam, the Glimmer (GLMR) token is required and used for transaction fees on the network.
On top of this, the Glimmer (GLMR) token is used for staking, and on-chain governance including creating proposals, electing council members, voting, and more.
Moonbeam already has the most extensive list of projects and partners on the Polkadot ecosystem with deployments underway that look to expand Moonbeam’s capabilities. Check out the full list of projects and partners here.
There are over 60+ projects building on Moonbeam that can now deploy to Moonriver.
Moonbeam has integrated with the Graph to provide developers the ability to easily build and publish open APIs. Along with this, it gives developers easy access to data on Moonbeam and Polkadot. Moonbeam’s integration with The Graph opens up the ability to use subgraphs in a Polkadot-based environment.
The Graph has currently integrated with Moonbeam’s testnet, and for more information on how to use The Graph with Moonbeam, the following materials are available: creating subgraphs, becoming an Indexer, delegation guide, and curator program.
DODO, an on-chain decentralized exchange and liquidity provider, has integrated with Moonbeam. This integration will allow DODO to include assets from Polkadot and its parachains in their exchange. Through Moonbeam’s Ethereum-compatible smart contract platform, this integration with DODO is possible without making major changes to their existing code.
DODO has currently successfully deployed to Moonbeam’s testnet, and this integration will open up new DeFi opportunities on Moonbeam.
On top of data and DeFi integrations, Moonbeam has also integrated with myNFT to allow the use of Ethereum and Polkadot NFTs interchangeably. myNFT is a creative workshop, marketplace, and discovery tool positioned to become one of Polkadot’s major NFT platforms.
myNFT will give users on Moonbeam access to a bridge that will allow them to bring Ethereum-based NFT projects to Moonbeam and Polkadot. Once cross-chain messaging is enabled on Moonbeam, NFT creators and owners will be able to freely move and sell their digital assets across chains through the myNFT integration.
We are excited to share that Moonbeam is integrating with Figment through Hubble, a platform for validators and token holders to explore and interact with Web 3 protocols. Hubble offers users key information like validator uptime, commission, stake history, and more.
This integration with Hubble will bring Moonbeam and Moonriver to the Hubble dashboard, fostering a more intuitive staking experience for users. With this integration, users can now easily view staking opportunities, review performance data, and nominate collators. Moonbeam will be Hubble’s first parachain integration in the Polkadot ecosystem.
Moonbeam has integrated with Lido to bring liquid staking to Polkadot. Users will now be able to stake, and get liquidity for DOT on Moonbeam, and KSM on Moonriver. Lido is the largest liquid staking deritivites protocol, and is currently live on Ethereum and Terra. The Lido integration with Moonbeam was driven by MixBytes, who has been selected by theLido DAO to lead the technical integration for the Polkadot ecosystem.
This integration with Lido helps expand the DeFi ecosystem on Moonbeam, giving token holders a new way to use their assets in the Polkadot ecosystem.
Next Steps for Moonbeam
As of writing this, Moonriver has currently been live on Kusama for over three weeks. Moonbeam will follow the same steps as Moonriver’s with a 5-phase launch process, starting with securing a parachain slot on Polkadot through a crowdloan.
Currently, PureStake, the team behind Moonriver and Moonbeam is focused on making sure the Moonriver launch continues to go smoothly, while they begin to look ahead towards the Moonbeam launch. The PureStake team is now able to use any learnings from the previous Moonriver crowdloan, and carry them over to the Moonbeam crowdloan. Be sure to stay up to date on the Moonbeam crowdloan information here.