In Brief:
- Moonbeam has won the second Parachain auction with a contribution of more than 35M DOT.
- 200,000 contributors had supported the crowdloan adding more than 35 million DOT (approximately $1.4 billion USD).
- Moonbeam Foundation has increased the crowdloan reward pool by 50% to 150M GLMR
After Acala won the first Parachain auction, it is Moonbeam that has won the second Parachain auction with a contribution of more than 35M DOT.
In a “beaming” tweet, Moonbeam announced its winning in the second parachain auction on Polkadot. Thanking its 200,000 contributors for the feat, it added that more than 35 million DOT (approximately $1.4 billion USD) was contributed from all around the world.
Thus, the average contribution accounts to 170 DOT per participant (approximately).
It is worth noticing that at the close of the second auction, a massive 95 million DOT (approximately $3.8 billion USD) has been locked in crowd-loans for parachain projects across the ecosystem.
This, in itself is a telltale sign as Polkadot launches parachains, including smart contract functionality, for the first time.
Appreciating the contribution from the vast support, the Moonbeam Foundation has added 50 million GLMR tokens to the crowd-loan reward pool. The total rewards thus, becomes 150M, or 15% of the genesis token supply, and increases the rewards payout by 50% for all participants, no matter what method was used to participate.
Moonbeam has shared its further plans saying that the billion dollars’ worth of DOT will remain locked for the duration of the parachain lease, which will last 96 weeks starting December 17, 2021. And so, as soon as the lease is complete, the Moonbeam team will not have access to these funds and they will be eventually returned to the contributors.
Moonbean has also informed that 30% will be distributed automatically at full launch (once balance transfers and the EVM are enabled) while the remaining 70% will be claimable as it vests.
The Network is estimated to be fully launched in January 2022.
Interestingly, just last week, Moonbeam had gathered over $1.36 billion, from its community counting upto 46,000 in the first Parachain auction but lost to Acala as Acala was in the lead for most of the time.
