Moonbeam, the cross-chain smart contract platform of the Polkadot (DOT) ecosystem, has recently launched a reward campaign for early bird delegators. This campaign offers exclusive “I Delegated” non-fungible tokens (NFTs) to the first generation of delegators who allocated their GLMR tokens before September 22, 2023.
The Moonbeam (GLMR) team aims to reward their most active customers and community enthusiasts through an airdrop. This initiative is intended to incentivize participation in future rounds of delegation. Holders of the GLMR token who allocated them to a delegator before the deadline are eligible to receive the exclusive NFTs.
As of now, there are 135 entities acting as delegates, according to Moonbeam’s official delegation portal. The largest of these entities has allocated almost 210,000 GLMR tokens and holds 1.8% of the voting weight. The majority of delegators joined the ecosystem between July and August 2023, with several influential communities of delegates participating.
Moonbeam Network (GLMR) made headlines in May 2023 when it allowed the largest Ethereum DEX, Uniswap (UNI), to land on the Polkadot (DOT) ecosystem. This move further enhanced Moonbeam’s role as a versatile smart contract environment and opened up more possibilities for developers and users.
However, despite the announcement of delegation and the positive developments surrounding Moonbeam, the GLMR token’s price has experienced a decline. Since the delegation announcements, the price of GLMR has dropped by almost 13%, reaching a local low at $0.162. This price decrease reflects a 98.9% decrease compared to its all-time high. Similarly, Moonriver, Moonbeam’s “sister chain,” has seen its MOVR asset decline by 99.2%, according to CoinMarketCap data.
Despite the price fluctuations, Moonbeam’s focus remains on building a strong and vibrant ecosystem. The rewards campaign for early bird delegators demonstrates their commitment to encouraging active participation and recognizing the contributions of the community.
As Moonbeam continues to attract attention within the Polkadot ecosystem, it will be interesting to see how these reward campaigns and its cross-chain capabilities contribute to the growth and adoption of the platform. With additional developments and partnerships in the pipeline, Moonbeam’s aim to become a leading smart contract platform appears promising.
