# Moonbeam Network

> Moonbeam is a smart contract parachain on the Polkadot network. Moonbeam provides an Ethereum-compatible smart chain platform...

- Canonical URL: https://iq.wiki/wiki/moonbeam-network
- Categories: Cryptoassets
- Created: 2022-08-23T08:55:49.469Z
- Last updated: 2026-07-28T11:29:06.414Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**Moonbeam** is an [Ethereum](https://iq.wiki/wiki/ethereum)-compatible [smart contract](https://iq.wiki/wiki/smart-contract) parachain built on the [Polkadot](https://iq.wiki/wiki/polkadot) network, designed to enable interoperable decentralized applications. 

In July 2026, the Moonbeam network announced that it would shut down, with network operations scheduled to end on July 31, 2026. [\[1\]](#cite-id-sxdi7ty0t7e)​[\[2\]](#cite-id-dpehs5u497w)​

## Features

* Smart contracts that work natively with other Polkadot chains or connect to external chains, like Ethereum and [Bitcoin](https://iq.wiki/wiki/bitcoin), via bridges.
* Web3 and EVM support that makes it easy for existing Ethereum [DApps](https://iq.wiki/wiki/decentralized-application-dapp) and smart contract backends to migrate to Moonbeam and Polkadot.
* Compatibility with Ethereum development tools such as Truffle and [MetaMask](https://iq.wiki/wiki/metamask)

Dieter Fishbein, Head of Ecosystem Development at Web3 Foundation stated:

> "Moonbeam’s approach promises to democratize the world of smart contract platforms in a way we haven’t seen before."

> "Platforms that make it easier for developers to leverage the work they have across networks is core to Polkadot’s future and to the success of decentralized technologies as a whole."

### Moonriver Network

Moonriver Network is a companion network to Moonbeam and provides a permanently incentivized canary network. The newly created code will be tested and verified on Moonriver before deploying to Moonbeam on Polkadot Network.[\[4\]](#cite-id-qbvosqq50ta)​

## Tokenomics

### Glimmer (GLMR)

Moonbeam network has its native token Glimmer and it is denoted by ticker symbol GLMR. 

## Funding

The Moonbeam team received a grant from the Web3 Foundation in August 2020 for their work developing a Web3-compatible RPC library.[\[3\]](#cite-id-vkx6ugsi1qq)​

In September 2020, Moonbeam Network closed a $1.4 million seed round which was led by Hypershpere Ventures. Other notable investors included Arrington XRP Capital, HashKey, KR1, Bitcoin.com Exchange, and Du Capital.[\[3\]](#cite-id-vkx6ugsi1qq)​

The funding will be used to accelerate development of the Moonbeam network.[\[3\]](#cite-id-vkx6ugsi1qq)​

Robert Habermeier, Co-Founder of the Polkadot Network and Partner at Hypersphere Ventures stated:

> "Polkadot was designed to enable the creation of many blockchains, each one specialized and optimized for specific purposes."

### Crowdloan

In June 2021, The Moonbeam team launched Moonriver Crowdloan program. A crowdloan is a way for new projects to get financial support they need to connect to the Kusama Network or Polkadot Network as a parachain. The crowdloan ended on June 29, 2021 with Moonriver winning 2nd slot Kusama (cryptocurrency)'s parachain auction.[\[7\]](#cite-id-s6mek46yo7)​[\[8\]](#cite-id-yoh7mkqhc5n)​[\[9\]](#cite-id-a1hrod48u3r)​

## Integrations

#### Polkamarkets

On May 12, 2021, The team announced to integrate Polkamarket, an Autonomous Prediction Market Protocol built on Polkadot. This integration will accelerate the migration of Polkamarkets’ prediction market technology onto Polkadot blockchain. With Moonbeam Network, the Polkamarkets’ team will be able to offer 'live prediction markets' in not only Cryptocurrency but also in ESports, sports, and many more with Polkadot-based value assets.[\[10\]](#cite-id-9nvobw28dr4)​

#### Automata Network

On June 28,2021, Moonbeam team announced integration with Automata Network. Automata Network is a decentralized service protocol that provides a privacy middleware layer for DApps across multiple blockchains. This integration will bring private, off-chain governance to Polkadot ecosystem and dApp builders will be able to use off-chain governance platform for gasless Ballot box with ballot voting with squared identity privacy.[\[11\]](#cite-id-yyecggd0tai)​[\[12\]](#cite-id-y2idibk2pbd)​

## Moonbeam Network Announces Shutdown & Asset Migration Deadline

In July 2026, the Moonbeam network announced that it would shut down on July 31, 2026, marking the end of network operations. Following the announcement, [Wormhole](https://iq.wiki/wiki/wormhole) notified users that all assets bridged to Moonbeam through its Portal bridge should be transferred out of the network before the shutdown date. [\[13\]](#cite-id-mrHlGfwdWdDbgbzX) 

According to Wormhole, users were required to complete the cross-chain migration of all external assets prior to July 31, 2026. After the network ceased operations, Portal and Wormhole contributors stated that they would no longer be able to assist users in recovering assets that remained on the Moonbeam network.

Wormhole clarified that the shutdown timeline, migration process, and associated deadlines were determined and managed by the Moonbeam team rather than by Wormhole. Users were advised to follow the migration instructions provided through Moonbeam’s official migration portal and to independently verify all transfer steps before initiating transactions. [\[13\]](#cite-id-mrHlGfwdWdDbgbzX) 

The announcement served as a reminder for users to complete asset migrations before the network’s closure, as failure to do so could result in permanently inaccessible bridged assets once support for the network ended. [\[13\]](#cite-id-mrHlGfwdWdDbgbzX) 

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