Moonbeam Launches Reward Campaign for Delegation Early Birds

Moonbeam launches a reward campaign for early delegators with exclusive 'I Delegated' NFTs. Find out more about Moonbeam's initiative to incentivize delegation and the impact on GLMR price.

Posted 2 months ago in DeFi and CeFi


Illustration of Moonbeam's 'I Delegated' NFT

Moonbeam, the cross-chain smart contract platform of the Polkadot ecosystem, has launched a reward campaign for the early birds of delegation. The first generation of delegators of Moonbeam's GLMR token will receive exclusive 'I Delegated' NFTs as a commemorative token.

The deadline for the inaugural generation of delegators was September 22, 2023. The Moonbeam team is hosting an airdrop to reward the most active customers and community enthusiasts.

Every holder of the GLMR token who allocated them to a delegator before September 22 is eligible for the exclusive NFT airdrop. This initiative is designed to incentivize further rounds of delegation.

According to data from Moonbeam's official delegation portal, there are currently 135 entities acting as delegates. The largest delegator holds nearly 210,000 GLMR tokens and commands 1.8% of the voting weight.

The majority of delegators joined the ecosystem in July and August 2023. The community of delegates includes influential entities and communities.

Moonbeam Network allowed Uniswap, the largest Ethereum DEX, to land on the Polkadot ecosystem in May 2023. Moonbeam's GLMR price has dropped by almost 13% since the delegation announcements.

Moonbeam Network, the winner of the first Polkadot parachain auction, enables EVM-based dApps to leverage the WASM-based Polkadot platform. In their move towards decentralization, they announced the delegation procedure to invite GLMR enthusiasts to support the activists with their tokens.

The GLMR price has declined by almost 13% and is currently 98.9% down from its all-time high, while its sister chain, Moonriver, has seen its MOVR asset down by 99.2%, according to CoinMarketCap data.

Last updated 9/23/2023, 3:37:25 PM

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