Moonbeam announced a full migration of the GLMR token from the Moonbeam parachain to Base. According to the official announcement, existing GLMR holders must bridge their tokens before July 31, with the migration taking place at a 1:1 ratio into Base ERC-20 GLMR. The project also said users should withdraw funds from DeFi protocols on Moonbeam before bridging, while centralized exchanges are expected to handle the migration automatically.
Refer to the official tweet by GLMR:
The Moonbeam launch on Base is going to be one to remember. Stay close to our channels.
GLMR Info
Moonbeam is an Ethereum-compatible smart contract parachain based on Polkadot. Moonbeam facilitates the process of using popular Ethereum developer tools to implement or re-deploy Solidity projects into a Substrate-based environment.
GLMR is the native token of the Moonbeam network. The token is used for governance, gas fees, ensuring security through staking, and participating in parachain auctions on Polkadot.