Binance lists Polkadot parachain token Glimmer

Binance will list Glimmer (GLMR), the world’s biggest exchange posted on its website. Trading for the pairs GLMR/BTC, GLMR/BUSD, and GLMR/USDT will open on January 11 at 16:00 UTC.

Deposits will open that same day at 10:00 UTC in preparation for trading. Withdrawals for GLMR will open on January 12 at 15:00 UTC.

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The exchange warns that the withdrawal open time is an estimate and only serves for users’ reference. They can see the actual status on the withdrawal page

What is Glimmer?

Glimmer is the utility and governance token of Moonbeam, an EVM-compatible and substrate-based blockchain that operates as a Polkadot (DOT/USD) parachain. Users can participate in staking, governance, earning rewards through providing liquidity, and payment of transaction fees. The listing fee on the exchange is zero.

About Moonbeam

Since the launch of Moonbeam in April 2020, the development team has been working hard to meet engineering milestones and deliver on the stated project goals. In the first six months following the announcement, the team delivered a working TestNet called Moonbase Alpha, which is compatible with Ethereum (ETH/USD).

They were awarded a Web3 Foundation grant for their work on the development of a Web3 RPC for the Frontier projects.

Making apps on Polkadot easier

Moonbeam makes it a lot easier to develop applications on Polkadot blockchain in comparison to implementing a parathread or full parachain because the substrate is powerful and complex. You don’t need to worry about issuance schedule, token economic models, governance, security, or incentivizing nodes with an app based on Moonbeam.

If you were to launch your own blockchain, you’d have to deal with all of these issues.

Smooth and seamless upgrade from smart contract to full parachain

According to the website, the upgrade path from a Moonbeam smart contract/DApp to becoming a full parachain or parathread is smooth and seamless.

You can leverage Moonbeam’s full connection to the Polkadot Relay Chain, which the Moonbeam economic model pays for on an ongoing basis. This is much less expensive than paying for parachain- or parathread-based access on your own.

In June last year, Moonriver was released to Kusama (KSM/USD) and is now live.