Introduction to Moonbeam
Moonbeam is a para-chain in the Polkadot ecosystem. It is a layer 1 blockchain solution that extends the base Ethereum featureset with additional features such as on-chain governance, staking, and cross-chain integrations.
GLMR is the official token of the moonbeam ecosystem, and it serves the following purposes:
- Payment of transaction fees: All transaction fees in the Moonbeam ecosystem are paid using GLMR.
- Execution of smart contracts: GLMR is used to pay for smart contract execution, playing the same role of ETH and BNB on Ethereum and BSC.
- The incentive for collators to produce blocks to support the network: Nomination of collators which helps the liveness of the network is done using GLMR token.
- Facilitation of Moonbeam's on-chain governance system: Participation in on-chain Glimmer-weighted voting and governance is done using GLMR token.
AirGap GLMR Wallet
AirGap GLMR Wallet provides a convenient way to store, transfer and stake GLMR while keeping your private keys completely offline. The staking process in AirGap is simple, intuitive, and comes with a simplified UI.
How to set up a GLMR account.
This guide uses XTZ as an example, but the same steps can set up GLMR in AirGap. Step by step guide on how to set up all available protocols in AirGap