As a decentralized smart contract platform, Moonbeam requires a utility token to function.
This token is central to the design of Moonbeam and cannot be removed without sacrificing essential functionality. The Moonbeam token uses include:
- Supporting the gas metering of smart contract execution
- Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
- Facilitating the on-chain governance mechanism, including proposing referenda, electing council members, voting, etc.
- Paying for network transaction fees
In the Moonbeam deployment on Polkadot MainNet, this token will be called Glimmer, as in, “that smart contract call will cost 3 Glimmer.” The token symbol will be GLMR.
You can find more information about Glimmer here.
In the Moonbeam deployment on Kusama (called Moonriver), this token will be called River, as in, “that smart contract call will cost 3 River.” The token symbol will be RIVER.
You can find more information about River here.
In our Moonbeam TestNet (called Moonbase Alpha), the token is called DEV. This token can be acquired freely, as its only purpose is to drive development and testing on Moonbase Alpha.
You can access free DEV tokens from our faucet.