Moonbeam’s normal GLMR migration window closed final night time at 23:59 UTC (July 31), as its Polkadot community moved into an operational wind-down forward of a relaunch on Base.
The cutoff ended the usual route for self-custodied free balances, whereas change holdings, frozen balances, and protocol positions remained topic to separate dealing with.
The official migration locked GLMR on Moonbeam and launched the identical quantity from a reserve minted upfront on Base, sending tokens to the identical consumer handle at a 1:1 charge.
At 20:20 UTC on July 31, lower than 4 hours earlier than the cutoff, the migration contract held about 308.183 million GLMR. Complete issuance was about 1.241 billion GLMR, placing direct-bridge uptake at 24.83% at that timestamp.
The remaining 75.17% covers a mixture of free holdings, change custody, staking, treasury, and different steadiness classes. Trade processing and snapshot-covered locked balances adopted separate routes, so the contract ratio can’t measure stranded or at-risk provide.
How the cutoff affected GLMR holders
Earlier than the deadline, Moonbeam informed customers to withdraw funds from liquidity swimming pools, lending markets, staking, crowdloans, governance locks, and different protocols the place attainable earlier than bridging. The venture’s July 3 announcement warned that funds left deployed in on-chain protocols might develop into inaccessible after the community wound down. Its assist steering mentioned the bridge processed solely free balances.
For staking and crowdloan balances frozen on the cutoff, Moonbeam mentioned it could honor them on Base if a holder met Moonbeam’s account-signature and snapshot necessities. Its public steering didn’t lengthen the identical specific dedication to arbitrary governance locks, DeFi positions, or unclaimed rewards.
After the usual bridge closed, the migration portal directed late holders to e mail the helpdesk for particular person assessment. Moonbeam had not revealed a common late bridge or public post-cutoff declare portal. Particular person assessment subsequently remained discretionary, with no public assure that each steadiness may very well be recovered.
Trade dealing with various. KuCoin mentioned it could mechanically convert GLMR balances held on its platform at 1:1. Bybit introduced its GLMR community migration and cutover schedule individually. Trade-held balances adopted every venue’s course of relatively than the direct migration-contract route.
Below Moonbeam’s revealed wind-down schedule, the community entered upkeep mode at 00:00 UTC on Aug. 1 and commenced rejecting transactions. Moonscan’s discover mentioned blocks would proceed in the course of the operational wind-down. Person-directed transactions ended on the cutoff whereas block manufacturing continued.
