Moonbeam uses a token called Glimmer (GLMR) which is essential to the smooth functioning of the Moonbeam ecosystem on the Polkadot relay chain. Here are some of the key uses for the GLMR token: Pay Transaction Fees GLMR is used to pay gas fees between users and applications via smart contracts running on Moonbeam. In this manner, it acts as the native currency within this platform. Staking to Improve Network Security Users can stake their GLMR holdings to participate in validating transactions taking place in the Moonbeam network. This option lets them become validators to verify transactions and add new blocks to the network.Governance Token of Moonbeam GLMR holders are entitled to participate in the governance of the Moonbeam ecosystem. They can propose updates, vote on other users’ proposals, use it for electing council members to oversee the functioning of the network, and have a say in the evolution of Moonbeam. Crypto Asset to Invest in, Trade or Hold The Moonbeam crypto is one of the recent additions to the digital asset market and holds much promise as Web 3.0 takes off. As a result, it is an interesting cryptocurrency to invest in, trade against other digital assets, or hold in the long term if you believe in the project’s potential. Do remember to check the current Moonbeam price, market cap, 24-hour trading volume, circulating supply, and other relevant news before trading the Glimmer token.Earn Passive Income You can grow your crypto portfolio by holding GLMR in the long term and staking your holdings. In addition to staking on the Moonbeam network to become a validator, several DeFi apps also offer the option to stake GLMR and earn rewards. KuCoin also lets you generate a stream of passive revenue from HODLing GLMR via the Crypto Lending feature. You can lend liquidity in GLMR to our platform and earn exciting APRs over a period of 7 days, 14 days or 28 days.