KR1 PLC (AQSE:KR1) said it contributed a total of 350,000.00 DOT to the Moonbeam crowdloan and Polkadot parachain auction.

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications.

The contributed DOT will be time-locked on the Polkadot blockchain for 96 weeks and will be returned to KR1 following the completion of the respective Moonbeam parachain lease.

Keld van Schreven, Managing Director and Co-Founder of KR1, said: “Moonbeam is having an incredibly successful dry run with its sister chain Moonriver on Kusama, with millions of transactions and hundreds of thousands of active wallets only three months after launch.

“As such, it has become the home to several high-quality projects and a very actively engaged community of enthusiasts.”

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