Wrapped Moonbeam
WGLMR
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WGLMR (Wrapped Moonbeam) serves as the ERC-20 wrapper for GLMR, the native token of the Moonbeam parachain. Data gaps were identified in Active Development (-1.0), as the underlying Moonbeam network completed its shutdown and transaction halt on August 1, 2026 following a migration to Base, leaving the wrapper without an active independent codebase. Across the remaining categories, Tokenomics (5.0/10) and Community Support (5.0/10) reflect standard uncapped supply mechanics (with fee burn) and moderate social following but minimal grassroots governance participation. Team and Governance (5.5/10) benefits from PureStake's founding credentials and CertiK verification, though wrapper-level governance is opaque. Market and Use Case (2.0/10) and Security and Audit History (3.5/10) highlight extreme vulnerabilities: daily volume is negligible, market capitalization is severely depleted, and the asset suffers from an unrecovered 99.61% price drawdown from its all-time high. Due to the network migration and chain shutdown, the token is deprecated.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped Moonbeam (WGLMR)
Wrapped Moonbeam (WGLMR) is a deprecated token following the Moonbeam parachain shutdown and transaction halt on August 1, 2026, after migrating to Base. Originally deployed on the Moonbeam EVM-compatible parachain, WGLMR functioned as an ERC-20 wrapper for GLMR, the network's native gas asset. The wrapper's primary mechanism was to enable GLMR to interact with decentralized finance applications requiring standardized ERC-20 token interfaces.
The underlying Moonbeam network was developed by PureStake, led by Derek Yoo. WGLMR tracked GLMR on a 1:1 basis, inheriting the underlying asset's supply dynamics, which included a 1 billion GLMR genesis supply, an annual inflation target of roughly 5%, and a 100% transaction fee burn policy enacted in March 2025. WGLMR did not feature an independent decentralized governance structure or separate token utility beyond its wrapping function.
The token has experienced multiple security-related events and severe market contraction. In June 2022, a critical vulnerability was identified and responsibly disclosed that could have allowed the unlimited minting of wrapped native tokens, including WGLMR, exposing approximately $200 million across Moonbeam, Astar, and Acala; the issue was patched prior to exploitation with no lost funds. In August 2022, the broader ecosystem was affected by the Nomad bridge exploit, which drained almost $200 million. Over its lifespan, WGLMR suffered an unrecovered 99.61% price drawdown from its all-time high of $5.91 to an all-time low of $0.02258, alongside minimal trading activity and low market capitalization prior to the network's shutdown.