Moonbeam was initiated in 2019 by Derek Yoo of Pure Stake. The Moonbeam Network was founded by Derek Yoo, the CEO of PureStake, a platform that provides secure and reliable public blockchain infrastructure to blockchain app developers, projects, and enterprises. Stefan Mehlhorn, a specialist in early-stage company management and operation, serves as the chief operations officer of both Moonbeam and PureStake. The native token of Moonbeam, known as Glimmer (GLMR), was issued via a private Community Event called Take Flight, with an initial issuance of 100,000,000 GLMR, which is 10% of the total supply.