Moonriver (MOVR) is a project focused on offering advanced capabilities of smart contracts compatible with Ethereum, but through the Kusama network and its parachains to offer greater speed and scalability to the dApps deployed on its network.

What is Moonriver 

Moonriver is an Ethereum-compatible, smart-contract parachain on Kusama. It is intended to be a companion network to Moonbeam, where it will provide a permanently incentivized canary network. New code will ship to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code will ship to Moonbeam on Polkadot.

It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonriver to existing Ethereum networks.

This allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonriver with minimal changes.

Outstanding features

Unique features of Moonriver (MOVR)

Mark out

At least 5 MOVR tokens can be staked in the network. The payout time is divided into 2 rounds, each round has a total of 300 blocks and takes about 1 hour.

Rewards will be given to the Colator and the Nominator. The employee generates blocks and collects transactions from users to generate evidence that is passed on to the validation process. The nominees are MOVR holders – those who use their tokens in the Moonriver network.

The reward is awarded to the employee with an annual inflation rate of 20%. In the meantime, the nominee will be offered different rewards proportional to the number of tokens used in the nominee’s reward pool.

administration

Owner MOVR has the right to manage Moonriver Network. They can submit their proposals, organize referendums, set start times for public referendums, accelerate voting phases, set blocking and end times and delegate their voting rights to another account.

Treasury

The network sets up a community fund to support board-approved proposals and receives grants from a percentage of the network’s transaction fees. What is unique about this feature is that each network on Moonbeam has a personalized till that makes it easier to manage and allocate funds for board-approved proposals.

How does Moonriver work?

Moonriver provides an environment to test new code under real economic conditions. New code ships to Moonriver first, where it can be tested and verified. Once proven, the same code ships to Moonbeam on Polkadot.

Although Moonriver shares much of its codebase with Moonbeam once they’re both launched, Moonriver will continue to live on as a parachain on Kusama, with its own projects and specialized use cases.

In August 2021, Moonriver officially became a parachain on the Kusama network.

Moonriver is an easy route to Kusama Relay Chain. It allows teams and developers, who are familiar with Ethereum, access to the Kusama Network with little or no barriers. It minimizes the changes required to run existing Solidity smart contracts on the network. Therefore, Ethereum projects can simply replicate their DApp and deploy it to Moonriver using popular deployment tools.

Roadmap

Updates

The development of Moonbeam & Moonriver Network first started in late 2020.

• Q3 – Q4 2020: Released Moonbase Alpha Testnet and developed infrastructure.
• Q1 2021: Upgraded Moonbase Testnet, announced Grant Program and in initial partnership with many well-known protocols such as Chainlink, Band, Ocean, etc.
• Q2 2021: Moonriver won a parachain slot on Kusama and prepared for the launch. Early Dapps began to deploy on Moonriver.
• Q3 2021: Moonriver went live on Kusama.
• Q4 2021: Preparing for Moonbeam (its sister parachain) crowdloan on Polkadot. Continue to expand the project’s partnerships and integrations.

Technical Data

Token Metrics

• Token Name: Moonriver.
• Ticker: MOVR.
• Blockchain: Kusama.
• Contract: 0x98878b06940ae243284ca214f92bb71a2b032b8a.
• Token Type: Utility và Governance.
• Total Supply: 10,000,000 MOVR.
• Circulating Supply: Updating…

Token Allocation

• Community Initiatives and Parachain Slot Reserve: 40%
• Parachain Crowdloan: 30%
• Long-Term Network Stewardship & Adoption: 24.5%
• Developer Adoption Program: 4.5%
• Parachain Bond Reserve: 0.5%
• Treasury: 0.5%

Token Sale

Updating…

Token Release Schedule

• Crowdloan: Upon launch of the Moonriver parachain, 30% of tokens will be distributed immediately to the crowdloan contributors, and the following 70% will be distributed weekly over the life of the lease (48 weeks).
• Community Initiatives and Parachain Bond Funding: 10% of genesis supply have been allocated to liquidity programs. For simplicity reasons, the Foundation has evenly distributed the release of these tokens across 11 months here, but the schedule may differ once details of the program are announced.
• Developer Adoption Program: The Foundation will release tokens as part of grants to teams building on Moonriver. These tokens will be released within approximately 4 months of the network launch

Notes:

• Not included: The Foundation may release additional tokens as part of ecosystem development and to cover network-operation expenses. Material releases will be disclosed in transparency. To date, Foundation has released approx ~400k of MOVR to cover expenses and for liquidity.
• Unlike GLMR of Moonbeam, there were no sales of MOVR prior to launch and no project team allocations.

Token Use Case

Currently, the MOVR token has 4 use cases:

• Gas metering: Supporting the gas metering of smart contract execution
• Protocol Security: Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
• Governance: Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc
• Network transactions: Paying for transaction fees on the network.

Market and Community

Community

Moonriver Network has crossed the mark of 92,000 Followers on Twitter

Backers

Team

The Moonbeam and Moonriver networks are built by PureStake – An Infrastructure-as-a-Service to crypto application and Validator Service for PoS Polkadot and Algorand. They’re both being developed by the same team and foundation.

• Derek Yoo – CEO & Founder: He used to work as a CTO and CPO at Fuse – A global cloud communications and collaboration software platform for enterprises, also a CEO of PureStake.
• Stefan Mehlhorn – COO: Master degree in Computer Science. In the past, Stefan was a Head of Technology Operations at Samsung Pay
• Alan Sapède – VP of Blockchain Engineer: Alan has two years experience in Software Engineer at Google

Partners

Moonriver continuously expands the ecosystem by partnering and integrating with many Dapps across various fields.

Investors

Q3 2020

Moonbeam (also Moonriver) had raised 1.4M in the seed round led by Hypersphere Ventures, a venture firm focused on Polkadot founded by Polkadot co-founder Robert Habermeier.

Other notable participants include Arrington XRP Capital, HashKey, KR1, Bitcoin.com Exchange, and Du Capital.

March 3, 2021

Moonbeam was funded 6M in a strategic round. The primary investor was CoinFund, but it also included participation from Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, and IOSG Ventures.

Conclution

Moonriver is a project that seeks to attract Ethereum dApps developers to make the leap to their network and enjoy better scalability, lower commissions, and without the need to modify their dApp at any time.

In that sense, Moonriver is a project that fully complies with what was promised, since it is very easy to make these migrations and, for the end-user, with a practically transparent transfer, which contributes to adoption. On the other hand, its operating scheme also guarantees unique opportunities for users who wish to promote the network. For example, by staking to support transaction validators on Moonriver and enjoy an easy-to-use reward system.

In short, Moonriver is a project with incredible capacity, especially if we consider that its interoperability is not limited only to Ethereum, but to any network that connects to it, which can turn it into a huge cross-hub hub. chain supported on Kusama, its parachains, and the Substrate framework.

Find more information about:

Website: https://moonbeam.network/networks/moonriver/

Twitter: https://twitter.com/MoonriverNW

Telegram: https://t.me/Moonbeam_Official

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Issac

Coincu Ventures