Moonriver update: MOVR Live price, price chart, news and markets

The MOVR price update as of now is $1.53. In the previous 24 hours, its trading volume was $3,540,531, and its value has decreased by -5.39%. As of now, MOVR's live market cap is $18,337,555, and it is ranked as the #611 on the Coincu. MOVR has a circulating supply of 12,521,957 and a maximum supply of 12,521,957.

Introduction to Moonriver

Moonriver is an innovative project that aims to provide advanced capabilities of smart contracts on the Kusama network and its parachains. By combining the benefits of Ethereum compatibility with the speed and scalability of Moonriver, developers can deploy decentralized applications (dApps) with ease.

What is Moonriver?

Moonriver is a smart-contract parachain on the Kusama network that is fully compatible with Ethereum. It acts as a companion network to Moonbeam, serving as a canary network for testing and verifying new code before deploying it on Moonbeam on Polkadot.

One of the key advantages of Moonriver is its full EVM implementation and Web3-compatible API, which allows developers to deploy existing Solidity smart contracts and DApp frontends with minimal modifications.

Outstanding Features of Moonriver (MOVR)

Unique Features of Moonriver (MOVR)

Staking and Rewards

Moonriver incentivizes users to stake at least 5 MOVR tokens in the network. The payout time is divided into two rounds, and rewards are given to the Collator and the Nominator. The Collator generates blocks and collects transactions, while the Nominator is a MOVR holder who contributes tokens to the Moonriver network. The annual inflation rate for the Collator's rewards is 20%, while the Nominator receives rewards based on the number of tokens in their reward pool.

Administration

The owner of MOVR has the authority to manage the Moonriver Network. They can submit proposals, organize referendums, set start and end times, accelerate voting phases, and even delegate their voting rights to another account.

Treasury

Moonriver has a community fund that supports approved proposals and receives grants from a percentage of the network's transaction fees. Each network on Moonbeam has its own personalized treasury, making it easier to manage and allocate funds for initiatives.

How does Moonriver work?

Moonriver acts as a testing ground for new code under real economic conditions. Developers first deploy their code on Moonriver for testing and verification before deploying it on Moonbeam on Polkadot.

Although Moonriver shares similarities with Moonbeam, it operates as a full-fledged parachain on Kusama, offering its own unique projects and specialized use cases.

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

Accessing the Kusama Relay Chain

Moonriver provides an accessible gateway to the Kusama Network for teams and developers familiar with Ethereum. Existing Solidity smart contracts can be easily run on Moonriver with minimal adjustments. Ethereum projects can effortlessly replicate their DApps and deploy them on Moonriver using popular deployment tools.

Moonriver Roadmap

The development of the Moonbeam & Moonriver Network began in late 2020, and it has achieved significant milestones since then.

• Q3 - Q4 2020: Released Moonbase Alpha Testnet and developed essential infrastructure.
• Q1 2021: Upgraded Moonbase Testnet, introduced the Grant Program, and established partnerships with well-known protocols such as Chainlink, Band, and Ocean.
• Q2 2021: Earned a parachain slot on Kusama and made preparations for launch. Early DApps started deploying on Moonriver.
• Q3 2021: Moonriver went live on Kusama, becoming fully operational.
• Q4 2021: Preparing for Moonbeam's crowdloan on Polkadot, expanding partnerships, and integrating with more platforms.

For more information, please visit the Moonriver Stories page.