Currently, a vote has been launched online, with plans to create a technical committee that will function within OpenGov to approve new proposals. 

All $MOVR holders who vote in this proposal will receive a commemorative NFT from Moonriver.

Vote link: https://moonriver.polkassembly.network/referenda/3

#Moonriver #CryptonResearchBot

What is #Moonriver (MOVR)?



Moonriver is an #Ethereum-compatible blockchain environment built on the Kusama network. It is

intended to function as a parachain, helping crypto projects expand their reach to new users and markets

with a multi-chain approach.



On Kusama, parachains are custom blockchains that feed into the main blockchain and heart of the

Kusama network, called the Relay Chain. By being integrated into the Relay Chain, #parachains benefit

from the Relay Chain’s base features.



The Moonbeam Foundation created Moonriver to provide an ethereum-compatible smart contract

platform to its community, and is also releasing Moonbeam (GLMR), a similar platform for Polkadot, later in

2021.



Moonriver is intended to function as the “canary network” for Moonbeam on Polkadot, meaning that new

code would ship to Moonriver first, where it can be tested and verified under real economic conditions,

before being shipped on Moonbeam.



Moonriver’s native cryptocurrency, MOVR, should play a key role in maintaining and operating the

Moonriver network. It is expected to be used for paying transaction fees, supporting smart contract

execution, incentivizing collators for producing blocks to support the network, and facilitating Moonriver’s

on-chain governance mechanism.



MOVR is expected to be airdropped to community members who use their KSM, Kusama’s cryptocurrency,

to vote for the application to go live as a parachain on Kusama in a process called a Parachain Auction.



MOVR Token Launch & Issuance



Access to Kusama parachain slots is provided to projects for fixed periods of 6-48 weeks, with Moonriver

needing to go through an auction to win access to one of the 100 slots.



During a parachain auction, Kusama holders can bond their KSM in support of the project they believe

should receive a parachain slot. At the end of a determined period of time, the project with the most KSM

committed to their campaign generally wins access to a parachain slot, allowing them to operate on

Kusama’s network for a 6-48 week period.



If Moonriver wins an auction, supporters are expected to receive Moonriver’s MOVR token.



Moonriver (MOVR) Network Design



Moonriver is intended to work as a smart contract platform, allowing developers to redeploy their

ethereum dapps in a substrate environment with minimal friction. This means that the smart contracts

that power Ethereum dapps will not need to be rewritten or reconfigured for the Karura network.



To access these features, the Moonriver platform will offer these main services to developers:



EVM implementation – Allows for Ethereum-based smart contracts to be migrated to the Kusama environment.

Web3 compatible API – Allows Ethereum-based tools, such as popular Ethereum wallet Metamask, to be used with Moonriver

Bridges – Allows for token transfers, state visibility, and message passing with Ethereum and other chains like Bitcoin.

Built-in integrations for assets like DOT and ERC-20s, and infrastructure services like Chainlink and The Graph.



Moonriver’s native cryptocurrency, MOVR, plays a key role in maintaining and operating the Moonriver

platform, and can be used for executing smart contracts, incentivizing nodes, paying for transaction fees

and facilitating governance.

Genesis Token Allocation

When the Moonriver network launched, the total supply for MOVR tokens was 10 million. A portion of the

network tokens has been reserved to ensure the network maintains a parachain slot on the Kusama

network.

A significant portion of the network (30%) was fairly and permissionlessly distributed as part of the initial

crowdloan. The remaining balance is distributed to teams building on Moonriver and held by the

Moonbeam Foundation to support long-term protocol and network development. Notably, there is no

“Founders reward” and the PureStake team developing Moonriver does not own any of the tokens at

network genesis.



Conclusion



Moonriver is an exciting new blockchain platform that offers ethereum compatibility and the ability to

create custom blockchains that feed into the Kusama network. With the launch of MOVR, the platform's

native cryptocurrency, community members have the opportunity to participate in the platform's growth

and development.

Moonriver (MOVR) is a key player in the cryptocurrency space, functioning as a community-led sister parachain on Kusama. It acts as a canary network for Moonbeam, allowing new code to be tested under real economic conditions before being implemented on Moonbeam in the Polkadot ecosystem. This strategic approach positions Moonriver for potential growth and innovation within the blockchain sector.Recently, Moonriver has demonstrated impressive growth, with a 148.42% increase in the last 24 hours and a 242.85% rise over the past 30 days. Currently, the price of MOVR stands at around $21, highlighting its potential for rapid growth amidst high market volatility.Investing in Moonriver should align with your personal risk tolerance and investment strategy. The recent surge in MOVR’s price indicates its high potential for gains but also underscores the risks and volatility in the crypto market.If MOVR continues its recent trend, we could see a price increase to around $30-$35, considering a more sustainable growth rate compared to the explosive 148.42% rise observed in the last 24 hours.Moonriver, with its unique position in the Kusama and Polkadot networks, offers an interesting investment opportunity. The potential for high returns is evident from its recent performance, but it’s crucial for investors to consider the associated risks and market volatility. A balanced approach, considering both short-term trends and long-term potential, is recommended for those considering an investment in MOVR.#MOVR #Moonriver