We’ll talk about Moonriver project today and tell you what is MOVR token in this article and tell you its vision, uses, tokenomics, and how and where to buy this coin…
What Is Moonriver?
Moonriver is a smart-contract blockchain built on Kusama that aims to integrate with the existing Ethereum developer toolchain and network. It’s meant to be a companion network to Moonbeam, with the goal of providing an enduringly incentivized canary network. The new code will be released to Moonriver first, where it can be thoroughly tested and confirmed in real-world conditions. The same code will then be sent to Moonriver on Polkadot when it is proven.
The Moonriver network enables the migration of Ethereum-based smart contracts into the Kusama environment, as it provides EVM implementation. These features also allow for the construction of bridges within the network, which may be utilized to provide state visibility, token transfers, and assist in communication between different chains. The Moonriver platform also enables third-party integration through its Web3 compatible API functionality, with a number of well-known Ethereum wallets such as Metamask and other popular Ethereum tools that can be used on it.
What is River (MOVR) coin?
Moonriver, as a decentralized smart contract platform, requires a utility token to operate. River is positioned at the center of Moonriver’s design, and it can’t be removed without jeopardizing essential functionality.
Moonriver token uses
- Supporting smart contract execution’s gas metering
- Incentivizing collators and running the mechanisms behind establishing a decentralized node network on which the platform may operate
- Facilitating the on-chain governance mechanism, including proposing referenda, electing council members, voting, etc.
- Paying for network transaction fees
When the Moonriver Network is live, with an annual inflation rate of 5%, there will be a total supply of 10 million MOVR tokens.
The vision behind Moonriver (MOVR)
Moonbeam and Moonriver (MOVR) both have a similar goal in mind. The Moonbeam foundation’s creators’ vision is to create a platform that allows for the connection of several chains and users, allowing for a large number of assets and users. Moonbeam has developed a smart contract platform that is EVM-compatible and allows the creation of decentralized applications (dApps).
The smart contract platforms aren’t yet on a cross-chain network, but a shift to one will let developers shift their works to Moonbeam and expand the scope of their apps to new assets and users on many chains.
Moonriver tools and integrations
- Ethereum developer tools: Metamask, Remix IDE, web3.js, Ethers.js, Truffle, Polkadot.js apps
- Oracle integrations: Chainlink, Band Protocol, Razor, DIA Protocol
- API & Infrastructure integrations: Onfinality, Covalent
- Wallets: Mathwallet, Polkadot.js, Metamask, AirGap
- Partnerships with other Polkadot chains: Acala, Polkadot’s relay chain, Equilibrium, Kilt, Phala, Crust
- Bridges: Chainbridge, Ren_, Interlay_, Snowfork_, Axelar_
- Block explorers: Subscan, Polkadot.js, Blockscout*
- DeFi Protocols: Balancer, SushiSwap, Offshift, IDEX, Linear Finance, Injective Protocol
- Assets & Issuance Partners: Ocean Protocol, AllianceBlock, AMPnet, Poolz, Polkastarter and Kilt
- DApps: Human Protocol, Polkacover, BePro
The token allocation
- 40% to community initiatives and parachain slot reserve;
- 30% to parachain crowdloan;
- 24.5% to long-term network stewardship & adoption;
- 4.5% to developer adoption program;
- 0.5% to treasury;
- 0.5% to parachain bond reserve;
Moonriver (MOVR) tokenomics
Deployment Network: Moonriver
Relay Chain: Kusama
Token Name: River (MOVR)
Anticipated Launch: Q2 2021
Small Unit: Sediment (10^18 Sed = 1 RIVER)
Genesis Token Supply: 10 Million
Annual Inflation Rate: 5% Uncapped Supply
Transaction Fees: 80% Burned / 20% to Treasury
How and where to buy Moonriver (MOVR) coin?
- You’ll need to buy one of the most popular cryptocurrencies, most often either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or Binance Coin (BNB).
- Once you’ve completed the KYC procedures. You’ll be prompted to add a payment method. You have the option of using a credit or debit card or bank transfer and purchasing one of the major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
- Transfer your cryptos to an Altcoin Exchange
- Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase MOVR from the exchange
Decent daily trading volumes and a large user base are available at a few popular crypto exchanges. This will ensure that you may sell your coins whenever you want, with fees generally being lower. It’s also advised that you join these platforms since once MOVR is listed, it will draw a large number of trading activity from users there, allowing you to take advantage of some great trading opportunities!
