Moonriver: a Revolutionary Smart Contract Platform on the Kusama Network
The Moonriver Crowdloan is coming. Soon, blockchain enthusiasts around the world will be able to help bring Ethereum compatibility to the Kusama network. 30% of the Moonriver network tokens will be distributed to the participants of the crowdloan. But what is Moonriver really, and how does it work?
What Is the Moonriver Network?
Moonriver is a community-driven, fully Ethereum-compatible parachain built on the Kusama network. The main force behind the development of Moonriver is the Moonbeam Foundation, and the platform is powered by its native network token called Moonriver (MOVR).
To understand the purpose of Moonriver, it’s essential to first have some familiarity with the Kusama Network.
What Is Kusama?
Kusama is a scalable network of specialized blockchains founded in 2019 by Gavin Wood, co-founder of Ethereum and founder of Polkadot. Kusama utilizes Substrate and a very similar codebase as Polkadot. The main purpose of Kusama is being a “canary network” for Polkadot — developers of innovative solutions can use Kusama for the deployment of their projects on Polkadot.
What Is the Difference Between Moonriver and Kusama?
Just like Kusama, the main initial goal of Moonriver will be to serve as a “canary network”. In other words, Moonriver will help the developers to find any potential security vulnerabilities and other issues before the final deployment on Polkadot, thus serving as a “canary in the coal mine”.
The problem with many similar projects is the lack of proper incentives when running on a test network, which can cause unpredicted problems during the launch on the main network. Moonriver aims to solve this issue by various incentivizing mechanisms, including governance incentives, built in a permanent environment designed to massively enhance the security, quality and development process of Polkadot projects.
For people with no previous Kusama experience, understanding the differences between Moonriver, Kusama and Polkadot can be confusing at first. While all these projects are mutually synergic and create a complementary ecosystem, it should also be clear that networks can be very different even if they share the same codebase.
Advantages of the Moonriver Network
Moonriver is the easiest platform for creating decentralized applications on Kusama. The Moonriver smart contracts platform is fully compatible with Ethereum, which means that Ethereum developers can use Moonriver to effortlessly switch to Polkadot, without having to forfeit utilizing any of the tools they are familiar with.
Full Compatibility
If you are an Ethereum developer with a pre-existing smart contract, Moonriver allows you to migrate to Polkadot with no effort — the contract will work with no changes in most cases, and sometimes only minor alterations will be necessary.
Familiar Languages
Moonriver allows you to write smart contracts in Solidity or any other language that compiles to the standard EVM bytecode.
Support of All Popular Tools and Front-Ends
All of the popular tools such as MetaMask, Truffle and Remix are fully integrated into the Moonriver ecosystem. This also includes all common Javascript libraries such as Ethers.Js or Web3.Js.
What Is the Moonriver Token?
Moonriver (MOVR) is the original, native network token of the Moonriver smart contract platform. It fulfills functional capacities on the Moonriver platform while also helping to incentivize the development process. In order to assure that Moonriver remains a community-led project, MOVR tokens will be distributed to the community to maximize decentralization.
Moonriver Token Details
Token Name: Moonriver (MOVR)
Deployment Network: Moonriver
Relay Chain: Kusama
Genesis Token Supply: 10 Million
Annual Inflation Rate: 5% Uncapped Supply
Transaction Fees: 80% Burned / 20% to Treasury
Moonriver Crowdloan
After a successful campaign and initial deployment of the Moonriver parachain on the Kusama network, on-chain reward distributions will begin: 30% of all rewards will be distributed right away, and available to claim immediately by the participants of the Moonriver Crowdloan. The remaining 70% of the rewards will be distributed gradually, over the course of 48 weeks.
The Alpha TestNet of Moonriver already has a vast number of active integrations, and more are being developed every month. Because of that, when the Moonriver MainNet launches, the Moonriver ecosystem will already be able to provide the users with a vast suite of solutions, including DeFi projects, NFT platforms, and other fully functional decentralized applications.
Participation in the Moonriver Crowdloan will be possible either through the Moonriver Crowdloan DApp, or one through the official exchange partners which will be revealed shortly. Pre-registration to the Moonriver Crowdloan is open and can be accessed on the official Moonriver website.