Last updated 10/01/2022
Official Website: https://moonbeam.network/
Starting development in January 2020 and launching in Q3 of 2021, Moonriver (MOVR) is an Ethereum-compatible, smart-contract parachain on Kusama (KSM). The token is intended to be the companion network to Moonbeam. The supply of token economic behaviours on Moonriver will be the same as Moonbeam, however, the team have stated that distribution will be different in order to support the unique goals and attributes of the network. Moonriver is said to be a ‘CanaryNet’ for Moonbeam, but with the difference of a community-led project where users can decide the direction the network takes. To begin the project development, Moonriver received a large crowdloan to solidify its parachain slot on the Kusama network.
As with any decentralised smart contract platform, MOVR is the token used to power the network and is central to the design. The MOVR utility token can be used for many functions including supporting gas metering and incentivising collators and powering the mechanics for node infrastructure. The token can also facilitate on-chain governance including proposing referenda, electing council members as well as voting and paying transactions fees on the network.
Moonriver plans to target a 5% inflation rate and because of this, there is no capped token supply. The idea behind setting this rate of inflation is to ensure on-going security of the network is maintained. Of the 5% inflation, 1% is scheduled to incentivise collators and another 1.5% will be directed to the parachain bond reserve, to pay for the parachain slot perpetuity. The remaining 2.5% will be rewarded to users of the network staking their MOVR.
The ‘Moonbeam Flight Crew’ are a global team of maker, thinker and doers. Both Moonbeam and the Moonriver networks have been developed by PureStake, receiving funding from the Moonbeam Foundation. Both organisations will work together with development and evangelising the Moonebeam network to Polkadots’ Ecosystem.
Derek Yoo (CEO) – With a strong background in system engineering, Yoo has been the CEO of PureStake since May 2019, providing infrastructure-as-a-service to crypto application developers, project and enterprises.
Stefan Mehlhorn (COO) – Currently the chief operating officer at both the Moonbeam network and PureStake, Mehlhorn has strong technological and entrepreneurial skills, broad in international expertise.
Tim Baldwin (VP of Engineering) – With more than 20 years of experience in the design, development and delivery of software solutions, Baldwin has much experience for the position. Baldwin is trusted to run business critical and customer facing software with the best performance possible.
Alan Sapède (VP of Blockchain Engineering) – As a self-driven, assertive and confident individual, Sapède has been appointed Vice President of Blockchain Engineering at PureStake. Sapède has a focus on developing that public blockchain that allows developers to build apps that connect across chains.
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A great feature of Moonriver is its compatibility with Ethereum (ETH) in which any user that currently holds an Ethereum wallet may use this to interact with Moonriver tokens. It is recommended checking that the coin is supported as it may not be displayed within the wallet interface. If you do not hold an Ethereum wallet, you may set one of the following to begin interacting with the blockchain.
You can Buy & Sell Moonriver (MOVR) by heading over to the Buy Coins page of our website. Moonriver (MOVR) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Moonriver (MOVR) has never been easier, simply place your order and provide your wallet address. Once your payment arrives Moonriver (MOVR) will be sent directly to your wallet.
If you choose to Sell Moonriver (MOVR) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the Sell Coins page.
Moonbeam Foundation: https://moonbeam.foundation/
Block Explorer: https://moonriver.moonscan.io/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.