Moonriver ($MOVR)

Moonriver is a (Proof of Stake) fully Ethereum-compatible smart contract parachain on Kusama. It won one of the first papachain actions on the Kusama network. It is 100% EVM compatible and you can copy-paste existing solidity smart contracts using common tools like Hardhat, Truffle, Remix, and other popular deployment tools. It is a sister network to Moonbeam. New code ships to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code ships to Moonbeam on Polkadot. Polkadot → Kusama Moon Beam → Moonriver

EVM COMPATIBILITY

Being EVM compatible is huge for the Kusama network, it allows for any Dapps built on the Ethereum blockchain to be essentially copied and pasted over to Moonriver. By mirroring Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more, Moonriver minimizes the changes required to run existing Solidity smart contracts on the network.

ROAD MAP

This is the most recent updated roadmap for MOVR, from the website https://docs.moonbeam.network/learn/platform/roadmap/

TOKENOMICS

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. Genesis Token Supply → 10,000,000

Total Circulating Supply → 3,596,774.00

Annual Inflation Rate → 5% uncapped supply

Transaction Fees → 80% burned / 20% treasury

ALLOCATION DETAILS

Parachain Crowdloan: 3,000,000 → 30% of the network was offered to raise KSM needed for a crowd loan to bid in the Kusama para chain auction for an initial 48-week year para chain slot. We used this as a way to achieve token distribution for Moonriver. Upon launch of the Moonriver para chain, 30% of tokens will be distributed immediately to the crowd loan contributors, and the following 70% will be distributed weekly over the life of the lease (48 weeks).

Community Initiatives and Parachain Slot Reserve: 4,000,000 → 40% Tokens reserved to secure future Kusama parachain slot leases (e.g., continued parachain slot occupancy) and other community initiatives (e.g., liquidity incentives, strategic program rewards, etc.).

Parachain Bond Reserve: 50,0000 → .5%Funds to be used for parachain bond purposes. Part of the supply inflation goes into this fund and the idea is ultimately for this reserve to hold enough assets to secure a para chain slot in perpetuity.

Treasury: 50,0000 → .5% Onchain managed funds where spending the funds is only possible via token weighted on-chain governance mechanisms.

Long-Term Network Stewardship & Adoption: 2,450,000 → 24.5% Tokens under the control of the Moonbeam Foundation, to be used to fund network adoption, grants programs, ecosystem development, and other network needs.

Developer Adoption Program: 450,000 → 4.5% Supply that will be used in the short term for project and platform adoption and practical needs. These are matching funds for the Moonbeam developer adoption program.

The $MOVR token functions just like any other layer 1 blockchain. The uses for the MOVR token are...

Supporting the gas metering of smart contract execution

Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run

Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc

Paying for transaction fees on the network

XC-20

XC-20s opens the door to cross-chain interactions between parachains. This is a new type of interoperable token that has an ERC-20 token interface. They are ERC-20 compatible, but also Substrate-native assets that build upon XCM (Cross Consensus Messaging). Kusama’s KSM representation on Moonriver is known as xcKSM.

Developers can integrate XC-20s with regular Ethereum development frameworks or dApps. It combines the power of Substrate assets (native interoperability) but allows users and developers to interact with them through a familiar ERC-20 via a precompile contract (Ethereum API).

💡

The photo above represents Moonbeam but it works the same way for Moonriver.

Developers: can make their project tokens cross-chain capable without modifying the existing ERC-20 format and integrate XC-20s with existing Ethereum development frameworks and DApps.

Users: can “deposit” tokens from elsewhere in the Kusama ecosystem, like KSM, to be used in Moonriver-based applications. This functionality has been added to the existing Moonriver DApp.

All assets created in the XC-20 format will be able to move to other Kusama parachains.

TEAM

The Moonbeam and Moonriver networks are built by PureStake https://www.purestake.com/. An Infrastructure-as-a-Service to crypto application and Validator Service for PoS Polkadot and Algorand. They're both being developed by the same team and foundation.

A few of the talented team. Link to view full team - https://moonbeam.network/team/

Derek Yoo - CEO & Founder: He used to work as a CTO and CPO at Fuse - A global cloud communications and collaboration software platform for enterprises, also a CEO of PureStake.

Stefan Mehlhorn - COO: Master degree in Computer Science. In the past, Stefan was a Head of Technology Operations at Samsung Pay

Alan Sapède - VP of Blockchain Engineer: Alan has two years experience in Software Engineer at Google