MOONRIVER

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Today we will meet a parachain that aims to be compatible with the Ethereum network and to be one of the first cases of implementation of a multi-chain crypto ecosystem.
We are talking about Moonriver.

Before we talk about Moonriver, we have to talk first about the project behind it, Moonbeam.

The Moonbeam Foundation created the Moonriver project. The intention was to create a canary network, where it would be possible to experiment with ideas for building an Ethereum-compatible blockchain environment on the Kusama network (KSM).

Imagine the idea of crosschain being implemented, where different projects created in different blockchains can be integrated and run in different chains.

The main idea that characterizes Moombeam is that the future is multi-chain, that's why it proposes to be a parachain that brings intelligent contracts and interoperability with the Ethereum network.

Chances are, the thesis is correct. In the coming years the trend is for decentralized applications to transition between different blockchains and allow users and developers much more flexibility in use, compared to today. The market increasingly demands the construction of bridges between different networks.

The project was launched in January 2020 by Pure Stake, a company that provides infrastructure tools and services to blockchain developers.

We can say that Moonriver is to Moonbeam what Kusama is to Polkadot, an experimental platform encouraged, therefore a “canary network”.

Their operability is the same. Like Moonbeam, Moonriver is an EVM (Ethereum Virtual Machine) compliant smart contracts blockchain platform built on the Rust programming language using the Substrate framework.

However, Moonriver will serve as a testing ground for resources that may eventually find practical application at Moonbeam, which is already bidding on the auction for a parachain slot on Polkadot. That is, the code is deployed on Moonriver first, where it will be tested and verified in real economic conditions, and then, if it proves viable, it is sent to the Moonbeam network.

Their proposal makes sense, as Kusama and Polkadot do not natively support smart contracts. Its relay-chain is focused on providing shared security and allowing parachains to communicate with each other. A first-tier solution is needed to run smart contracts. That's exactly what Moonriver and Moonbeam are to their respective networks.

Moonriver took second place in the parachain auction
from June 22nd to 29th at Kusama.

The total KSM linked was 205,935 KSM (US$48M).

The intent of Moonbeam and Moonriver is to combine the best of both worlds: the familiar tools of Ethereum and the scalable, interoperable architecture of Polkadot.

For example, EVM compatibility makes it easier for blockchain devs who develop on Ethereum to move their apps to Kusama to build their respective apps.

DESIGN DA REDE MOONRIVER

The idea is to provide resources, available so that developers can redeploy with as little friction as possible their Ethereum Dapps, in the Substrate creation environment.

Moonriver provides the following resources:

EVM Compatibility: Allows Ethereum-based smart contracts to be migrated to the Kusama environment.
Web3 Compatible API: Allows Ethereum-based tools such as the Metamask wallet to be used with Moonriver.
Bridges: allows token transfers with Ethereum and other chains like Bitcoin.

TOKEN MOVR

Moonriver's native token is $MOVR. Its utility is basically given by allowing its holders to participate in the consensus through staking, payment of transactions, voting on on-chain governance proposals, economic incentives for validators and the execution of intelligent contracts.

To perform staking, a minimum of five $MOVR tokens is required to be placed on the network. The reward payout time is set to two rounds, with each round containing a total of 300 blocks that take approximately 1 hour to complete.

SUPPLY DATA

Max Supply: 10,000,000
Total Supply: 10,145,647
Circulating Supply: 2,185,399.00 $MOVR
Annual inflation: 5%

In other words, approximately 21.50% of the total amount of tokens issued is in circulation.

Smallest unit of a $MOVR token: Wei (10^18 Wei = 1 MOVR)

TOKEN ALLOCATION

The total supply of $MOVR tokens is 10 million. The distribution took place as follows:

40% for community initiatives and reserve parachain slots.
30% for the crowdloan.
24.5% for administration and initiatives long-term adoption of the network.
4.5% for the attraction program of developers.
0.5% for the treasure.
0.5% for bonus reserve.

Currently, the largest trading volume of $MOVR takes place on KuCoin, where in the last 24 hours there has been US$16,466,563 trading. $MOVR is not yet listed on Binance, which is the world's largest cryptoactive exchange.

ECOSYSTEM

Moonriver's tools and integrations currently include:

Ethereum development tools like Metamask, Remix IDE, web3.js, Ethers.js, Truffle.
Integration with oracles: Chainlink, Band Protocol, Razor and DIA Protocol.
Portfolios: Mathwallet, Polkadot.js, Metamask, AirGap.
Partnerships with other Polkadot chains: Acala, Polkadot Relay Chain, Equilibrium, Kilt, Phala, Crust.
Block Explorers: Subscan, Polkadot.js, Blockscout.
DeFi Protocols: Balancer, SushiSwap, Offshift, IDEX, Linear Finance, Injective Protocol.

SOCIAL NETWORKS

There are currently 35,676 members on the Telegram. On Twitter, more than 63 thousand and on Discord, 25 thousand.

It seems that there is a balance of followers on social media, which can signal the formation of a legitimate community around the project.

The TVL (total value locked) on Moonriver is now $228 million and the main native Dapp on the Moonriver network is DEX Solarbeam / $SOLAR.

Next, the Moonriver ecosystem projects and the respective networks where they run.

Polkadot and Kusama are very interesting projects to keep following. The parachain auction procedure may have started a new and promising mechanism for launching proposals, which could make it possible to discover good projects.

Moonriver and Moonbeam may be among them, as they work with a promising concept, that of preparing the blockchain ecosystem for a possible multi-chain future.

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