Moonriver MOVR

1. Summary

Fundamental Rank

Developer Rank

Social Rank

Coinrank

Price

$24.85 +0.6%

Market Cap

$103.30M (#265)

Supply

4.16M / 10.34M

Tags

Smart Contracts Polkadot Ecosystem

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Price
52W High price	$454.51
52W High date	15th Sep 2021 (8 months ago)
All Time High (ATH) Date	11th Sep 2021 (8 months ago)
ATH Price	$494.26
% From ATH	-95.18%
All Time Low (ATL) Date	12th May 2022 (1 week ago)
ATL Price	$19.29
% From ATL	23.63%

Supply & Trading Volume
Volume (24h)	11.61M
Total Supply	10.34M
Max Supply	10.34M
Circulating Supply	4.16M

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Description

Moonriver is defined as a companion network to Moonbeam. It provides an incentivized canary network.

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Moonriver is defined as a companion network to Moonbeam. It provides an incentivized canary network.

The idea here is for new code to first go to Moonriver, where it can be tested as well as verified under real economic conditions, and once it has been proven, it can ship to Moonbeam on Polkadot. This is achieved through an EVM implementation, a Web3-compatible API, and bridges that connect Moonriver to the existing Ethereum Networks.

The MOVR Token Explained

MOVR is the native cryptocurrency utility token that powers Moonriver.

There are specific use-cases surrounding the MOVR token, including supporting the gas metering of the execution of smart contracts, incentivizing collators, and powering the mechanics surrounding the creation of a decentralized node infrastructure, which the platform can run. Additionally, MOVR can be used as a means to facilitate on-chain governance, including the proposal of referenda, the election of council members, and even voting. Its main usage, however, is for the process of paying the network transaction fees.

Keep in mind that a minimum of five MOVR tokens can be staked on the network, and the reward payout time is set at two rounds by default. In each round, there are a total of 300 blocks, and they take 1 hour to complete. These rewards are distributed across collators and nominators, where the collators produce blocks and collect transactions from users in order to generate proofs for relaying the validation process, while the nominators are the token holders that hodl and stake their tokens on the Moonriver network.

These rewards are given to the collator and are fixed at a 20% annual inflation. Additionally, the nominators can get verifiable rewards that are proportional to the number of tokens that are staked in the Nominators reward pool.

Features of Moonriver

Moonriver is developed to fill the role as a smart contract platform and allow developers to redeploy their Ethereum decentralized applications (dApps) through a substrate environment. This means that the smart contracts that power these Ethereum dApps won't really need to be re-written for the Karura network.

To make all of this work, the Moonriver platform offers specific services for developers, which makes it stand out. First, you have the EVM implementation that essentially allows for Ethereum-based smart contracts to be migrated to the Kusama environment. Additionally, it supports a Web3 compatible API, which in turn allows Ethereum-based tools. This includes the MetaMask wallet. Essentially, all of them can be used with Moonriver due to this. Then there are the bridges, which allow for token transfers, state visibility, and message passing with Ethereum and other chains such as Bitcoin. There is even built-in integration for assets such as DOT and ERC-20 based tokens, alongside different infrastructure services, including Chainlink and The Graph.

Founders of Moonriver (MOVR)

When it comes to the founders of Moonriver, it was founded by the Moonbeam Foundation and built by PureStake. These organizations work in order to make founder Derek Yoo’s vision of a multi-chain future real.

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