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Moonriver (MOVR) Smart Contracts Platform Goes Live On Polkadot's Kusama

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Fri, 08/27/2021 - 11:54
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Vladislav Sopov
Polkadot's Moonbeam now has its "canary network" up and running on Kusama (KSM)
Moonriver (MOVR) Smart Contracts Platform Goes Live On Polkadot's Kusama
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Ethereum-compatible Moonriver has completed its launch process: more than 60 teams can start deploying their dApps to the platform in a fully permissionless manner.

Moonriver launches on Kusama: EVM and balances are live

According to the official announcement shared by Moonbeam Polkadot's smart contracts platform, its community-led "sister chain" Moonriver goes live.

Starting from today, all elements of Moonriver become accessible, including Moonriver unified account structure (MOVR addresses are actually 0x-like Ethereum addresses), a Web3 RPC and precompiles.

Therefore, right now, this environment becomes suitable for dApps deployment. The Moonbeam team expects "dozens" of dApps to come to its smart contracts platform in the coming weeks.

As Moonriver accounts are live and fully operable, users can easily transfer funds between them just like they do with Ethereum (ETH) addresses.

Crowdloan rewards and staking details are announced

Also, Moonriver is going to distribute rewards between enthusiasts who contributed to the crowdloan that allowed the team to book Kusama's parachain slot. The supporters locked more than 200,000 KSM to facilitate the project launch.

Related
Polkadot-Based Moonbeam Announces It Booked Kusama Slot for Moonriver

Almost 1.4 million MOVR from the "reward supply pool" will be distributed to Moonriver's early supporters in the coming months.

Also, MOVR tokens can be used for staking and governance purposes from day one. Today, MOVR token is listed by KuCoin; its price instantly rocketed from $20 (listing price) to almost $100.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)