About Moonriver and Its MOVR Token

Introduction Ethereum revolutionized the crypto scene when it first emerged in 2015. It also had a wider range of utility and adaptability (in comparison to competing cryptocurrencies), which has grown even more since then.

But it also has its difficulties. Understanding all of this made Mooonbeam create a solution. This solution, enhanced by Polkadot, is a multi-chain system that is designed to utilize and further expand Ethereum’s possibilities while making it more viable in the cryptocurrency space. The solution was called Moonriver and it was built as a sibling parachain to guarantee that all operations proceeded successfully.

Moonriver is a canary network designed as a platform to deploy new code first for testing, before launching on Moonbeam; and being an Ethereum compliant parachain atop Kusama, it will adapt and expand over time to cover use cases beyond Moonbeam. In addition, the Moonriver community can influence the continued growth of Moonbeam through the MOVR token they possess.

But what exactly are parachains?

Parachains are integrated into the Kusama and Polkadot systems as distinct project-specific blockchains. When an individual wants to improve the security management and payment processing of a network, they can design a parachain to act as relay chains that can be fed into the primary blockchain. Typically, a parachain may also support its token too.

Kusama is a Polkadot-based rewarding testnet. Its parachain auctions were held between June to July 2021 and five winners were picked.

Moonriver was the winner of the second parachain slot bidding and received 205,935.0111 KSM in total from 5,977 crowdloan participants. Moonbeam’s other utility token, GLMR, will participate in Polkadot’s parachain slot auction in November 2021. Moonriver will make it simple for developers to integrate current apps with the Ethereum technology stack. Also, it will receive unlimited support and benefits from its connectivity to the Kusama network and will demand little to no changes.

Ecosystem, Technology, and Utility Moonriver goes much further than basic Ethereum Virtual Machine (EVM) connectivity. It offers the following advancements:

• Moonriver, like Moonbeam, makes it simpler to handle Solidity smart contracts by emulating Ethereum's native communication protocol, accounts, keys, subscriptions, logs, and other features. As a result, decentralized applications (dApps) that utilize Ethereum’s network to create business models are readily reproduced on Moonriver.

• By utilizing up-to-date account and security systems to allow easy verification without compromising security, Moonriver is safer and easier to access.

• Moonriver’s built-in plugins library is also a significant advantage. The library comprises network infrastructural providers which may boost the program's capability to build and deploy blockchain apps with speed.

• With Moonriver, you may use popular JavaScript libraries that enable programmers to interact with the Ethereum blockchain.

• Moonriver also makes it easy for crypto gamers, developers, and newcomers to trade as it allows the use of different essential utility tools.

• If you already have a contract, it will function immediately without the need to rewrite or alter it.

• Smart contracts can be written in Solidity or in any language that integrates with Solidity bytecode.

Other advancements include:

Crowdloan

The Moonbeam Foundation carried out a crowdloan campaign for the network to support the Moonriver parachain slot on Kusama. Here's a short rundown of some of the elements that go into a crowdloan: Parachain Auctions: Because there is a limited amount of parachain slots to be occupied, a method to select their utility and the duration of utility should exist. This may be accomplished by a basic candle auction, in which the highest bidder receives the spot. Each slot in a parachain possesses a defined lease duration and when the time is up, the slot may then be refreshed for another process to take its place. An advantage of this technique is that it compensates parachains with active utility. In addition, underactive parachains may not be allowed to request extra slots once the lease ends. Crowdloans: As it might be difficult for new businesses to create a community and attract respectable investors, the Parity team has devised a method for new enterprises to obtain the necessary backing through crowdloans. This feature, which may be called a loan, is a way to encourage projects through incentives like reward tokens. As a token holder, you can donate a certain amount of your tokens to a certain relay chain. But note that your donated tokens may be locked for a specified period as they will be used to settle the leasing of several parachain slots and reward active slots. After the lease ends you can get your locked tokens back.

MOVR Token Utility

Moonriver is a decentralized smart contract system and to run smoothly, it needs a constant supply of MOVR coins or tokens. This token is vital to Moonriver’s architecture and its removal or shortage may compromise the major working parts of the whole platform. On Moonriver, the MOVR token may be used for a variety of purposes, including:

• Rewarding collators and improving the dynamics of the computers (or nodes) that make up the structure of the network.

• Enhancing the systems that manage and enforce changes on the Moonriver blockchain such as choosing council members, initiating referendums, polling, and so on.

• Smart contract implementation gas metering is supported with MOVR tokens.

• Network transaction fees payment.

Project Metrics

Supply and distribution of tokens

Moonriver launched with a cumulative token quantity of 10 million MOVR and parts of this sum have been set aside to guarantee the position of the network’s parachain slot on the Kusama network. Also, as an aspect of the original crowdloan, a large piece of the network was evenly allocated. As a way to assist future protocol and manage infrastructures, the remainder will be allocated to Moonriver team members and kept by the Moonbeam Foundation.

The network's utility token is the MOVR token, often known as Moonriver, and here's a highlight of how it will be distributed:

• Community Initiatives and Parachain Slot Reserve: 40% • Parachain Crowdloan: 30% • Long-Term Network Stewardship & Adoption: 24.5% • Developer Adoption Program: 4.5% • Parachain Bond Reserve: 0.5% • Treasury: 0.5%

Tokenomics: Inflation and Fee Model

Moonriver possesses an unbounded token quantity as it aims for not more than a 5% yearly inflation rate. This inflation is used to fund the network's continuing security demands. The main security budget items include:

• Funding active parachain slots

• Motivating collators to perform collation (block creation) services to support the Moonriver network

One percent of the 5% inflation will go toward encouraging collators, while 1.5 percent will go to the parachain bond reserve, which will accrue on-chain money to continually pay for parachain slots. The 2.5% that is left will be distributed to token-holders who invested their MOVR token and contributed to the collator recruitment process.

Transaction and smart contract execution fees on Moonriver will be managed in two major ways:

• The burning of 80 percent of the spent fees works as a deflationary factor that adds value to existing token-holders based on greater network use.

• The remaining 20% of the spent fees will be allocated to the on-chain economy which may be distributed via on-chain management to programs and activities that promote network adoption and involvement.

**Market capitalisation **

Moonriver's price was 405.29 US dollars as of October 26, 2021, with a market cap of 860,301,527 dollars and the rank is #127. MVR has a 24-hour trading volume of around 32,356,826 USD. The price of the token had fallen by approximately 1.0% in the last 24 hours. It's also worth mentioning that Moonriver has a current circulating quantity of 2.1 million MOVR tokens and a potential lifetime supply of approximately 10.1 million. The currency's value has increased by 68.3% in a week; 0.3% in an hour.

Team and Strategic Investors PureStake established the Moonbeam and Moonriver networks, which are supported by the Moonbeam Foundation. These organizations collaborate to bring creator Derek Yoo's vision of a multi-chain economy to fruition. The team is tasked with expanding, strengthening, and advocating the Moonbeam network throughout the Polkadot ecosystem.

Other project backers include A195, Acala, Arrington XRP Capital, BGV, Coinbase Ventures, Coinfund, CryptoDiscover, D1 Ventures, Fenbushi Capital, Hashkey, IOSG, Karura, KR1, Moonboots Capital, Parafi Capital, Signum Capital.

Future of the Project

Moonriver is essentially a canary network for the Moonbeam network and an important aspect of the cryptocurrency market. It enables additional creativity by serving as a testing environment for potential Moonbeam codes while not interfering with actual operating versions. Moonriver also features a reward system, which adds value to the MOVR coin.

In that vein, the Moonriver crowdloan, which was backed by KuCoin, turned out a success. On August 27, 2021, KuCoin listed Moonriver (MOVR) and launched MOVR/USDT and MOVR/ETH trading pairings as a global premiere. And if you’re looking to invest, now is the perfect moment as it appears to be a decent long-term investment. By considering all the special features and latest innovations of Moonriver that enhance the value of the MOVR token, and given the position that Moonriver was able to hold since its introduction, it may appear to be worthwhile to invest.   References

Deri, O. (2021, July 27). The five Kusama parachain auction winners - who are they? Retrieved from Investingcube: https://www.investingcube.com/the-five-kusama-parachain-auction-winners-who-are-they/ KuCoin. (2021, October 25). What is MOVR and how does it work. Retrieved from Kucoin: https://www.kucoin.com/blog/en_US/what-is-movr-and-how-does-it-work-kucoin-crypto-gem-observer?utm_source=blognews

Moonbeam Team. (2021, October 25). Retrieved from Moonbeam Network: https://moonbeam.network/team/

Moonriver. (n.d.-a). Retrieved October 25, 2021, from Parachains: https://parachains.info/details/moonriver

Moonriver. (n.d.-b). Retrieved October 25, 2021, from Moonbeam Network: https://moonbeam.network/networks/moonriver/

Moonriver. (n.d.-c). Retrieved October 25, 2021, from Cypherhunter: https://www.cypherhunter.com/en/p/moonriver/

Moonriver (MOVR) Token. (n.d.). Retrieved October 25, 2021, from Moonbeam Foundation: https://moonbeam.foundation/moonriver-token/

Moonriver price, MOVR chart, market cap, and info. (n.d.). Retrieved October 26, 2021, from Coingecko: https://www.coingecko.com/en/coins/moonriver

Singh, M. (2021, September 13). Moonriver: Everything you need to know. Retrieved from Techstory: https://techstory.in/moonriver-everything-you-need-to-know/