Moonbeam is making it happen. The platform announced that its Ethereum-compatible smart contract platform on Polkadot, called Moonriver, is now live. With the added balance transfers and EVM functionality the network is just getting stronger.
Let’s be honest about this – there is nothing like new connections on one of the most promising platforms out there.
According to the devs, Moonriver is the first EVM-compatible parachain on Kusama, and now the real fun can begin.
There are loads of dApps that are ready to be deployed on to Moonriver network, and with this move, loads of new options will be out there for crypto users.
Moonriver is Happening Now
As a decentralized ecosystem, the new upgrades to Moonriver were a result of a consensus on the network. The motions that passed allow a tremendous amount of new functions, and the world is ready for the upgrade!
According to a post from Moonbeam, there are loads of new features (info from platform):
Moonriver is the First Fully-Functioning EVM Deployment to Kusama
The Moonriver parachain now includes the first functional EVM deployed to the Kusama network, including its comprehensive Ethereum compatibility.
Balance Transfer Enablement
Now MOVR tokens can be freely moved between addresses. While the Moonriver experience should be quite similar to the experience on Ethereum, there are several new tools to help all token holders get set up:
- How to connect MetaMask to Moonriver in order to use Moonriver ecosystem DApps
- How to nominate a collator on Moonriver
- How to redeem MOVR rewards that have vested from the crowdloan
Crowdloan Reward Distribution
Moonriver’s launch was enabled by a community-focused crowdloan hosted by the Moonbeam Foundation, which received over 200,000 KSM from thousands of contributors across the globe.
Collator Staking & New Staking App
MOVR token holders can now nominate and stake directly with collators on Moonriver. The network’s custom parachain staking pallet was designed to simplify the nomination process and reduce the risk of collators front-running transactions.
Governance & Voting
With balance transfers enabled, Moonriver will be governed by token holders using the on-chain governance system. Users can vote on referenda directly through the Polkadot.js web application, with additional interfaces on the way. For more information about governance and voting visit our documentation site.
Liquidity Programs to Come
The Moonbeam Foundation has allocated 10% of the total genesis supply of MOVR to incentivize liquidity programs on Moonriver in the first year.
DeFi Doesn’t Play
First the road has to be built – then the masses can drive on it.
We all know that changes are needed. Not wanted – but needed. There is no reason why a handful of people should be able to control access to data, but that is the case at the moment.
To call the current system inefficient would be a massive understatement.
We need better systems that put people first – and that is what this upgrade Moonriver is making a reality.
A multi-chain reality is here, and Moonbeam is making devs ever more powerful in the decentralized world.
Moonbeam Makes Connections Happen
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network – which makes it an extremely powerful environment for devs and users alike. Moonbeam is creating a data infrastructure that is open to anyone – and can make powerful connections happen.
To learn more about the platform – and how you can get involved – just click here!
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