What is Moonriver?

About Moonriver

The Moonriver is a smart contract platform extracted from its sister network called “Moonbeam’. This platform is found to be fully compatible with Ethereum and can deploy all of its tools to develop solidity projects in a Substrate-based environment. An easier transition can be made from Ethereum to Kusama environment for solidity projects and these include the following;

  • Languages
  • Use of existing tools and front-ends
  • Unified addresses, signatures, and accounts
  • Subscribe-Publish capabilities

Expectations from Moonriver

The initial purpose of Moonriver is to serve as a “CanaryNet” that will make an alarming system in coal mines for any potential issue. It will work through the integration of the user’s code with the Moonriver that will test the authenticity of the code for future manipulation scenarios. As we can see that nearly 30% of the token supply will be distributed among the community through an initial crowdloan. This aspect has shown that most of the tokens will be in the hands of the community.

Moonriver Crowdloan

A crowdloan campaign has been established to run to fund the Moonriver parachain slot on behalf of the Moonbeam network. Some of the components involved in the process of crowdloan have been assessed and provided below;

  • Nearly 30% of the Moonriver network tokens will be rewarded to the contributors.
  • 30% of the rewards will be available immediately to claim while the rest of 70% will be vesting throughout lease.
  • Contributions will be made through the Moonriver crowdloan DApp.

Contributions towards crowdloans

It has been stated that once the Kusama will initiate the auction process, the Moonriver will open its crowdloans to contributions. An individual can make KSM contributions to the crowdloan through utilizing the DApp or through direct participation. The Kusama has also provided some instructions for proper participation which are given below:

Rewards

Moonriver has set nearly 3 millioObtaining a transferable KSM

  • The remaining 70% of rewards will vest over the lease duration.

References:

https://medium.com/moonbeam-network/about-moonriver-the-kusama-implementation-of-moonbeam-a626cf679988