- The network’s Kusama deployment will be called Moonriver and have its own utility token also called Moonriver (MOVR).
- Supply and other token economic behaviors on Moonriver will be the same as Moonbeam, but token distribution will be different in order to support the unique goals and attributes of the network.
- Moonriver will serve as a “CanaryNet” for Moonbeam, but it will also be a community-led experiment where the community will decide the direction it takes.
- Among other things, Moonriver will use a large parachain crowdloan to obtain its initial parachain slot on Kusama.
- As the Moonriver network is still under development, some information may change before the public launch of the network.
- Deployment Network- Moonriver
- Relay Chain- Kusama
- Token Name- Moonriver (MOVR)
- Anticipated Launch- Q2 2021
- Small Unit- Sediment (10¹⁸ Sed = 1 MOVR)
- Genesis Token Supply- 10 Million
- Annual Inflation Rate- 5% Uncapped Supply
- Transaction Fees- 80% Burned / 20% to Treasury
MOVR Token Utility
- As a decentralized smart contract platform, Moonriver requires the MOVR token to function.
- This token is central to the design of Moonriver and cannot be removed without sacrificing essential functionality.
Some Of The Uses Of The MOVR Token On Moonriver Include:
- Supporting the gas metering of smart contract execution.
- Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run.
- Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc.
- Paying for transaction fees on the network.
Genesis Token Allocation
- When the Moonriver network launches, the total supply of MOVR tokens will be 10 million.
- A portion of the network tokens have been reserved to ensure the network secures and maintains a parachain slot on the Kusama network.
- A significant portion of the network (30%) will be fairly and permissionlessly distributed as part of the initial crowdloan.
- The remaining balance will be distributed to teams building on Moonriver and held by the Moonbeam Foundation to support long-term protocol and network development.
- Notably, there is no “founders reward” and the PureStake team developing Moonriver will not own any of the tokens at network genesis.
Details For The Crowdloan Have Been Announced
- A crowdloan is a way for new projects to garner the support they need to connect to the Kusama network as a parachain.
- This functionality really isn’t a ‘loan’ so much as a way to support a project in exchange for a reward, usually in the form of the project’s tokens.
- In most cases, those contributions will pay for the parachain slot lease and generate rewards in the parachain’s native token.
- When the parachain lease expires, the locked KSM are returned to the user.
See The Link Below To The Crowdloan Page:
Moonriver Crowdloan on Kusama
The Moonriver crowdloan is a way for community members to support the project as it launches as a parachain on Kusama.