Greetings readers! We have yet another gem to reveal for you here from the The Crypto Lifestyle team. We’ve spoken about parachains and crowdloans for Kusama and you know we are extremely bullish on the entire ecosystem of Polkadot but keep your eyes peeled and your wallets ready for this new crowdloan to be announced…
Introducing Moonriver Network!
Moonriver is a community-driven Ethereum compatible sister network to Moonbeam and will provide a permanently incentivized “canary network” where new code will ship to first for testing and scalability of Moonbeam. Similar to Polkadots CanaryNet”, Kusama. Moonriver will act as such to Moonbeam. The network is expected to evolve and grow to support multiple use cases that may differ from those on Moonbeam. Early and experimental Code will be released to test the latest builds and features of Moonbeam in a live, incentivized CanaryNet environment that’s connected to Kusama and then eventually all to Polkadot network of course.
To speak of Moonriver, we have to speak of Moonbeam. Moonbeam is not your average EVM implementation or Ethereum Layer 2 Solution: it’s a highly specialized Layer 1.5 chain that mirrors Ethereum’s Web3RPC , accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.
Layer 2 options were solutions of the past. Today, the focus is figuring out how the ETHEREUM dev community is expected to migrate on the DOT system and actually utilize their scaling features. This is what MoonBeam’s spot light is aimed at. This will allow you to transfer your smart contracts from ETH network to many other chains, no longer will you be locked on one network. They’ve launched live recently and named the protocol MoonRiver. -The BlockRunner
Launchpad for Ethereum-Based Projects
Launchpads for Ethereum based projects will be available soon on test net. A new and easy way for developers to deploy existing applications using the Ethereum tech stack — with little or no modifications — and gain access to the Kusama network.
Moonbeam Glimmer and Moonriver MOVR token
The network’s Kusama deployment token will be called MOVR. As opposed to MOONBEAM’s GLIMMER, which will be launched on Polkdot in the near future. Try and imagine DOT and KSM where as, even the test grounds for the main project’s tokenomics are available as well. As if you were using the same protocol. It has it’s own utility as well. Check more nuanced details of the tokenomics of each Glimmer and Moonriver here.
As you know, crowdloans are a way for projects to fundraise for a PARACHAIN slot on the Kusama Network. The time has come. On the Moonbeam foundations website, you can see their roadmap has reached a stop. Q2 2021 Launch of the moonriver CanaryNet on Kusama and notice how quickly Moonbeam itself will actually launch on Polkadot mainnet!
Similar to PLASM and KARURA Crowdloans on Kusama the process will be similar in terms of locking up your KSM or your DOT to support the project. After a period of time, the project will return those locked tokens back to the initial investors AND airdrop said tokens as well-In this case, Moonriver token or MOVR.
Community members will own a significant portion of MOVR tokens, giving them considerable control over the direction of the network. No early backers or founders will receive tokens. There are no special token allocations or carve-outs for the founding team or early backers, resulting in a unique Moonriver token distribution.
Want to learn more about the locking up process? Let Francis, TCL himself explain himself!
We’ll show you that the best features of these projects are yet to come. As soon as the flood gates open for Kusama and Polkadot there is no stopping this gem. You know we will keep you covered here on The Crypto Lifestyle
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