What is Moonriver (MOVR)?

Moonriver or MOVR (MOVR/USDT – trade it here) is a network created by Moonbeam. Moonriver is a sister parachain on Kusama. It aims to test new codes and verify it under real economic conditions. What’s more, Moonriver helps crypto projects to discover and to include new users in a multi-chain method. In this article, I will cover everything you need to know about Moonriver, plus an instruction on how to buy MOVR token.

Moonriver Network (MOVR) Logo
Moonriver Network (MOVR) Logo

About Moonriver Network

As a parachain to Kusama, the Moonriver network is set up with the intention of acting as a canary network for Moonbeam. In this technique, the newly written code is initially sent to Moonriver for testing and verification. After being validated, the same code is sent to Moonbeam on the Polkadot. By mimicking Ethereum’s Web3 Remote Procedure Call (RPC), accounts, keys, subscriptions, logs, and more, Moonriver hopes to reduce the adjustments necessary to run existing smart contracts on the network.

Without knowing the specifics of the network, one application can communicate with another program running on another computer using the RPC software communication protocol. Moonriver wants to create a complete Ethereum-like ecosystem and work with protocols and decentralized applications (dApps) that are accepted in the market.

What is MOVR Token

MOVR is Moonriver’s own utility token. This token is the core design of the project and here are some use cases of MOVR on the network:

  • Facilitating the execution of smart contracts with gas metering.
  • Rewarding collators, and the mechanics for building a decentralized node infrastructure on which the platform may run is being powered.
  • Supporting the on-chain governance process, including referenda, voting, and the selection of council members.
  • Paying for network transaction costs.

Genesis Token Allocation

The total supply of MOVR tokens at the time of the Moonriver network’s inception was 10 million. To guarantee that the network keeps a parachain slot on the Kusama network, the team set aside a percentage of the network tokens.d

MOVR Token Allocation (Source: Moonbeam Foundation)
MOVR Token Allocation (Source: Moonbeam Foundation)

As part of the initial crowdloan, a sizable chunk (30%) of the network allocated equally and without restriction. The Moonbeam Foundation holds the remaining balance and distributes it to teams using Moonriver to promote long-term protocol and network development. Lastly, it is worth mentioning that there is no “founders award” and the PureStake team creating Moonriver did not possess any tokens at network creation.

How to Buy MOVR Token

You can buy MOVR token on MEXC by the following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “MOVR” using the search bar to see the available trading pairs. Take MOVR/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of token you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy MOVR] to confirm your order. You will find the purchased tokens in your Spot Wallet.

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