Moonriver (MOVR) is the utility token of the Moonriver Network, a decentralized smart contract platform. The MOVR token is used to keep the Moonriver platform running, and it plays a crucial role in rewarding nodes, supporting governance, transaction payouts, and other vital activities.
What is Moonriver (MOVR)? Brief Summary
Moonriver is a Kusama-based Ethereum-compatible smart contract para chain. It’s meant to be a companion network to Moonbeam, providing a canary network that’s always encouraged. The new code will be first sent to Moonriver, where it will be tested and confirmed under real-world economic conditions. The identical code will be sent to Moonbeam on Polkadot after being confirmed.
Moonriver does this by offering a complete EVM implementation, a Web3-compatible API, and bridges to existing Ethereum networks. This enables developers to easily migrate existing Solidity intelligent contracts and DApp frontends to Moonriver.
Unique Characteristics of Moonriver (MOVR)
On the network, a minimum of five MOVR tokens can be staked. The prize payment period is divided into two rounds, each with 300 blocks, and takes around an hour to finish.
Collators provide evidence for relaying the validation process by creating blocks and collecting transactions from users. MOVR token holders who HODL and stake their tokens on the Moonriver network and vouch for collators of their choice are known as nominators. The benefits are split between the collators and the nominators.
The incentives for the collator are set at a rate of 20% yearly inflation. Meanwhile, nominators get varied benefits based on the number of tokens put in the Nominators reward pool.
Holders of MOVR have control over the Moonriver network. They can submit ideas, convene referendums, set the launch dates for public referendums, fast-track voting periods, set lock and cool-off periods, and assign voting authority to other accounts.
A communal treasury will be established to enable the governing council’s approved ideas. It is supported by a predetermined percentage of the network’s transaction fees. The distinctive aspect of this functionality is that every Moonbeam-based network will have its customized treasury, allowing for faster management and allocation of cash to governance council-approved initiatives.
Start Investing in Moonriver (MOVR)
To start trading and investing in MOVR and other cryptocurrencies, you must first register a reliable cryptocurrency exchange account. A cryptocurrency exchange in India is a brokerage where MOVR and other cryptocurrencies may be traded.
If you’re new to cryptocurrency trading, BuyUcoin is a great place to start. BuyUcoin is a secure cryptocurrency exchange with over 150 cryptocurrencies to buy, sell, and trade.
You may also buy MOVR Coin at BuyUcoin by linking your debit or credit card to your account using the Mobikwik Payment Gateway (we offer VISA, Rupay, and Mastercard).
What Is The Best Time To Invest in Moonriver (MOVR)?
The adverse market began at the end of September’s first week, when Bitcoin dropped, dragging the whole crypto market down with it. The MOVR token, on the other hand, seems unaffected, reaching an all-time high of $448.50 just two days ago.
Although the MOVR token’s price has taken a brief setback, it is still displaying positive indicators and might explode at any time.
Market analysts are betting that Moonriver price would rise due to Chainlink Price Feeds being live on main net since the integration unlocks important features like lending, borrowing, and complex trading applications. — cryptonews
Why Invest in Moonriver (MOVR)?
One up-and-coming initiative is rapidly on the radar of cryptocurrency investors looking for the next big coin. Moonriver (MOVR) has a market capitalization of $882 million and has experienced a 350% increase in price since the network launched in August.
Moonriver, an Ethereum-compatible smart contract platform, is now available on major cryptocurrency exchanges such as BuyUcoin, while investors wait for further catalysts to drive further rises.
It is used to execute a wide range of tasks. Among them are the following:
- Providing an incentive to collators and promoting the construction of the Moonriver network’s decentralized node architecture;
- Payment of transaction fees and other Moonriver network operations;
- Providing an on-chain governance framework that allows users to vote on council members and propose network modifications;
- Streamlining the smart contract execution’s gas metering function
Is Moonriver (MOVR) A Good Investment in 2021?
The price of Moonriver is currently $302.76, with a 24-hour trading volume of $45,969,821. Moonriver has gained 4.49% in the last 24 hours. CoinMarketCap is presently ranked #132 with a live market cap of $746,941,307. With a maximum supply of 10,000,000 MOVR coins, there are now 2,467,098 MOVR coins in circulation.
Moonriver appears to be a decent long-term investment in terms of investment, given that it is primarily for Moonbeam’s objectives.
Still, it is a crucial aspect of the ecosystem in any event. It also allows for greater creativity than ever before, serving as a trial ground for Moonbeam initiatives.
Parachain of Polkadot smart contracts Moonbeam has announced the native integration of Chainlink Price Feeds on Moonriver, a watershed moment for Kusama ecosystem initiatives.
It adds value to the token because of all of its bonuses and support, and given the position Moonriver has managed to retain since its introduction, it appears to be worth investing in.
Conclusion
Moonriver is intended to be a companion network to Moonbeam, offering an always-encouraged canary network. It includes a full EVM implementation, a Web3-compatible API, and Ethereum network bridges. The new code will be submitted to Moonriver first, where it will be tested and validated in real-world economic scenarios.
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