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Power of community: Moonriver receives over 200,000 KSM ahead of Kusama launch

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Demonstrating the strength of a community-led approach, the Moonriver Smart Contract Platform has successfully secured a slot in the second round of Kusama parachain slot auctions last week.

Crowdloan via Kusama

The Moonbeam team proudly shared an official announcement via Twitter, stating that they are building the multi-chain future together.

Moonriver’s launch was enabled by a community-focused crowd loan hosted by the Moonbeam Foundation, which received 205,935.0111 KSM from 5,977 contributors across the globe. Contributors earned MOVR tokens for their support, which they can now use to engage with the network, and use built-in functionality.

Moonriver makes it easy to use ETH developer tools, allowing developers and projects to build and redeploy Solidity projects in a Substrate-based infrastructure.

As a result, it is shaping the future of parachains and allowing for a straightforward transition from an ETH environment to Kusama while guaranteeing minimal reconfigurations. 

It is the only blockchain that can deliver a seamless experience through full ETH compatibility. Now over 60 projects in the Moonbeam ecosystem can start deploying their smart contracts and dApps to the Moonriver network in a permissionless fashion.

Moonriver 101

Moonriver is designed to allow developers to test their code for potential vulnerabilities before deploying on Polkadot. Moonbeam code will be launched to Moonriver first, but the network will continue to operate as a parachain on Kusama with its own projects and specialized use cases., thus establishing itself as an independent network. 

The platform is also developing an embedded integration for all ERC20 and Kusama tokens alongside bridges to connect to other networks like BTC. 

Following this successful auction outcome, Moonriver is implementing a five-phase launch process on the Kusama network. The multi-chain world has arrived, now what are we going to create with it?

The post Power of community: Moonriver receives over 200,000 KSM ahead of Kusama launch appeared first on CryptoSlate.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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