Tag: MOVR Token

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The Moonriver crypto ecosystem is the largest and most active decentralized finance (DeFi) ecosystem on the Kusama parachain. Providing a canary network for the upcoming Polkadot Moonbeam network, Moonriver is an Ethereum-compatible smart contract development environment. Further, the project facilitates seamless interoperability with existing applications on the Kusama parachain, external blockchains, plus its companion Moonbeam network. This is thanks to Moonriver smart contracts offering extensive Ethereum development tools. Also, the native Moonriver token (MOVR) is paramount to the smooth-running operations and functions of the Moonriver crypto ecosystem. The MOVR token holds several key responsibilities offering holders the chance to participate in securing and governing the network. 

Moonbeam is a Polkadot-based smart contract-enabled parachain offering seamless Ethereum compatibility and interoperability. As a decentralized protocol, Moonbeam operates through the native Glimmer token (GLMR). As a multi-utility token, GLMR token holders can secure or contribute to the network. Also, as Moonbeam is yet to launch its mainnet services, developers can use its sister network, Moonriver. Operating live on Kusama, developers can experience the services through Moonriver, soon to be available on the Moonbeam mainnet. Moonriver smart contracts and the native Moonriver token (MOVR) tokenomic structure operate very similarly to Moonbeam. But, what is Moonbeam doing to offer such competitive Ethereum interoperability services?