Moonbeam is a smart contract platform on the Polkadot network. It makes it easy to create initially compatible applications. Existing smart contract platforms are designed to serve users and assets on one, specific blockchain. By providing smart contract functionality across networks, Moonbeam enables developers to migrate existing workloads and logic to Moonbeam and extend the reach of their applications to new users and assets in other blockchains.

Crowdloan Distribution of Rewards

Moonriver was launched thanks to a community-focused crowdfunding initiative organized by the Moonbeam Foundation. Participants earned MOVR tokens for their support, which they can now use to interact with the network and use built-in features.

From the beginning, the Moonriver crowdloan was designed to maximize rewards and ensure early community engagement that helped launch the network. This community-driven approach was backed by a significant rewards pool of 30% of genesis network tokens. A second management movement distributed the first 30% of the prize pool directly to participants. Since the Moonriver rental began on June 29, 2021, there is also an additional ~12% of the prize pool available and accessible through the Moonriver rewards app.

Moonriver now includes the first fully functional EVM deployed on the Kusama network, including its comprehensive compatibility with Ethereum. This compatibility includes a single Moonriver account structure, RPC Web3 and pre-compilations (unmatched compatibility with Ethereum tools and integrations) and, of course, dozens of projects and applications that plan to expand to Moonriver in the coming weeks.

Future Liquidity Programs

The Moonbeam Foundation has allocated 10% of the total MOVR genesis supply to incentivize liquidity programs on Moonriver in the first year. This allocation will help kick-start activities in the Moonriver ecosystem and demonstrate the foundation’s commitment to the success of building and deploying teams in the Moonriver network.

The Moonbeam team will continue to closely monitor the Moonriver launch to ensure stability and security. Sign up for the newsletter or follow Moonriver on Twitter for the latest updates and information about projects being deployed on Moonriver parachain.

Moonriver is live

Moonriver was launched on August 26. At the end of the final phase of the launch process, the balance transfer and EVM functions have been enabled and the network is fully operational. Moonriver is the first EVM-compatible parachute on Kusama and the only blockchain to run smoothly thanks to full Ethereum compatibility. At this point, more than 60 design and integration teams in the Moonbeam ecosystem can begin deploying their smart contracts and applications on the Moonriver network without any approvals.

Two proposals were approved by management: the first-including a runtime environment upgrade to enable balance translation and EVM, and the second-distributing rewards to crowdloan participants who helped launch the network as a parachute on Kusama. All users and token holders now have access to the full functionality of Moonriver, including token transfers, assigning collectors, receiving bid rewards, and voting in referendums.

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