What is Moonriver (RIVER) | What is Moonriver token | What is RIVER token

In this article, we’ll discuss information about the Moonriver project and RIVER token

What Is Moonriver (Moonriver)?

Moonriver is a smart-contract blockchain on Kusama that strives to provide compatibility with the existing Ethereum developer toolchain and network. It is intended to be a companion network to Moonbeam, where it will provide a permanently incentivized canary network. New code will ship to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code will ship to Moonriver on Polkadot.

It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonriver to existing Ethereum networks.

This allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonriver with minimal changes.

What is River (RIVER)?

As a decentralized smart contract platform, Moonriver requires a utility token to function. River is central to the design of Moonriver and cannot be removed without sacrificing essential functionality. The Moonriver token uses include:

• Supporting the gas metering of smart contract execution
• Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
• Facilitating the on-chain governance mechanism, including proposing referenda, electing council members, voting, etc.
• Paying for network transaction fees

Moonriver tools and integrations include:

• Ethereum developer tools such as Metamask, Remix IDE, web3.js, Ethers.js, Truffle and other toolkits such as Polkadot.js apps
• Oracle integrations such as Chainlink, Band Protocol, Razor, and DIA Protocol
• API & Infrastructure integrations: Onfinality, Covalent
• Wallets: Mathwallet, Polkadot.js, Metamask, AirGap
• Partnerships with other Polkadot chains: Acala, Polkadot’s relay chain, Equilibrium, Kilt, Phala, Crust
• Bridges: Chainbridge, Ren_, Interlay_, Snowfork_, Axelar_
• Block explorers - Subscan, Polkadot.js, Blockscout*
• DeFi Protocols: Balancer, SushiSwap, Offshift, IDEX, Linear Finance, Injective Protocol
• Assets & Issuance Partners: Ocean Protocol, AllianceBlock, AMPnet, Poolz, Polkastarter and Kilt
• DApps: Human Protocol, Polkacover, BePro

River Token

The Utility Token of the Moonriver Network

As a decentralized smart contract platform, Moonriver requires the River token to function.

Some of the uses of the River token on Moonriver include:

• Supporting the gas metering of smart contract execution

• Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run

• Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc

• Paying for transaction fees on the network

• There will be a total supply of 10 million RIVER tokens once the Moonriver Network launches with a yearly inflation rate of 5%.

Deployment Network: Moonriver

Relay Chain: Kusama

Token Name: River (RIVER)

Anticipated Launch: Q2 2021

Small Unit: Sediment (10^18 Sed = 1 RIVER)

Genesis Token Supply: 10 Million

Annual Inflation Rate: 5% Uncapped Supply

Transaction Fees: 80% Burned / 20% to Treasury

River Token Utility

As a decentralized smart contract platform, Moonriver requires the River token to function. This token is central to the design of Moonriver and cannot be removed without sacrificing essential functionality.

Some of the uses of the River token on Moonriver include:

• Supporting the gas metering of smart contract execution
• Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
• Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc
• Paying for transaction fees on the network

How and Where to Buy Moonriver (RIVER)?

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase RIVER from the exchange: …

Source : https://www.youtube.com/watch?v=ovZbZiRv00o

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once RIVER gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
 ☞ https://www.bittrex.com
 ☞ https://www.poloniex.com
 ☞ https://www.bitfinex.com
 ☞ https://www.huobi.com

Find more information RIVER

☞ Website ☞ Explorer ☞ Explorer 2 ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Social Channel 4 ☞ Message Board ☞ Documentation ☞ Coinmarketcap

🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you’re a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don’t forget to leave a like, comment and sharing it with others. Thank you!

#blockchain #bitcoin #river #moonriver