It’s ICO Season! Make Room for The Moonriver Crowdloan Campaign
The Moonbeam, Moonriver crowd loan campaigns are in the works and could be finalized any time now. The crypto scene is abuzz with excitement as early adopters look forward to 10x, 20x, or 100x returns from these tokens. Moonbeam is going to power Polkadot contacts, while Moonriver will run Kusama contracts.
The Moonriver crowd loan will precede the upcoming Moonriver network mainnet launch. The Moonriver smart contract platform is a community-led, fully Ethereum-compatible parachain that will offer an easy on-ramp for building and launching applications on Kusama.
The parachain platform will have access to all the latest features, code, and integrations. The MOVR token is inflationary with an annual uncapped supply inflation rate of 5%. MOVR has a token supply of 10 million tokens.
Kusama and Polkadot share a large portion of their code, but they are independent and have different priorities. Kusama is fast and is the perfect experimentation network. Polkadot is not as wild but is a sound, conservative, sharded design multichain network.
Kusama is not only four times faster than Polkadot but is artsy and censorship-resistant. Moreover, it has real economic incentives, working as a launching pad for parachains. Here, developers can conduct upgrades and freely test network effects.
Moonriver will make it much easier to launch parachains on Kusama. In addition, it will bring to Kusama a robust NFT, DeFi, and dApp ecosystem. To fund the Moonriver parachain launch on Kusama, the Moonbeam Foundation is running a crowd loan campaign.
Crowdloans are a new feature that helps new developers get the support they need to launch their projects. They eliminate the hassle of seeking out funding sources. This feature is not a loan in itself but simply a way to support the project in return for a reward which is usually in the form of the project’s native tokens.
Participants will start contributing to the crowd loan once Kusama announces the start of the auction. Users will be able to contribute their KSM to the crowd loan through a DApp, which is still underdeveloped and expected to be integrated into the website. Users can also contribute through participating centralized exchanges as well.