Moonriver
About Moonriver
The price of Moonriver (MOVR) is $8.85 today, as of Sep 09 06:35 a.m., with a 24-hour trading volume of $3.97M. Over the last 24 hours, the price has increased by 0.79%. Moonriver currently has a circulating supply of 9.11M and a market cap of $80.54M.
Moonriver (MOVR) is the native token of a parachain with the same name on Kusama. The parachain is the proving ground for smart contracts before they are implemented on Moonbeam, a smart contract platform based on the Polkadot blockchain and Moonriver’s sister project.
MOVR went live in August 2021. Its price rose sharply after that from about $73 to a high of about $494 in September of that year. The price dipped to $239 by mid-October 2021, and then rose to $443 in November 2021. It subsequently crashed, falling to below $100 by February 2022.
Moonriver’s sister token, Moonbeam (GLMR), collapsed in value after launching at the start of 2022, falling from $15 per token to about $2 by May 2022.
Moonriver started with a supply of 10 million tokens, with 30% issued as part of a crowd loan – similar to a token sale. The rest is being used to incentivize the network’s growth.
MOVR is an inflationary token without a maximum supply. The project aims to increase the supply by 5% a year. The tokens added through an inflationary mechanism will be reinvested in the protocol for such uses as renting a parachain slot on the Kusama network and paying rewards to stakers.
Whenever a transaction is executed on Moonriver, 80% of the fees are burned – permanently removed from circulation by being sent to a wallet that nobody controls – and 20% are sent to Moonriver’s treasury.