What is the issuance and circulation of MOVR coins?

The Moonriver Network, a smart contract platform on Polkadot, utilizes its MOVR token for staking, governance, and transaction fees; with a total supply of 10 billion tokens, 66% were distributed through crowd sales in 2021, and as of January 2023, over 5 billion MOVR tokens are in circulation.

Nov 01, 2024 at 06:34 pm

1. Issuance of MOVR Coins

The Moonriver Network (MOVR) is a smart contract platform built on the Polkadot blockchain. The MOVR token is the native utility token of the Moonriver Network. The MOVR token is used for various purposes within the Moonriver ecosystem, including:

Staking: MOVR token holders can stake their tokens to help secure the Moonriver network and earn rewards.
Governance: MOVR token holders can participate in the governance of the Moonriver Network, including voting on proposed changes to the protocol.
Transaction fees: MOVR tokens are used to pay for transaction fees on the Moonriver Network.

The total supply of MOVR tokens is 10,000,000,000. Of this amount, 66% was distributed through a series of crowd sales in June 2021. The remaining 34% of MOVR tokens is reserved for the Moonriver Foundation, ecosystem development, and future issuance.

2. Circulation of MOVR Coins

As of January 2023, approximately 5,189,084,128 MOVR tokens are in circulation. The remaining MOVR tokens are held by the Moonriver Foundation, ecosystem development teams, and early investors.

The circulation of MOVR tokens is expected to increase gradually over time as the Moonriver Network grows and more tokens are distributed through staking rewards and other mechanisms.

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