What is MOVR coin? What can MOVR coins do? How to store MOVR coins?

With its EVM compatibility, the MOVR coin allows seamless deployment and execution of Solidity smart contracts and Ethereum-based applications on the Moonriver Network.

Nov 04, 2024 at 05:49 am

What is MOVR Coin?

MOVR coin, the native cryptocurrency of the Moonriver Network, is based on the Substrate blockchain framework. It serves as a governance token, transaction fee payment medium, and staking asset. With its EVM compatibility, MOVR enables developers to seamlessly deploy Solidity smart contracts and Ethereum-based dApps on the Moonriver Network.

What Can MOVR Coins Do?

Governance: MOVR token holders have the right to propose and vote on changes to the Moonriver Network's protocol.
Transaction Fees: Users pay MOVR coins for transaction fees on the Moonriver Network.
Staking: Token holders can stake MOVR coins to earn rewards and contribute to the security of the network.
Access to DeFi Platforms: MOVR is used to access and interact with various decentralized applications (dApps) on Moonriver, including DEXs, lending platforms, and yield farming protocols.

How to Store MOVR Coins

Hardware Wallets: MOVR coins can be stored on hardware wallets such as Ledger or Trezor for enhanced security.
Software Wallets: A number of software wallets, including MetaMask and Coinbase Wallet, support MOVR coin storage.
Centralized Exchanges: MOVR can be held on reputable centralized exchanges that offer trading and custodial services, such as Binance or FTX.

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