Wrapped Moonriver

Overview

Wrapped Moonriver (WMOVR) is the wrapped version of the native MOVR token on the Moonriver Network, which is a companion network to Kusama. WMOVR follows the ERC-20 standard, making it compatible with Ethereum-based DeFi protocols while maintaining a 1:1 peg with MOVR.

Purpose and Utility

The primary purpose of WMOVR is to enable MOVR holders to participate in Ethereum-compatible DeFi protocols on the Moonriver network. When users wrap their MOVR tokens, they receive an equal amount of WMOVR, which can be used for various protocol interactions while maintaining the underlying value of MOVR.

Business Model

The wrapping mechanism is transparent and straightforward: users deposit MOVR and receive WMOVR at a 1:1 ratio. This process is reversible at any time. The token serves purely as a technical bridge to enable broader DeFi functionality.

Platform Activity

Moonriver's ecosystem shows active development and usage, with WMOVR serving as an important infrastructure component for DeFi applications on the network. The wrapping process is automated through smart contracts, ensuring transparency and security.

Token Distribution

WMOVR's supply is directly tied to the amount of MOVR tokens that users choose to wrap. There is no separate token distribution or allocation to founders, as WMOVR is simply a wrapped version of the existing MOVR token.