Moonbeam network which works on the Polkadot blockchain for various DeFi and the wallet apps, have decided to launch the smart contracts platform named Moonriver on the Kusama network.
Moonriver has tweeted the update of the smart contract going live on the mainnet.
Moonriver had organized the crowdloan applications before the launch of the smart contract platform. And after going live they are going to prioritize the reward distribution to the early supporters. Platform is also going to be releasing the MOVR tokens. These tokens can be used to stake or lend and be used even in the liquidity providers payout. Token balance transfers to the wallet and governance will be handled by the platform once the platform begins it's process.
Having smart contract platform on your blockchain is always a good thing. I was not surprised at how the Moonbeam team worked to get it done and deployed on Kusama. In todays age any coin that does not have smart contracts and a way to bridge with other coins is going to miss out on the future.
Hopefully this would bring more financial companies, analytics, governance and the instrument companies to the blockchain network and helps market and dApps make better choices on the blockchain as far as the financial smart contracts and the work is concerned.
