A Fully Ethereum-Compatible Environment on Polkadot
Moonbeam is a smart contract parachain on the Polkadot network that is compatible with Ethereum. It provides an environment for developers to create dApps that work on multiple chains especially on the Ethereum network and Polkadot. Developers do not need to rewrite any smart contracts since the contracts will still operate on Moonbeam. It also adds support to familiar smart contract languages such as Solidity and Vyper, and it also integrates assets DOT and ERC-20. Moonriver is a companion network to Moonbeam and acts as a testbed before Moonbeam is launched on Polkadot. It is a parachain on Kusama. After Moonriver is proven to be successful, Moonbeam will be launched on Polkadot.
Moonriver token (MOVR) is the utility token that will power Moonriver network. It will be used for transaction fees, incentives, smart contract gas metering and on-chain governance. There is no hard cap on MOVR, however there is a fixed inflation rate of 5%. There was an initial supply of 10 million MOVR. 80 percent of the transaction fees will be burned while the remaining 20% will be deposited into the treasury.