Moon River Report by Jesse

This week has been a real rollercoaster for many in the market. With what was expected to be a grandiose endeavor for Bitcoin with El Salvador announcements. Unfortunately, just turned into just another FUDfest of media outlets chomping at the bit as Bitcoin fell to almost $40k on some exchanges. But, in the normal fashion of Bitcoin, this created an opportune buying time for anyone with a few chips set aside for the dip. Many projects did have a great week prior the Tuesday’s advancements and some even held strong through it all. With Fantom pulling a 100% return for holders, Quant and Solana maintained above 50% this week and held out fairly strong against the flash correction. After discussing some of the top Parachain Auction winners last week. This week we’ll be diving deeper into winner Moonriver and its role in the upcoming Polkadot ecosystem.

Introduction

Moonriver is a companion network to Moonbeam and provides a permanently incentivized canary network. All new code ships to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code ships to Moonbeam on Polkadot. So with that, we’ll be discussing Moonbeam a bit throughout as they’re essentially one and the same. Moonbeam is a developer-oriented blockchain that strives to provide compatibility with the existing Ethereum developer toolchain and network. It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonbeam to existing Ethereum networks. This allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Moonriver is the bridge that provides developers with the ability to test and