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Moonriver Crowdloan Rewards Distribution is Complete and KSM is Unlocked

May 15, 2022

2 min read

The Moonbeam Foundation is pleased to share that the Moonriver Crowdloan rewards have been distributed in full. This coincides with the completion of the parachain slot for lease period 13-20 that was obtained through the crowdloan, which ended on May 15, 2022 at approximately 10:30pm UTC.

The KSM contributed by crowdloan participants has been unlocked, which means it is now available to use and transfer. While typically these tokens require “claiming,” the Moonbeam Foundation has taken the proactive steps of issuing a batch claim transaction on behalf of those who contributed to the Moonriver crowdloan, effectively sending back crowdloaned KSM to the contributing address. These tokens should be visible in the KSM wallet or exchange you originally used to contribute to the crowdloan. Note that this transaction will unlock only the KSM contributed to the Moonriver crowdloan; you may need to take additional steps if you contributed to other crowdloans.

The KSM for the first five winning crowdloans was unlocked simultaneously, totalling 1.1 million KSM, or roughly 10% of the total supply of KSM. Since many parachains are now fully launched, there are many options for using and staking this KSM within the Kusama ecosystem. For a greater explanation of the options and what “The Big Unlock” means for you, refer to this recent blog.

If you are unsure of your original contribution or want to verify that the amount has been returned to you in total, refer to your original contribution transaction that was recorded in Subscan. To confirm your original contribution amount, enter the KSM address you used to contribute and navigate to the “Crowdloan” tab. The Moonriver crowdloan ID was 2023. You will be able to see the amount of your contribution here under “Total.”

The 2021 Moonriver Crowdloan notably rewarded participants with 3,000,000 MOVR tokens, which represents 30% of the genesis supply of the network. It successfully obtained a slot for Moonriver in June 2021. Now that the rewards have been distributed in full, this significant portion of the token supply is directly in the hands of community members. Additional tokens have been distributed to the community in the form of development grants. More information about the current state of tokenomics can be found on the MOVR transparency page.

The Moonbeam Foundation secured a second slot for Moonriver in March, and the swap to this new slot was completed earlier this week with no downtime or impact to users. There was no need for an additional crowdloan since the slot was self-funded, which means existing MOVR reserves can be used for initiatives that help increase activity and adoption on Moonriver, including grants and developer support.