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Moonriver Crowdloan Rewards Initial Distribution

Aug 26, 2021

2 min read

Today, motion #21 passed Moonriver governance, authorizing the initial distribution of crowdloan rewards to those who contributed. The Moonbeam Foundation remains incredibly grateful to the thousands of individuals who helped bootstrap and launch the Moonriver network as a parachain on Kusama.

30% of Crowdloan Rewards Pool Available Immediately

This initial distribution includes the 30% of MOVR rewards (900,000 of the 3,000,000 rewards pool) due to contributors immediately. These funds have already been distributed to the MOVR/ETH addresses provided during the crowdloan contribution process. There is nothing you need to do to receive the funds, but you may need to ensure your wallet is configured to the Moonriver network in order to see that balance. You can also confirm receipt of these tokens via Subscan.

How to configure MetaMask for the Moonriver RPC.

Vested MOVR Rewards Available to Claim

The remaining 70% (2,100,000 of the 3,000,000 rewards pool) is vesting linearly over the 48 week lease period. Since the lease period began on June 29, 2021, there are already more than eight weeks of vested MOVR tokens that contributors can choose to payout. This works out to an additional ~12% of the pool, or 362,250 MOVR.

As a reminder, contributors must initiate a payout of these vested tokens. This can be done at any time, and tokens vest on a block-by-block basis. Each payout will have a transaction fee, so the frequency of payouts is left up to your discretion.

To help ease the rewards claim process, there is an application to help claim rewards. You can find a tutorial showing how to do this here.

Exchange Listings of MOVR

Following the enablement of balance transfers on Moonriver, it is expected that exchanges will begin to list the MOVR token within 24 hours. We ask for your patience as the participating exchanges work through this process. Any news will be shared through the existing Moonriver and Moonbeam social channels as it becomes available.