Explore Moonriver By Swapping With LI.FI
LI.FI Interoperability Expands To Moonriver
Moonriver is an EVM-compatible parachain on the Kusama network. Kusama’s parachains, or Parallel Blockchains, are chains built to solve specific problems without having to create an entire security infrastructure. Instead of building up their own network of validators and creating a consensus protocol, parachains like Moonriver use Kusama’s relay chain, inheriting its security, consensus mechanisms, and transaction settlement features.
As an EVM-compatible chain, Moonriver is perfect for Ethereum dApp developers who want access to the Kusama ecosystem, as porting over their code is seamless. Kusama is a chain connected to the Polkadot network, which positions itself as a “Layer 0” solution, bringing interoperability to Layer 1 giants such as Ethereum and Bitcoin. Moonriver attracts many developers with its promise of bringing EVM contracts to Polkadot’s ecosystem via Kusama.
With so many exciting multi-chain possibilities unlocked by Moonriver, major projects have been rushing to integrate with the network, which has driven it to a current TVL of $170 million, and a market cap of over $300 million. DeFi giants such as Chainlink, Sushiswap, and Fantom have all deployed live integrations already, and the list will only keep growing.
This article talks about Moonriver and throws light on some of the most popular dApps in its ecosystem.
Let’s dive in!
Source: Kyros Ventures
Exploring the Moonriver Ecosystem
At the end of June 2021, Moonbeam Network announced Moonriver parachain on Twitter. Kusama and Polkadot can currently support a limited number of parachains, so teams must win auctions for those slots to build parachains. After winning their auction, Moonbeam began facilitating integrations with many new projects spanning the whole crypto space, from Celer Network to Unifty.
Here’s an overview of the most popular dApps on Moonriver that you can use by swapping with LI.FI today:
Source: Market Realist
Decentralized Exchanges (DEXs)
When Sushiswap announced they would be integrating Moonriver in October 2021, it was a big win for the ecosystem. Earlier that year they had already scored an integration with Balancer protocol, as well as one with DODO, the innovative new DEX running on an in-house market-making algorithm. Moonriver’s lightning speeds and low transaction costs make it extremely enticing to bridges and DEXs, as proven by its list of partners in those spaces.
As the leading aggregator of cross-chain liquidity sources, Li.Fi was eager to integrate Moonriver, and now you can gain access to all these powerful markets by integrating Li.Fi into your dApps today.
Source: Mochi Market
Gaming & NFTs
Moonbeam has a very generous grants program to encourage NFT projects to integrate with Moonriver, and one of the biggest recipients of these grants is Mochi Market, a premiere multi-chain NFT DEX. As part of their partnership, Mochi will also become a support platform for NFT games on the Moonbeam network, incentivizing Moonriver and Moonbeam GameFi projects.
With new games like Damned Pirate Society and Blockchain Monster Hunt coming to the Moonriver ecosystem all the time, their partnerships with NFT platforms will continue to pay off greatly for users in the future.
Source: Republic World
Lending Protocols
Moonriver grew tremendously in the DeFi space in 2021. When UniLend launched on Moonriver in December of 2021, it became the first flash loan protocol to ever integrate the network. Having already established a major presence on the Ethereum, Binance and Polygon chains, a move to the Polkadot ecosystem via Moonriver was another major step in their growth.
A month earlier, Moonriver made another big move, partnering with the popular yield optimizer, Beef Finance. Users can now swap their $BIFI tokens over to Moonriver to earn $MOVR tokens in vaults with high APR’s.
With Moonriver’s liquidity sources constantly growing, access to these markets will only be more valuable in time, and Li.Fi can be your gateway. Li.Fi offers any-2-any cross-chain swaps from and to Moonriver with its innovative cross-chain liquidity aggregation protocol.
Source: The Moonbeam Projects Page
Native Moonriver dApps
This section is about the amazing dApps built natively on Moonriver that haven’t been mentioned above. Here’s a list of some of the most widely used native Moonriver dApps:
Moonwell — Built natively on Moonriver, Moonwell is open lending, borrowing, and decentralized finance protocol that aims to be the well of knowledge for all things DeFi
.
Huckleberry — Huckleberry is a community-driven cross-chain DEX built on Moonriver that integrates Wanchain’s cross-chain bridges to enable swaps.
Minterest — With its in-house liquidation and buyback mechanisms, Minterest protocol was designed to distribute its fees on interest rates, flash loans and liquidations to its users via an automated system.
Authtrail — Authtrail
is a data integrity SaaS tool for enterprise users that provides advanced APIs, a Dashboard, a Validator, a Public Explorer and more.
There’s a nearly endless list of ambitious projects integrating Moonriver, and you can check them out on Moonbeam’s official projects and dApps page.
So, how can users explore the Moonriver ecosystem?
By using cross-chain bridges individually or using a bridge aggregator like Li.Finance that integrates the best bridges in the ecosystem and allows users to move their assets onto and from the Opera network.
To learn more about Moonriver, check out:
The future is multi-chain and we strive for more interoperability. Our aim is to build the multi-chain ecosystem by maintaining good relationships with all the stakeholders. We’re grateful to have Moonriver in the LI.FI family!
We’ve partnered up with the brightest minds and aim to build the best abstraction and aggregation solution available on the market. If you’re a blockchain network, bridge builder, or dApp developer, come talk to us and let’s work together!
FAQ: Explore Moonriver By Swapping With LI.FI
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Disclaimer: This article is only meant for informational purposes. The projects mentioned in the article are our partners, but we encourage you to do your due diligence before using or buying tokens of any protocol mentioned. This is not financial advice.