Interaction Kintsugi and Moonriver
Kintsugi is interBTC’s canary network, an experiment with real economic value deployed in Kusam. Kintsugi and interBTC share the same codebase — with the difference that Kintsugi focuses exclusively on innovation and will always be ahead in terms of features.
An asset backed by bitcoins 1: 1, fully collateralized, compliant and censorship resistant. Kintsugi is backed by a decentralized network of secured vaults that protect locked BTCs on bitcoins.
BTC Kintsugi is adapted for DeFi. KBTC Kintsugi will raise large funds for the Kusama ecosystem. KBTC Kintsugi will raise large funds for the Kusama ecosystem. Kintsugi will also contribute to the growth of Kusama as a whole.
Polkadot and Kusama intended to create interoperability with other chains in the original whitepaper. Kintsugi is the first step towards fulfilling this promise. In addition, Kintsugi will use KSM as collateral, fully integrating into the ecosystem and leveraging not only BTC, but also KSM.
Project highlights
Kintsugi, like interBTC, is the only fully decentralized Bitcoin bridge that is completely trustless. It is based on top-level scientific research and has been audited by leading security firms. Anyone can become a vault at any time and help protect BTC by blocking the collateral. Thus, users only trust that Bitcoin and Kusama are safe: the protocol ensures that users can always get their BTC back or be reimbursed with collateral at a favorable rate. Thus, Kintsugi uses a multi-collateral model similar to MakerDAO, which allows stable and interest-bearing assets to be used as collateral.Moonriver is an Ethereum virtual machine (EVM) compatible blockchain that operates as a parachain on the Kusama network. EVM compatibility allows you to deploy Ethereum-based applications to Moonriver.
The web offers features to developers including deploying Solidity smart contracts, Web3 compatible API, Oracle data streams, and Ethereum network bridges. MOVR is a utility and network management token that can be used to manage the network, pay transaction fees, receive rewards by providing liquidity, and placing bets.Such strong and promising projects Kintsugi and Moonriver have joint plans for interaction.
Kintsugi is the interBTC canary network. Kintsugi brings bitcoin to Kusama via kBTC - the first fully decentralized and economically unreliable asset backed 1: 1 BTC.
Moonriver, in turn, is Solidity smart contracts on Kusam. Moonriver is also a completely Ethereum-like environment and works with standard Ethereum tools, DApps and protocols.Moonriver’s primary focus is on minimizing costs and this project will minimize the changes required to run existing Solidity smart contracts on the network.
Both projects operate in the Kusama ecosystem. But what are the prospects for interaction between these two projects directly.
Kintsugi + Moonrvier = Expand your reach to new users and markets with a multi-chain approach.
- The exchange of kBTC for MOVR opens up possibilities for many functions.
Why change kBTC to MOVR?
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This will allow you to:
- Pay transaction fees
- Accompany the execution of smart contracts
- Stimulate pickers to build blocks to support the network
- Simplifies the Moonriver control mechanism
2.Staking
By exchanging kBTC for MOVR, you can stake tokens on the Moonriver network using the DApp application created by the Moonbeam Foundation.
3. Smart contracts (Advantages of smart contracts: autonomy, cost reduction, speed, security).
The contract is developed in a specific language (Solidity, Serpent or Mutan), compiled in EVM and, with some exceptions, follows the standard ERC-20 interface. Solidity is a language that is based on JS, Python and C ++.
To approach creating a smart contract, you need to know Solidity.
Moonriver acts as a smart contract platform that enables the development of decentralized applications in the substrate environment. This means that Kintsugi smart contracts will not need to be rewritten or reconfigured, which is very convenient.
3.NFT on Moonriver
NFT direction is very popular now. With MOVR you can:
-mint, buy, sell and burn NFTs;
-play Play-to-Earn games
-participate in IDO focused on blockchain games
4)Participation in IDO
Moonriver already cooperates with many platforms to raise funds for the sale of tokens, such as Polkastarter, Poolz, Impossible Finance, etc. That is why Bitcoin holders will finally be able to participate in the purchase of tokens of interesting projects at an early stage. This is a great opportunity to multiply your BTC.
There are enough variations for productive interaction, so we believe in cooperation and a promising future.
