Kraken Adds Support for Moonriver (MOVR), a Kusama Parachain Supporting Ethereum based dApps

Digital assets firm Kraken is pleased to confirm that they’re now supporting Moonriver (MOVR) according to an announcement dated August 26, 2021.

As noted in the update from Kraken, deposits and withdrawals are currently open.

Trading will commence at around “09:00 UTC on August 27.” Customers who contributed to Moonriver’s Parachain Auction on Kraken will “automatically receive MOVR rewards in their Kraken account.” Complete details on the rewards distribution may be accessed here. Note: Trading is “not available to residents of the USA, Canada, Australia and Japan.”

What is Moonriver?

Moonriver is a Kusama parachain that aims to support Ethereum (ETH) decentralized applications (dApps) by offering a complete Ethereum Virtual Machine (EVM) implementation, a Web3-compatible API and “bridges that connect Moonriver to existing Ethereum networks.”

Moonriver also intends to “implement a built-in integration for all Kusama and ERC-20 tokens and bridges to other assets like Bitcoin.”

Addressing a question about whether traders will receive MOVR for contributing to the auction, the Kraken team noted:

“Yes, clients who contributed to Moonriver’s Parachain Auction on Kraken have now received MOVR rewards in their Kraken account.”

Commenting on what time will funding and trading begin, Kraken confirmed that “funding is now open. Trading starts Friday, August 27, at approximately 09:00 UTC.”

Here are the trading pairs for MOVR supported on Kraken:

  • MOVR/USD
  • MOVR/EUR

For instructions on how to deposit MOVR and other details, check here.

MOVR is available on Kraken, Kraken Pro. Its not yet available on Kraken Futures, Margin trading.

Going on to address a question about whether Kraken will list more assets, the company’s management clarified:

“Yes. But our policy is to never reveal any details until shortly before launch – not even which assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.”

Kraken also pointed out that you must trade with caution and that limit orders are “recommended when trading starts since the markets may be illiquid initially.” Be “extremely careful with market orders and orders that trigger market orders (e.g. stop loss),” the company noted.

Kraken also clarified that “listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network.”


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