The event marks one of the first Calamari XCM integrations. Under the integration, the network’s native token KMA will be available for use on Moonriver as $xcKMA. Moonriver is Moonbeam’s companion network in the Kusama ecosystem.
All Working Well
Users can start to deposit xcKMA and use the token to acces multiple functionalities through different projects launched on Moonriver.
Furthermore, this also opens an opportunity to interact with Calamari across the Kusama network, enabling cross-chain privacy for a wide variety of crypto assets all at once by transferring assets from Moonbeam’s Ethereum-compatible network.
Moonriver and Calamari share lots of common points. While Calamari plays the role of a testnet version of the Manta network where new functionalities will be tested before launching on Polkadot’s mainet.
Moonriver serves as an experimental environment where developers can test their products before running them on Moonbeam.
The connection between the two parachains will give Moonriver additional cross-chain privacy functionality and tools, resulting in an enhanced Kusama ecosystem.
Calamari is Building The Future
Being an on-chain privacy platform backed by the Kusama network, Calamari plays a key role as an early, experimental version of Manta Network.
Manta is built for Polkadot, a Web 3.0 company that prioritizes privacy. Manta and Calamari aim to build blockchain applications, like DeFi, with end-to-end privacy assurances and interoperable, easy-to-use, high-performance, auditable tools.
XCM, or cross-consensus messaging, makes privacy-preserving technologies available to all connected Kusama parachains, expanding each project’s reach and end-users options.
According to the strategic plan, the next step is to implement MariPay and MariSwap in order to enable the private transfer of parachain assets and privacy-preserving exchanges.
This will be the first privacy module connection for Moonriver and will make Calamari uses available on all XCM-enabled parachains. Both of those are Calamari network’s features.
MariPay is a private payment service that enables the private transfer of Kusama’s Parachain assets, including Kusama-backed crypto-assets. Users can exchange everyday assets such as stablecoins and wBTC while maintaining on-chain privacy thanks to ZKP.
MariSwap is an AMM DEX that allows users to swap across parachain assets while protecting user addresses’ anonymity. MariSwap also provides never-before-seen capabilities in the crypto realm, including private liquidity pools.
DeFi trend still has room to grow but it needs to overcome many limitations in terms of scalability and interoperability. These challenges pushed the arrival of Polkadot.
The ecosystem is on a mission to tackle the weaknesses of the previous blockchains. Moonbeam and Moonriver are two of the most outstanding elements on Polkadot.
Moonriver is an Ethereum-compatible smart contract platform that aims to give protocols and dApps on Ethereum an easy transfe on Kusama.
Moonriver successfully launched mainet on Kusama last August, allowing 60 projects on Moonbeam to deploy smart contracts and unlimited dApps on the network.
Since its launch, the number of transactions has exceeded 19 million while the unique wallets reached 600k.
XCM getting more adoption is a chance for Kusama projects to reach this user base through integration.
Moonriver integrations let users engage with tokens as XC-20s, a special token standard that lets Substrate-based tokens like KMA act as an ERC-20 and be used with Ethereum-style addresses through MetaMask.
Moonriver’s support for XC-20s makes it easier for developers to construct multi-chain applications that are accessible and easy to use.
As parachains join, Moonriver projects will be able to engage with cross-channel assets and messages under the Kusama Relay Chain’s shared security.
With more projects using Moonbeam’s services, the network will expand and reach more potential customers. Moonbeam is on the way to achieving its goal and helping Polkadot’s vision of connecting chains, through support for ETH smart contracts.
The post Calamari’s Token KMA Listed On Moonriver After Successful Integration appeared first on Blockonomi.