Token Holders Can Permanently Move and Use the RMRK Token Natively Within Moonriver
Boston, MA – January 20, 2022 – Moonbeam, the fully Ethereum-compatible smart contract platform on Polkadot, has announced the availability of a one-way bridge from Statemine to Moonriver. This HRMP Channel makes it possible to move Statemine-based fungible assets like RMRK to Moonriver. This announcement follows the introduction of XC-20s last week, which brought xcKSM to Moonriver for the first time. Once RMRK is bridged as an XC-20, xcRMRK can be used like any other Moonriver-based token across the dozens of active DApps on the network.
RMRK tokens can be bridged to Moonriver in the same way as other cross-chain assets: through the DApp. Simply click to deposit xcRMRK and follow the prompts to move the asset to Moonriver. Once deposited, you can use xcRMRK with your MetaMask wallet and Ethereum-style H160 address, as you do with all Moonriver-based assets. Follow the instructions in this tutorial for a step-by-step walkthrough.
“The RMRK protocol is at the heart of NFT activity on Kusama,” said Derek Yoo, Founder of Moonbeam. “Integration support for the RMRK fungible token is the first in a series of integrations that will bring RMRK based functionality to Moonriver. We look forward to our continuing collaboration with the RMRK team to allow developers on Moonriver to create advanced NFT based applications that go beyond the current ERC-721 and ERC-1155 based status quo.”
RMRK is the native utility token of the RMRK protocol, a set of extensible building blocks for NFTs on Kusama. The token was launched last year on Statemine, a common good parachain on Kusama that is designed to serve as an asset hub for the ecosystem. The team has recently begun migrating these tokens to other parachains in the ecosystem through these HRMP channels.
About the Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Like Moonriver, its sister parachain on Kusama, Moonbeam is expected to accumulate developer and user activity from the 80+ projects building DApps and protocols on the network. As a parachain on the Polkadot network, Moonbeam benefits from the shared security of the Polkadot Relay Chain and integrations with other chains that are connected to Polkadot. Learn more: https://moonbeam.network/.