Moonriver is a fully Ethereum-compatible parachain that serves as a companion network to Moonbeam and provides a permanent incentivized canary network. First, new code ships to Moonriver, where it can be tested and verified under real economic conditions. Once tested and ready, the same code ships to Moonbeam on Polkadot.
Ready to stake? Here’s what you need to know:
Key Staking Considerations:
- Rewards are automatically distributed at the end of every round (300 blocks, or approx 2 hours), collators are rewarded for their work from 2 rounds ago
- There is currently no slashing
- 2.5% of inflation goes to stakers as rewards
- No unbonding period
- To compound your MOVR rewards, a new delegation is required
Staking Moonriver: Step by step guide
The Moonriver staking interface will automatically bring up a MetaMask window, prompting you to connect to your MetaMask wallet, and switch over to the Moonbeam network.
Once you gain access to the Staking interface, you will see balance, and wallet information. Scrolling down on the page will bring you to the Staking section.
To begin staking MOVR tokens, click the “Manage nominations” button.
At this step, select a collator address, enter the amount you wish to Stake, and click “Nominate.’ Following this, confirm the MetaMask transaction.
Congrats! Once the transaction is confirmed, you have successfully delegated your MOVR tokens. From here, you can unbond your delegation, or bond more funds.