Integration of Khala and Moonriver

Published on: 23.05.2022
Integration of Khala and Moonriver is Complete

Integration of Khala and Moonriver is complete. Khala is Phala’s sister network on Kusama and is used as a confidentiality layer for Web3 developers to invoke and interact with confidential contracts on other parachains. 

Moonbeam, the top destination for multi-chain applications on Polkadot, has announced an XCM integration with Khala and the availability of the kPHA token on Moonriver.

Integration Highlights

Once deposited on Moonriver as xcPHA (an XC-20 representation of PHA), the token can be used across Moonriver’s active DeFi ecosystem.

Moreover, while today’s integration introduces fungible token movement between these two chains. In addition, future updates will allow full interoperability between the chains. It also  enables smart contracts on Moonriver to leverage Khala’s suite of confidential computing services.

Additionally, users can deposit xcPHA tokens on Moonriver through the DApp,  used and moved freely across the Moonriver ecosystem, including DeFi applications.

Furthermore, these types of deployments help bring together the many parachains in the Kusama ecosystem to interact seamlessly with each other. The future enhancements will allow richer integrations, introducing hybrid DApp deployments and new applications of Polkadot’s core interoperability technology.

As the largest ecosystem on Kusama, Moonriver and its DeFi applications have become a destination for a variety of assets. Both Moonriver-native and non-native (from the greater Kusama ecosystem).

Token holders can find the latest list of live applications on Downtown MoonbeamDappradar, or DefiLlama.

ABOUT Moonriver
Moonriver is a companion network to Moonbeam and provides a permanently incentivized canary network.

Website | Twitter

ABOUT Phala Network
Phala Network tackles the issue of trust in the computation cloud. Organizing a decentralized network of computation nodes around the world. It also offers high-performance services without relying on any cloud vendor. Phala workers run the programs in Secure Enclaves.

Website | Twitter

RESOURCES
Moonbeam Blog

Market Stats:
BTC Dominance: 52.48%(+0.50%/24h)
ETH Dominance: 16.44%(-0.28%/24h)
Defi Market Cap: $96.14B(+49.48%/24h)
Total Market Cap: $2385.79B(-7.41%/24h)
Total Trading Volume 24h: $171.63B(+29.70%/24h)
ETH Market Cap: $392.62B
Defi to ETH Ratio: 24.49%
Defi Dominance: 3.85%
Altcoin Market Cap: $1133.79B
Altcoin Volume 24h: $108.62B
Total Cryptocurrencies: 28509
Active Cryptocurrencies: 9144
Active Market Pairs: 74744
Active Exchanges: 730
Total Exchanges: 8117
BTC: 63674.99$(-0.63%/1H)
ETH: 3265.59$(-1.13%/1H)
AVAX: 56.98$(-2.05%/1H)
BNB: 513.14$(-0.69%/1H)
MATIC: 0.94$(-0.39%/1H)
FTM: 0.85$(-0.92%/1H)
ADA: 0.61$(-0.64%/1H)
DOT: 8.98$(-0.44%/1H)
UNI: 10.71$(-0.9%/1H)
CAKE: 3.62$(-0.76%/1H)
SUSHI: 1.56$(-0.52%/1H)
ONE: 0.03$(-0.58%/1H)