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 Moonbeam, Dappradar, 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

The post Integration of Khala and Moonriver appeared first on Smart Liquidity Research.