TechFlow News — According to official announcements, the on-chain governance proposals initiated by Bifrost and Moonriver in the Polkadot ecosystem regarding the HRMP cross-chain channel and the listing of xcBNC assets have both been approved. As the first supported assets, BNC/MOVR have enabled two-way cross-chain functionality between the Kusama parachains Bifrost and Moonriver via XCM (Cross-Consensus Message Passing).
Bifrost now supports BNC/MOVR cross-chain interoperability on its Dapp Wallet page. Users can transfer BNC to Moonriver using the XC-20 standard, utilize xcBNC to access Moonriver's DeFi ecosystem, or transfer MOVR back to the Bifrost parachain.
According to the Bifrost team, Bifrost plans to provide derivative asset vMOVR for Moonriver in the future to increase Moonriver’s network staking rate, lower the barrier for users to stake MOVR, and enhance the overall decentralization of the network.
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