Multichain Bridged BUSD (Moonriver)Price

(BUSD)

Multichain Bridged BUSD (Moonriver) (BUSD) is a digital asset designed to represent the Binance USD (BUSD) stablecoin on the Moonriver blockchain. Moonriver operates as a smart contract platform within the Kusama network. This particular token was created and managed using the Multichain protocol, which was previously known as Anyswap. The token utilized a cross-chain bridging mechanism; when BUSD was transferred to the Moonriver network, the original tokens were locked on their source chain, and a corresponding amount of bridged BUSD was minted on Moonriver. It is important to understand that Multichain Bridged BUSD on Moonriver is distinct from native BUSD. Native BUSD is issued by regulated entities and is backed by reserves. In contrast, the Moonriver version of the token was an "IOU" issued by the Multichain bridge, with its value relying entirely on the bridge's capacity to secure the native collateral on other chains. However, the token became a "distressed legacy asset" after the Multichain protocol experienced a security exploit in 2023. This exploit resulted in the compromise of private keys, making the collateral held in the bridge's vaults inaccessible. Due to this loss of backing, the Moonriver-based token lost its intended value and significantly deviated from its peg. Even after a Moonriver network upgrade in January 2026, the token remains unbacked and exhibits high volatility with limited liquidity. Learn more

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