What is xcKSM?
Moonbeam, the fully Ethereum-compatible smart contract platform on Polkadot, released new functionality to enable native cross-chain token capabilities on Moonriver on Jan 2022. This upgrade introduces XC-20s to Kusama, which are a new type of interoperable token that conform to the ERC-20 standard but are also Substrate-native assets. All fungible assets created in this format will be able to move to other Kusama parachains, and remote parachain tokens will be able to move to Moonriver as XC-20s. The first XC-20, xcKSM, is now live within Moonriver’s fully Ethereum-compatible environment, and can be created by transferring KSM from the Kusama Relay Chain. Once proven, the same functionality will be made available on Moonbeam.