Movement Labs, the team behind Movement Network, has officially launched the project’s mainnet beta along with a tokenization event for the native token.
The MOVE token has a market cap of $1.8 billion at the time of writing. While the token is listed on cryptocurrency exchanges such as Binance and Bybit, it is not listed on Coinbase.
This phase is the first phase of the network's infrastructure rollout, allowing providers to deploy core components such as follower nodes, RPC nodes, and indexers.
Movement Network stands out as the first blockchain built with the Move programming language to integrate proof-of-stake mechanisms built directly into the Ethereum network. According to Movement Labs, this architecture increases both security and transaction finality thanks to a feature called “post-confirmations,” which allows transactions to be completed quickly.
According to its developers, the Move programming language was designed to mitigate common vulnerabilities in smart contracts and encourage the development of secure decentralized applications.
“By bringing the MOVE language to EVM, we are not just creating another Layer 2, we are building a bridge that turns every Move developer into an Ethereum developer, significantly expanding the potential of the ecosystem,” said Rushi Manche, Co-Founder of Movement Labs.
Manche also explained that although the network uses Ethereum for security, it is not a traditional Layer 2 chain. They said that they operate as a sidechain.
The Movement Network Foundation has allocated 10 billion native tokens in various categories to support the ecosystem and governance of the project:
- 40% (4 billion tokens): Ecosystem and community initiatives.
- 17.5% (1.75 billion tokens): Early contributors.
- 22.5% (2.25 billion tokens): Supporters.
- 10% (1 billion tokens): Reserved by the Foundation.
- 10% (1 billion tokens): Distributed to community members via an airdrop called MoveDrop.
*This is not investment advice.
