What Is Movement (MOVE)?
Movement (MOVE) is a MoveVM-based Layer 2 (L2) blockchain that settles on Ethereum, aiming to enhance the Ethereum ecosystem by providing high throughput, improved security, and near-instant finality. Developed by Movement Labs, Movement integrates the Move programming language to offer developers a secure and efficient environment for building decentralized applications (dApps).
The Movement Ecosystem
Movement fosters a diverse ecosystem encompassing decentralized finance (DeFi), gaming, non-fungible tokens (NFTs), and various infrastructure projects. The Move Collective, a community of builders, investors, and experts, collaborates within this ecosystem to drive innovation and adoption of Move-based technologies.
Core Features
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High Performance: Utilizing a parallelized Move-EVM, Movement achieves theoretical throughput exceeding 160,000 transactions per second (TPS), with gas fees below $0.01.
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Decentralized Sequencer: Movement employs a decentralized sequencer to enable subsecond finality, enhancing transaction speed and security.
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Modular Architecture: The network's modular framework allows developers to deploy Move-based blockchains and applications with native interoperability across various ecosystems.
MOVE Token and Tokenomics
MOVE Token Utility
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Staking for Economic Security: Validators stake MOVE tokens to confirm the correctness of Movement Network’s state, earning rewards for their participation.
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Gas Fees: Transactions on Movement Network are paid in MOVE tokens, with a portion used to settle transactions on Ethereum Mainnet.
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Governance: MOVE holders can propose and vote on governance proposals, influencing network parameters and community initiatives.
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Native Asset Utilization: MOVE serves as the native asset for applications built on Movement Network, facilitating liquidity, collateral, and payment functions.
$MOVE Token Supply and Token Allocation
Source: Movement blog
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Maximum Supply: 10,000,000,000 MOVE
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Initial Circulating Supply: Approximately 22%
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Token Standard: Initially available as an ERC-20 token on Ethereum, with plans for a native token on Movement Network upon mainnet launch.
Token Distribution
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Ecosystem & Community (40%): Allocated for staking rewards, ecosystem initiatives, and liquidity provisioning to support network growth.
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Initial Claims (10%): Distributed through programs like MoveDrop and other community engagement activities.
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Foundation (10%): Reserved for the ongoing operations and development managed by the Movement Network Foundation.
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Early Contributors (17.5%): Allocated to early contributors from Movement Labs across various workstreams.
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Early Backers (22.5%): Reserved for early backers providing financial, advisory, and strategic support.
Token Release Schedule
Source: Movement blog
Movement (MOVE) Airdrop: MoveDrop Program
The Movement Network Foundation's MoveDrop allocates 1 billion MOVE tokens (10% of total supply) to reward early users, developers, and community contributors ahead of the Genesis and TGE.
Key Dates for MoveDrop
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Snapshot Date: November 23, 2024.
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Registration Deadline: December 2, 2024, 2 PM UTC.
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Claim Options:
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On Ethereum Mainnet after $MOVE TGE.
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On Movement Network for a 1.25x bonus post-Mainnet launch.
MOVE Airdrop Categories
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Road to Parthenon: Rewards for testnet transactions and completed quests, with anti-sybil measures.
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Battle of Olympus: Allocations for hackathon winners and runners-up.
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Gmove: Rewards for tweets and participation in the #gmovechallenge.
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Selected Communities: Discord role-holders, Centurions, Gorilla Moverz, and other key groups.
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Testnet Builders: Allocations for teams contributing to Movement Network’s development.
MoveDrop celebrates early adoption and community engagement, setting the stage for a robust Movement ecosystem.
Movement (MOVE) Roadmap and Key Milestones
Source: Movement blog
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Mainnet Genesis: Initiation of the network with selected node operators running follower nodes.
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Deposit Contract on Ethereum Mainnet: Enabling users to deposit MOVE tokens into a liquid deposit contract to build economic security.
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Bridging MOVE to Movement Network: Facilitating the transfer of MOVE tokens to Movement Network.
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Onboarding Validators: Selecting and onboarding validators to secure the network.
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Enabling Staking: Opening full staking functionalities for the broader user base.
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Implementing Slashing Mechanisms: Introducing penalties for malicious behavior to maintain network integrity.
Post-mainnet launch, Movement plans to introduce features like MoveStack, Shared Sequencing, MEVM, and Multi-Staking to further enhance the network's capabilities.
Conclusion
Ethereum layer-2 network Movement aims to advance the Ethereum ecosystem by integrating the Move programming language's security features with Ethereum's robust infrastructure. The MOVE token plays a pivotal role in securing the network, facilitating transactions, and enabling decentralized governance, positioning Movement as a significant player in the evolution of blockchain technology.
