Movement is a blockchain project that brings Facebook's Move language to the Ethereum network. The project has garnered significant attention by raising $41.4 million from funds such as Polychain Capital and Binance Labs.

1. What is Movement?

Movement is a modular framework designed to simplify the development and deployment of blockchain infrastructure using the Move programming language.
Currently, Movement offers two main products:
M1: A Layer 1 blockchain with lightning-fast transaction speeds, using Move as the programming language (similar to Sui and Aptos).M2: A Layer 2 blockchain developed to bring Facebook's Move programming language to the Ethereum network. M2 utilizes Zero Knowledge Proof (ZKP) technology developed by Movement Labs, enabling users from Sui, Aptos, and major EVMs such as Sei Network and Monad to leverage this Layer 2 solution.
2. Project Team

Movement is operated by Movement Labs, a blockchain development company based in San Francisco, founded by Rushi Manche and Cooper Scanlon. Detailed information about the key members of the project is as follows.

Rushi Manche (Co-founder & CEO):

Rushi has experience as a software engineer at Aptos and is the founder of Ensemble, a project that integrates AI technology to support teaching. Notably, he dropped out of Vanderbilt University before founding Movement Labs in November 2022.Cooper Scanlon (Co-founder & CEO):

Like Manche, Cooper also dropped out of Vanderbilt University to establish Movement Labs. In contrast to Manche, Scanlon shares very little personal information on social media.

3. Investors & Partners

Movement Labs has raised a total of $41.4 million across two funding rounds so far. Detailed information is as follows:
Round 1 (Pre-Seed – September 13, 2023):

The project raised $3.4 million in a pre-seed round led by Borderless Capital, Blizzard Fund, dao5, and Varys Capital.Round 2 (Series A – April 25, 2024):

Movement Labs secured $38 million in a Series A funding round led by Polychain Capital. This round also included notable participants such as Aptos (APT) along with investment funds like OKX Ventures, Bankless Ventures, Figment Capital, Robot Ventures, and others.Round 3 (Funding Round – May 1, 2024):

Binance Labs announced an investment in Movement Labs, aimed at bringing Facebook’s Move language to Ethereum and pursuing broader ambitions. Binance Labs is the venture capital arm of Binance, the world’s largest centralized exchange (CEX).
Movement Labs plans to use the funds to implement its M1 and M2 solutions, hire additional staff including software engineers and blockchain specialists, and expand its presence in the Asia-Pacific (APAC) region and other key markets.

4.Movement's products?

Movement's products are primarily developed using the Move programming language. Move was initially created by a group of members from Facebook's now-defunct Diem stablecoin project.
Some notable Layer 1 projects currently using the Move language include the Sui (SUI) and Aptos (APT) ecosystems.

Movement offers two main products: M1 (Layer 1) and M2 (Layer 2). Both products leverage the Move programming language and aim to deliver high performance, security, and interoperability for decentralized applications (dApps).
4.1. M1
M1 is the first Layer 1 blockchain within the Movement ecosystem, currently in its devnet phase. It aims to establish a tightly integrated and high-efficiency Layer 1 ecosystem, similar to Avalanche's subnet model.

Key Highlights of M1:
Snowman Consensus Protocol: Adopts Avalanche's Snowman protocol to organize transactions into blocks, enabling the rapid processing of large transaction volumes.Integration with Avalanche PoS (Proof-of-Stake): Combines Avalanche's PoS network and ensures compatibility with Aptos.Move Virtual Machine (MoveVM): Supports a more flexible and efficient MoveVM, a virtual machine that allows developers to seamlessly interact with applications built using the Move programming language.
4.2. M2
M2 is a Layer 2 blockchain compatible with the Sui Network ecosystem, developed using the Move programming language. It operates as a Celestia rollup.

Key Highlights of M2:
Wide dApp Support: Facilitates diverse applications, including games, consumer apps, and financial products.Blobstream Technology from Celestia: Enhances data management efficiency and accelerates transaction processing, achieving over 145,000 transactions per second.MoveVM Integration: Boosts Ethereum's scalability while providing higher performance and enhanced security.

4.3. Other Products
In addition to M1 and M2, Movement is also developing several noteworthy products:
Movement CLI:

An infrastructure tool designed to interact with platforms like Fractal, Hyperlane, and others, enhancing development and integration efficiency.Movement Shared Sequencer:

A solution that provides top-tier compatibility across all Move-based environments and various other blockchains, improving interoperability and cross-chain functionality.Move Stack:

An execution layer framework compatible with leading Layer 2 solutions such as Optimism, Polygon, and Arbitrum, facilitating seamless integration and scalability.

6. Tokenomics Information
6.1. Key Metrics
Token name: MOVE
Blockchain: ETH
Contract:
Total supply: 10,000,000,000
Initial circulating supply: 2,250,000,000 (22.5% tổng cung)
Pool for HODLers Airdrop: 200,000,000 MOVE (2% of total supply)
Listing floor: ALL CEX
6.2 Token Allocation
a. Ecosystem & Community (40%):

This portion is reserved for the Movement ecosystem:
Staking Rewards: Reserved for future staking rewards distribution within the Movement Network.Ecosystem Initiatives: Reserved for distributing future grants to teams within the Movement Network, with grants awarded based on predefined milestones.Incentives & Liquidity Provision: Reserved for distributing future incentives when using the Movement Network and providing liquidity to kickstart the Movement Network's DeFi ecosystem.
b. Foundation (10%):

This portion supports the operations of the Movement Network Foundation, responsible for managing and driving the development, expansion, and decentralization of the network.
c. Initial Claims (10%):

10% of the total $MOVE tokens will be distributed to the Movement Network community through MoveDrop and other initial reward programs.
d. Backers & Contributors (40%):

This portion is allocated to partners and early users who have contributed:
Early Contributors (17.5%): For early contributors, primarily from Movement Labs. These include professionals in areas such as Engineering, Product, Community & Marketing, Business Development, Strategy, and other workgroups.Early Investors (22.5%): Allocated to early investors who have provided financial support, advice, and strategy for the development of the Movement Network.

6.3 Token Usecase
The MOVE token has the following utilities:
Governance: MOVE serves as the governance token on the Movement Network Public Testnet.Transaction Fees: Used to pay transaction fees on the network.Staking and Liquidity Provision: MOVE can be staked or used for liquidity provision within the ecosystem.
7. Roadmap
On January 16, the project revealed the Parthenon Roadmap, with the following key milestones:
Phase 1: Launch of M1 Alpha Validator.Phase 2: Launch of M1 Genesis Validator.Phase 3: Launch of incentivized testnet for M1, first Parallelized Move-EVM launch, and Modular Testnet Campaign.Phase 4: Introduction of Move Stack, support for decentralized sequencers, and enabling the development of Move-based rollups.Phase 5: Integration of Sui Move and deployment of Sui contracts via RPC Sui.Phase 6: Launch of M2 testnet – the first Layer 2 Move-EVM on Ethereum. M2 will use Celestia for Data Availability and leverage M1 as a decentralized sequencer.

The project is currently in Phase 3 of its development roadmap. The Movement team aims to launch the mainnet by Q4 this year, following the completion of the incentivized testnet.

More detail: Binance Hodler Airdrop x Movement HERE

Congratulations to everyone who has participated in the project testnet, OTC is 0.3-4$/Move.
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