I. What is Movement Network?
Movement Network is a cutting-edge, modular blockchain ecosystem designed to revolutionize the Ethereum landscape. It leverages the power of the Move programming language, a secure and resource-efficient framework, to deliver unparalleled transaction throughput and a superior user experience.
As the first Move-EVM L2 for Ethereum, Movement Network integrates several innovative technologies to achieve its goals:
Celestia for Data Availability and Decentralized Shared Sequencing: This integration ensures data integrity and efficient transaction processing.
Optimistic Rollup with Fast-Finality Settlement: This hybrid approach combines the security of optimistic rollups with the speed of fast-finality settlements.
Move Virtual Machine (MoveVM): This execution layer, powered by the Move programming language, enables the creation of high-performance, consumer-focused applications.
By combining these technologies, Movement Network offers a fast, secure, and scalable platform for developers to build a new generation of blockchain applications.
What does Movement aim to achieve?
Blockchain technology, spearheaded by Bitcoin and Ethereum, has undeniably transformed the digital landscape. However, Ethereum's scalability and security limitations have hindered its widespread adoption. While rollups have mitigated some scalability issues, they have not fully addressed security and latency concerns.
The Solution: A Move Towards the Future
Move, a programming language developed by Facebook, offers a novel approach to building secure and efficient blockchain applications. By prioritizing resource-oriented programming and formal verification, Move ensures the safety and reliability of smart contracts. Movement Network aims to bridge the gap between Ethereum's robust security and Move's efficient execution. By integrating the strengths of both platforms, Movement creates a powerful and scalable blockchain ecosystem.
Key Benefits of Movement Network:
Enhanced Security: Leveraging Ethereum's proven security model and Move's formal verification techniques.
Superior Scalability: Utilizing MoveVM's parallel execution capabilities and efficient resource management.
Accelerated Transactions: Benefiting from Move's fast-finality mechanisms and optimized consensus algorithms.
Developer-Friendly Ecosystem: Providing a robust development framework, comprehensive tooling, and a supportive community.
Seamless Interoperability: Enabling cross-chain communication and asset transfer between Move and Ethereum ecosystems.
By combining the best of both worlds, Movement Network empowers developers to create high-performance, secure, and scalable dApps, driving the future of decentralized technologies. We're building a secure, scalable, and developer-friendly blockchain infrastructure that unlocks the full potential of blockchain technology.
2. Movement’s Key Features
High-Throughput Parallel Processing:
Leverages Move's parallel processing capabilities through Block-STM.
Achieves a remarkable throughput of 160,000+ transactions per second (TPS).
Enhanced Security and Safety:
Employs the Move programming language to significantly reduce the risk of traditional smart contract vulnerabilities.
Strong emphasis on formal verification and security audits.
Universal Smart Contract Compatibility:
Introduces Fractal, a powerful interpreter that enables Solidity contracts to seamlessly compile and execute on the MoveVM.
Facilitates parallel execution of Solidity contracts, boosting performance.
Ensures full bytecode compatibility, allowing Move and EVM applications to coexist.
Flexible Rollup Framework:
Provides a robust SDK for developers to build and deploy custom high-throughput rollups.
Empowers developers to tailor rollup solutions to specific application needs.
3. Movement’s Achievements
As of November 22nd, the Movement testnet has demonstrated significant progress, achieving several impressive milestones:
Over 681 million total transactions
More than 15.8 million active addresses
63 committed dApps
Leveraging its innovative technology and developer-friendly design, Movement has attracted a diverse range of projects building upon its blockchain. This ecosystem encompasses various sectors, including gaming, DeFi, NFTs, and SocialFi, demonstrating the platform's versatility and appeal to developers.
II. $MOVE Tokenomics
$MOVE serves as the utility token powering the Movement Network ecosystem. It will play a crucial role in achieving the network's long-term goals. Movement Network is committed to developing a diverse range of applications for $MOVE to enhance its utility and value.
Token Distribution
Ecosystem + Community (40%)
Staking Rewards: Allocated for future distribution to validators on the Movement Network.
Ecosystem Initiatives: Reserved for grants to support projects and teams building on the Movement Network.
Incentives & Liquidity Provisioning: Designed to incentivize network usage and bootstrap the Movement Network DeFi ecosystem.
Initial Claims (10%)
MoveDrop & Initial Claims: Distributed to the early Movement Network community.
Foundation (10%)
Foundation Operations: Supports the ongoing operations of the Movement Network Foundation, focusing on growth, development, and decentralization.
Early Contributors (17.5%)
Early Team Members: Rewarding the early contributors from Movement Labs across various roles, including engineering, product, community, marketing, business development, and strategy.
Early Backers (22.5%)
Early Supporters: Recognizing the financial, advisory, and strategic support provided by early backers of the Movement Network.
Early Contributors and Early Backers will be subject to a one-year lock-up period on their 40% allocation of the total token supply. This measure is designed to align incentives and foster long-term commitment to the Movement Network.
$MOVE Token Utility
Staking for Network Security
Fast-Finality Mechanism: Movement Network will implement a novel fast-finality settlement mechanism, offering an alternative to validity and optimistic rollups.
Validator Rewards: Validators who stake $MOVE to secure the network will receive staking rewards as compensation.
Gas Fees
Payment for Transactions: $MOVE will be used to pay gas fees on the Movement Network Public Mainnet L2.
Rent Payments: A portion of these fees will be used to pay rent for settling transactions on Ethereum Mainnet.
L2 Gas Fees: Future L2s built on the MoveStack are also expected to utilize $MOVE for gas fees.
Governance and Decentralization
Community Participation: $MOVE holders will have the opportunity to participate in network governance by proposing and voting on proposals to modify network parameters.
Decentralization: The community will play a crucial role in the long-term decentralization of the Movement Network.
Native Asset
Core Utility: $MOVE will serve as the native asset of the Movement Network.
Diverse Applications: It will be used for various purposes, including:
Asset liquidity
Collateral
Payment for goods and service
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III. Movement Roadmap
The launch of $MOVE, the native token of the Movement Network ecosystem, is a crucial step in establishing a robust and sustainable network. The token will serve as the backbone of the network, enabling various use cases such as staking, transaction fees, and governance.
To bootstrap network security and facilitate user engagement, Movement Network will implement a phased approach:
Movement Public Mainnet
Phase 1: Mainnet Genesis
Node Operator Selection: Select a group of trusted node operators to initiate the network.
Phase 2: Liquid Deposit Contract
Ethereum-Based Deposit: Allow users to deposit $MOVE into a liquid deposit contract on Ethereum Mainnet.
Phase 3: Cross-Chain Bridge
Token Bridging: Facilitate the transfer of $MOVE from Ethereum Mainnet to the Movement Network.
Phase 4: Validator Onboarding
Validator Selection: Select and onboard validators to secure the network.
Phase 5: Staking Functionality
Staking Activation: Enable full staking functionalities for the broader user base.
Phase 6: Slashing Mechanisms
Penalty Implementation: Introduce penalties for malicious behavior to maintain network integrity.
Post-Mainnet Roadmap
Following the launch of the Movement Network Public Mainnet, the development team will focus on the following key areas:
MoveStack: A comprehensive development framework for building dApps on Movement Network.
Shared Sequencing: A mechanism to optimize transaction processing and reduce costs.
MEVM: A virtual machine that enables Ethereum-based smart contracts to run on Movement Network.
Multi-Staking: A feature that allows users to stake multiple assets to secure the network.
IV. Movement (MOVE) on Binance HODLer Airdrops
The third project on Binance Airdrops Portal: Movement (MOVE). As the first Move-EVM Layer-2 solution for Ethereum, Movement brings the security and efficiency of the Move programming language to the Ethereum ecosystem
Users who subscribed their BNB to Simple Earn Flexible or Locked products from 2024-12-02 00:00 (UTC) to 2024-12-05 23:59 (UTC) will get the airdrop distribution. The MOVE HODLer Airdrops page is estimated to be available in 5 hours, and the new token will be distributed to users’ Spot Wallet 1 hour before trading starts.
MOVE HODLer Airdrop Details
Token Information
Token Name: Movement (MOVE)
Total and Max Token Supply: 10,000,000,000 MOVE
HODLer Airdrop Rewards: 200,000,000 MOVE (2% of max supply)
Launchpool Allocation: 5% of max supply, six months post-listing
Circulating Supply at Listing: 2,250,000,000 MOVE (22.5% of max supply)
Smart Contract Address: 0x3073f7aAA4DB83f95e9FFf17424F71D4751a3073
BNB holding hard cap: User’s average BNB holdings in Simple Earn/ Total average BNB holding * 100% ≤ 4% (If the holding ratio is greater than 4%, the BNB holding ratio will be calculated as 4%)
Binance HODLer Airdrops
A Simple Way to Earn
Binance HODLer Airdrops is a program designed to reward BNB holders. By subscribing BNB to Simple Earn Flexible or Locked products, users are automatically eligible for these airdrops, along with other rewards like Launchpool and Megadrop.
Unlike other earning methods that require continuous actions, HODLer Airdrops reward users retroactively. Simply subscribe to Simple Earn and let your BNB work for you.
How to Participate
Head to Earn: Navigate to the Earn section on the Binance platform.
Subscribe to Simple Earn: Choose either Flexible or Locked products for your BNB holdings.
Reward Calculation
Binance will periodically take snapshots of user balances and total pool balances. These snapshots will be used to calculate hourly average balances for each user. Example: A reward calculation for an airdrop on June 11, 2024, might consider snapshots from June 1 to June 7, 2024.
Claiming Your Rewards Eligible users will receive their HODLer Airdrop rewards directly to their Spot Wallets within 24 hours of the airdrop announcement.
