I originally planned to write an article about Binance HODLer third phase before launching on @movementlabsxyz, but I was too busy yesterday and missed it, so this issue will serve as a project review, hoping it helps. Currently, the price of $MOVE on Binance is: 0.6874u.
About Movement
Movement Network is an L2 built on Ethereum, aiming to make blockchain run faster and more securely. It uses the Move programming language, which not only makes the blockchain more secure but also enables the handling of more transactions and applications, enhancing scalability. The best part is that it solves common performance bottlenecks in blockchain through innovative design, making the entire system more efficient. In simple terms, Movement aims to empower blockchain through better technology, making it stronger and more suitable for practical applications.
Project Financing
The financing progress of Movement Network has gone quite smoothly: in September 2023, it completed a $3.4 million seed round financing led by institutions such as Varys Capital, dao5, and Blizzard Fund; in April 2024, it received support from well-known institutions such as Polychain Capital, Binance Labs, and OKX Ventures for a $38 million Series A financing.
The Movement Labs team was established in November 2022, and the founders Rushi Manche and Cooper Scanlon both attended Vanderbilt University in the United States. Rushi previously worked at Aptos and discovered the potential of the Move language; Cooper developed SPAC DAO tools and created the first yield aggregator based on the Move language.
Overall, the Movement team's background is strong, and their technical experience is rich, which lays a solid foundation for the project's development.
Project Highlights
The highlight of Movement Network lies in its high performance and security. Through the parallel processing capability of the Move language, TPS can reach 30,000+, greatly enhancing network throughput. Move also strengthens the security of smart contracts, effectively preventing traditional attack methods. The Fractal interpreter allows Solidity contracts to be compiled on MoveVM and coexist with EVM applications while providing complete bytecode compatibility.
In addition, the high-throughput aggregation framework provided by Movement SDK allows teams to launch custom aggregations based on needs, further enhancing the system's flexibility and scalability.
Token Economics
In the token distribution structure of Movement Network, 40% is allocated for ecosystem development and community incentives, particularly attracting user participation through airdrop rewards. Early supporters and contributors account for 22.5% and 17.5%, respectively, with initial users making up 10% and the foundation accounting for 10%. It is particularly noteworthy that the Binance HODLer airdrop allocation accounts for 2.00%, which is a good proportion, indicating that the project values community support. Overall, the token distribution is mainly aimed at incentivizing community activity and ensuring the long-term development of the project.
In simple terms, Movement enhances blockchain performance and security by utilizing the Move-EVM layer 2 network. It is worth mentioning that the Binance HODLer airdrop allocation accounts for 2.00%. Overall, Movement's token distribution and technical advantages lay a good foundation for the project's future development, potentially attracting more developers and users.
