Movement is a unique blockchain network supporting multiple Layer 1 and Layer 2 blockchains on Ethereum. Movement is developed using the Move programming language (similar to SUI and Aptos), having successfully raised $41.4 million, and will list its MOVE token on December 9, 2024.
1. What is Movement?
Movement is an advanced blockchain network that provides a highly flexible and interoperable platform for building and deploying decentralized applications (dApps) across various blockchain ecosystems. It supports multiple blockchain environments, including Aptos, Ethereum-compatible chains (through Move-EVM), and Sui, enabling developers to leverage a rich set of tools to create and run smart contracts and dApps.
Movement also announced that the MOVE token will be listed on major exchanges like OKX and Bybit starting from December 9, 2024.
advanced features and the flexibility of Solidity. It helps achieve seamless blockchain connectivity. Developers can connect using standardized RPC formats and efficiently operate and test nodes using Movement CLI.
Movement also announced that the MOVE token will be listed on major exchanges like OKX and Bybit starting from December 9, 2024.
2. How does it work?
The Movement network operates through three core components, ensuring exceptional performance, security, and interoperability:
Move Executor
Fast Finality Module
Decentralized Shared Sorter
Each component plays a crucial role in maintaining the stability and efficiency of the Move language chain.
2.1 Move Executor
Move Executor is the core of the Movement SDK, supporting both MoveVM and EVM bytecode. This dual compatibility provides a powerful execution environment that allows developers to utilize the advanced features of the Move language while ensuring compatibility with existing Ethereum applications.
Move Executor combines the parallel execution capabilities of MoveVM with the EVM interpreter, ensuring exceptional flexibility and scalability.
2.2 Fast Finality Module
This module is designed to provide fast transaction confirmation and processing. By validating the accuracy of transaction statuses through staking assets in the validator network, it ensures the security of the crypto economy and minimizes transaction delays.
Validators enhance security not only through staking but also by ensuring quick transaction completion to optimize performance.
2.3 Decentralized Shared Sorter
Decentralized Shared Sequencer is a decentralized transaction sorting mechanism that enhances censorship resistance, fairness, and network stability.
By enabling custom transaction sorting, it supports cross-chain atomic swaps and shared liquidity in the Move Arena ecosystem. This ensures that transaction sorting is fair and efficient across all participating chains.
3. What products does Movement offer?
Movement offers two flagship products—M1 (Layer 1) and M2 (Layer 2), both built on the Move programming language. These products provide exceptional performance, strong security, and optimal interoperability for decentralized applications (dApps).
3.1 M1 – Pioneering Layer 1 Blockchain
M1 is a Layer 1 blockchain platform designed for flexibility, adaptability, and ease of use, catering to developers looking to build innovative blockchain applications.
Custom Virtual Machine (VM): M1 allows the deployment of custom VMs, enabling developers to create blockchain applications optimized for specific needs.
High Performance: M1 is powered by the Movement SDK, which employs modular MoveVM technology, seamlessly integrating with AvalancheGo (the decentralized messaging layer of Avalanche). This ensures robust security and stability across a network of 1,240 validators.
EVM Compatibility: M1 supports Ethereum Virtual Machine (EVM)-based applications through the Fractal tool, enhancing security to prevent potential vulnerabilities.
Custom Virtual Machine (VM): M1 allows the deployment of custom VMs, enabling developers to create blockchain applications optimized for specific needs.
High Performance: M1 is powered by the Movement SDK, which employs modular MoveVM technology, seamlessly integrating with AvalancheGo (the decentralized messaging layer of Avalanche). This ensures robust security and stability across a network of 1,240 validators.
EVM Compatibility: M1 supports Ethereum Virtual Machine (EVM)-based applications through the Fractal tool, enhancing security to prevent potential vulnerabilities.
3.2 M2 – Advanced Layer 2 Blockchain
M2 is a Layer-2 blockchain compatible with the Sui Network ecosystem, running as a Celestia Rollup using the Move programming language.
Interactive infrastructure for top platforms like Perlane.
Movement Shared Sequencer: A decentralized transaction sorting tool that provides seamless compatibility across all Move-based blockchains and ecosystems.
Move Stack: An execution layer framework compatible with leading Layer-2 solutions like Optimism, Polygon, and Arbitrum.
4. Key Features
Unified Ecosystem: Movement integrates multiple blockchain ecosystems, allowing developers to collaborate easily and unleash infinite creativity.
Accessibility First: Designed to simplify blockchain technology for both technical and non-technical users, promoting inclusivity and wider adoption.
Strong Connectivity: Provides robust interoperability, facilitating cross-platform collaboration and innovation, building a tightly connected and impactful ecosystem.
5. Team
Movement is led by Movement Labs, a blockchain development company based in San Francisco, founded by Rushi Manche and Cooper Scanlon.
Rushi Manche (Co-founder and CEO):
Former Aptos software engineer and founder of Ensemble (AI education platform).
Left Vanderbilt University in November 2022 to establish Movement Labs.
Cooper Scanlon (Co-founder and CEO):
Similar to Rushi, Cooper also dropped out of Vanderbilt University and co-founded Movement Labs.
He plays a critical role in the management and development of the project.
6. Investors
With support from well-known investment firms, Movement Labs has successfully raised $41.4 million through three funding rounds:
Seed Round Financing (September 13, 2023): Led by Borderless Capital, Blizzard Fund, dao5, and Varys Capital, raising $3.4 million.
Series A Financing (April 25, 2024): Raised $38 million led by Polychain Capital, with follow-on investments from Aptos, OKX Ventures, Bankless Ventures, Figment Capital, etc.
Financing Round (May 1, 2024): Binance Labs announced a strategic investment to expand the ecosystem of the Move programming language.
7. Similar Projects
Movement is often compared to Layer 1 or infrastructure platforms such as:
SUI, APT
Both leverage the Move programming language to provide high compatibility and performance for dApps.
8. Overview of MOVE Token
8.1 MOVE Token Basics
Token Name: Movement
Token Symbol: MOVE
Blockchain: Ethereum
Smart Contract: 0x3073f7aAA4DB83f95e9FFf17424F71D4751a3073
Listing Date: December 9, 2024
Total Supply: 10,000,000,000
Max Supply: 10,000,000,000
Circulation: 2,200,000,000
8.2 MOVE Token Allocation
Ecosystem and Community (40%)40% of the total supply of MOVE is used to promote ecosystem development, as follows:
Staking Rewards: Used to reward validators on the Movement network.
Ecosystem Development: Funding support for dApp development teams on the Movement network based on project progress and milestones.
User Incentives and Liquidity: Encouraging user participation in the network and providing liquidity support for DeFi protocols within the ecosystem.
Airdrop (10%)10% of MOVE tokens will be airdropped to the community through activities like MoveDrop.
The allocation will be fully unlocked at TGE and distributed via the Ethereum network.
Foundation (10%)10% of MOVE is reserved for the Movement Network Foundation, responsible for overseeing network operations and coordination.
Early Contributors (17.5%)17.5% of MOVE is allocated to early contributors from Movement Labs, involved in engineering, product development, marketing, community building, business strategy, and more.
Investors (22.5%)22.5% of MOVE is allocated to strategic investors who provided financial and advisory support in the early stages of the project.
8.3 MOVE Token Issuance Plan
Five years after the TGE (Token Generation Event), the entire MOVE token supply will be fully unlocked.
8.4 Applications of MOVE Token
The MOVE token is not just an asset within the Movement ecosystem; it is crucial for ensuring security and decentralization:
Gas Fees: MOVE is used to pay gas fees within the Movement network.
Staking: MOVE can be staked with validators to secure and maintain network operation.
Governance: MOVE holders can participate in governance, making decisions about network parameters and development strategies.
9. Potential
9.1 Advantages of Movement
Move Programming Language: Move leverages Move, a programming language designed for high security and performance. Move supports well-known blockchains like Sui and Aptos, instilling confidence in developers.
Layer 1 and Layer 2 Support: Movement offers two core products, M1 (Layer 1) and M2 (Layer 2), supporting a variety of dApps from DeFi to GameFi while ensuring scalability and multi-chain compatibility.
Interoperability Technology: Movement integrates MoveVM and EVM, facilitating developers transitioning from Ethereum to the Movement network.
Comprehensive Ecosystem: By integrating various blockchain platforms, Movement creates a diversified ecosystem with seamless connectivity, attracting developers, enterprises, and DeFi projects.
Strong Backers: Movement has raised $41.4 million from top funds like Binance Labs, Polychain Capital, Aptos, and OKX Ventures, ensuring financial stability and community trust.
Low Inflation: The MOVE token has a relatively low inflation rate compared to similar projects, with 22% of the total supply released at TGE, reducing inflationary pressure over the next five years.
9.2 Challenges Faced
Intense Competition: Movement faces direct competition from major Move-based platforms like Sui and Aptos, as well as other Layer 1 and Layer 2 solutions like Ethereum, Arbitrum, and Optimism.
Developer and dApp Adoption: The success of Movement largely depends on attracting developers and high-quality dApps, which requires a robust and effective ecosystem growth strategy.
10. Conclusion
This article introduces you to what Movement is. Overall, Movement has many advantages that make it a promising blockchain platform. However, it also faces numerous challenges, such as intense competition from established platforms, pressure to attract developers, and high expectations from the community.
If Movement can effectively execute its plans, build a sustainable ecosystem, and nurture a large user community, then Movement Network has the potential to become a leading blockchain platform, competing on equal footing with major projects like Sui, Aptos, and Ethereum Layer-2 solutions.