EigenLayer plans to open token claims on May 10, 15% of the supply will be distributed as a pledge airdrop, and the newly established independent non-profit Eigen Foundation will become the entity issuing the tokens. The total supply of EIGEN tokens at the time of issuance is 1.67 billion.

Mode will launch its governance token MODE on May 7 with a total supply of 10 billion, of which 5.5% is dedicated to the first of two user airdrops. The second airdrop will last from May 5 to September 6, when another 500 million tokens will be distributed.

The Super Artificial Intelligence Alliance is scheduled to be launched on May 24. ASI is an alliance formed by the merger of Fetch.ai, SingularityNET and Ocean Protocol. The merger of the three has passed the proposal vote in various communities, and their tokens have also been converted into ASI in proportion.

Movement

Movement is a modular framework for building and deploying Move-based infrastructure, applications, and blockchains in any distributed environment. The team is building a suite of products and services that enable non-Move protocols to leverage the power of the Move programming language without writing a single line of Move code. The team's first release, M1, redefines L1 as a vertically composable and horizontally scalable layer 1 framework that is compatible with Solidity, connects EVM and Move liquidity, and allows builders to customize modular and interoperable application chains with different user bases and liquidity out of the box.

Move is a programming language originally developed by a Facebook team in 2019 for its now-defunct Diem project. Move is designed to handle smart contracts and transaction data in a secure manner, eliminating attack vectors native to other languages, such as reentrancy attacks.

MoveVM, the native execution environment for Move-based blockchains, leverages parallelization to provide faster transaction execution and greater overall efficiency.

Core flagship technology of M1 and M2

The product Movement Labs is currently building is a Zk-rollup based on Move. The solution leverages its flagship products M1 and M2, with M1 used as a shared sequencer layer and M2 as a rollup. M2 not only supports smart contracts written in Move, but also contains the EVM bytecode interpreter Fractal. M1 is a community-first blockchain that provides the highest possible TPS with Move, instant finalization, native zero-day access to massive liquidity, and modular customization. M1 will transform into a decentralized shared sequencer for the Movement Network for mainnet launch.

M2 will be the first Move Layer-2 on Ethereum. It will support Sui Move, Aptos Move, and our embedded EVM interpreter MEVM, enabling Sui, Aptos, and EVM users to use L2.

Shared sequence layer M1

M1 is the first blockchain of the Movement ecosystem, enabled by the Movement SDK. It is currently in the testnet stage for testing and development purposes. M1 is a permissionless blockchain based on Move, running as an Avalanche subnet.

M1 has a new consensus protocol - Snowman Consensus, a blockchain-optimized consensus protocol - high throughput, fully ordered, and very suitable for smart contracts. Snowman is a fully ordered implementation of the Avalanche consensus protocol. The platform chain (P-Chain) and the contract chain (C-Chain) both implement the Snowman consensus protocol. With the upgrade of Cortina, the transaction chain (X-Chain) will also use the Snowman consensus.

The M1 network is compatible with the Aptos network, and can quickly realize the migration and deployment of Move ecological projects, as well as the self-developed Move virtual machine and fractal architecture. Since M1 is a blockchain running on the Avalanche subnet, it uses a fractal expansion architecture called "Fractal". This architectural model allows M1 to achieve horizontal expansion by decomposing itself into multiple similar but smaller subnetworks ("fractals").

Each fractal subnet runs the complete M1 protocol stack, including consensus, execution, data and other modules. These fractal subnets communicate and coordinate through an efficient message passing layer. When the load of the entire system increases, new fractal subnets can be dynamically added to share the load.

zk-Rollup aggregation layer M2

M2 is a Layer 2 Sui-compatible blockchain enabled by the Movement SDK. M2 will be repurposed once M1 becomes Sui-compatible. It is currently in the testnet stage for testing and development purposes. M2 is a permissionless blockchain based on Move, currently running as a Celestia rollup.

The M1 network is for the construction and operation of the Layer1 network. It is the basis of the Layer1 execution layer that relies on the Avalanche subnet. M2 is the data execution layer for the Layer 2 network. This is the same product design concept as zkSync, StarkNet, and the Rollup series of projects in the Ethereum ecosystem. Movement is a Rollup project developed by Move, which is easier to understand. It also has advantages and special features developed in the Move language that the Ethereum network does not have.

Why choose Movement?

Digital assets are becoming increasingly important in technology and financial structures, and the Move programming language represents a beacon of innovation in this context, providing a novel resource model that promises to redefine digital asset management.

Differences between EVM and Move in digital asset management

First is the EVM's asset management approach to defining the asset standard for blockchains, which has indeed set the standard for the blockchain industry, with its approach centered around three key components: centralized asset logic, mutable state, and dynamic asset control. The framework has become synonymous with the development of a large number of diverse DApps, each of which leverages the unique capabilities provided by the Ethereum smart contract platform.

The EVM's groundbreaking approach to supporting smart contracts and decentralized applications also brings unique challenges to managing digital assets. These challenges mainly stem from the EVM's architecture and operating mechanisms, affecting the security, integrity, and trustworthiness of the assets managed within its ecosystem.

This is in stark contrast to Move's resource model, which introduces a resource-centric approach to digital asset management. Unlike the EVM's reliance on centralized asset logic and mutable state, Move's design is based on the principles of safety, security, and clear resource ownership. Resources in Move are treated as first-class citizens with built-in protection against duplicate and unauthorized access, ensuring that every asset has a clear owner at all times. This approach inherently mitigates many of the security issues associated with the EVM's centralized logic and mutable state by embedding strict ownership and immutability rules directly into the language's type system. The model is built on two fundamental pillars: linear ownership and immutable resources, which together aim to improve the security and efficiency of blockchain technology.

In Move, resources are special types of structures that are defined as non-copyable and must be explicitly transferred between accounts. This design decision is critical to maintaining the uniqueness of each asset and preventing common vulnerabilities such as unauthorized copying or loss. These resources are governed by strict type safety and access control mechanisms enforced by Move's virtual machine. This architecture ensures that every operation on a resource adheres to a secure, predefined protocol.

MoveVM, a new model for parallel transactions

Parallel blockchain technology shifts from traditional sequential processing to a model where transactions occur simultaneously, leveraging the power of modern multi-core processors. Parallelization significantly reduces transaction latency and improves the energy efficiency of the network. At the heart of this approach is a fundamental shift in blockchain networks, making them more scalable and efficient by allowing multiple transactions to be processed simultaneously. This not only overcomes the long-standing issues of latency and high transaction fees, but also heralds a new era of blockchain applications characterized by increased scalability and enhanced network performance.

The emergence of parallel execution and the development of platforms such as MoveVM are at the forefront of creating a new era of blockchain technology. In particular, parallel execution, enabled by innovative solutions such as MoveVM, is not only more accessible and efficient, but can also support a wider range of applications and services in the future, creating an environment suitable for innovation, growth and widespread adoption.

Parallel execution fundamentally changes the blockchain landscape by introducing a mechanism to process transactions simultaneously rather than in a linear order. This allows more transactions to be processed simultaneously, effectively reducing waiting time and increasing the capacity of the network. At the heart of this approach are advanced algorithms that coordinate the synchronous processing of transactions between nodes within the blockchain network. This orchestration can efficiently maintain the consistency and reliability of the blockchain, ensuring that the processing of transactions does not compromise the integrity of the network.

Parallel execution provides a range of enhancements to address long-standing inefficiencies and scalability issues. This approach introduces several key advantages.

• Alleviate network congestion: Alleviate traffic bottlenecks in the EVM memory pool.

• Optimize hardware utilization: Maximize the efficiency of multi-core processors.

• Enhanced scalability and speed: Accelerate transaction processing for DApps.

• Improved system integrity: Ensure transaction harmony and prevent conflicts.

By distributing transactions across multiple nodes for simultaneous processing, parallel execution effectively alleviates congestion within the Ethereum Virtual Machine (EVM) memory pool, especially during peak traffic periods. While leveraging the power of modern multi-core processors, computing resources are optimized to reduce energy consumption and increase processing speed.

The scalability and speed enhancements brought about at the same time are also efficient for decentralized applications (DApps). The reduction in transaction latency enables DApps to run more seamlessly, support a wider range of applications, and facilitate the expansion of the blockchain to accommodate a growing user base without sacrificing performance.

Finally, parallel execution introduces a complex protocol to manage and synchronize transaction processing, effectively preventing potential conflicts and ensuring the integrity of the blockchain. This transaction orchestration maintains the security and reliability of the network, while parallel execution marks an overcoming of the challenges of the traditional blockchain model, ensuring that the network can be highly efficient, scalable, and innovative in technological development.

Fractals and smart contract security

Fractal is a novel framework that seamlessly connects two well-known smart contract languages, Solidity and Move. Fractal allows developers to deploy Solidity contracts into Move bytecode, thus achieving compatibility with the Move chain while taking advantage of Move’s famous security features.

Movement Labs, the team behind Fractal, is committed to leveraging Move’s security capabilities to strengthen Ethereum and other platforms. When Fractal was launched, more than $5.82 billion in assets were lost due to hacking attacks in the DeFi field, of which $2.83 billion was lost due to bridge hacking attacks alone. The diversity of attack vectors, with unknown methods accounting for 17.82% and other methods accounting for 42.17%, highlights the significant need for Fractal security solutions.

Fractal leverages unique features of the Move language to address common vulnerabilities:

• Reentrancy: By ensuring that resources are uniquely accessed, Move eliminates typical paths for reentrancy attacks.

• Math Errors: Move's arithmetic operations include automatic checks for overflow and underflow to prevent such errors.

• Input Validation: Move’s type system and resource model enforce strict input checking, significantly enhancing safety.

Fractal aims to build a runtime environment in MoveVM that dynamically executes Solidity code. Combining the expressiveness of Solidity with the execution robustness of MoveVM, Fractal represents not only a solution but also a paradigm shift in securing the future of smart contracts.

Movement Capital Lineup

The Movement team has completed three rounds of financing, namely the Pre-seed round, seed round and A round of financing, and received a total of US$41.4 million.

The first financing event occurred on September 23, 2023, in the Pre-seed round, which completed a total of US$3.4 million. Participating institutions and investors included Varys Capital, George Lambeth, Double Peak Group, dao5, Calvin Liu, Borderless Capital, Blizzard Fund, and Anurag Arjun.

The second financing event occurred in the seed round of financing on January 10, 2024. The financing details of this round were not announced. Participating institutions and investors included Serafund, MH Ventures, George Burke, Eterna Capital, and Artichoke Capital.

The third financing event occurred in the strategic round A financing on April 24, 2024, which completed an amount of US$38 million. This round was led by Polychain Capital. Participating institutions and investors included Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5 and Aptos Labs. It also received an undisclosed financing information from Binance Labs.

Movement Team Background

Cooper Scanlon is the founder of Movement Labs. Cooper dropped out of Vanderbilt University after entering the blockchain space, realizing that formal education was not the key to his success and that he preferred building SPACDAO vehicles. This decision led him to pioneer the first yield aggregator leveraging Move, and ultimately to conceive and create Movement Labs. Cooper promotes cross-disciplinary collaboration, advocates for Web3 initiatives, and draws on his own experience to bring a unique blend of financial and technical expertise and economic systems insights to Movement Labs, guiding and leading its strategic and cultural direction.

Rushi Manche is the co-founder of Movement Labs. Rushi is an engineer who started his career in database and system security engineering at UnitedHealth Group. Rushi moved to Web3 and is a smart contract engineer in the Ethereum DeFi space and works closely with some of the Cosmos protocols on the decentralized file storage system within Cosmos. During the construction of Aptos, Rushi became a core contributor to the ecosystem, especially in the DeFi space, designing for the leading DEX in the ecosystem. After realizing the limitations of Aptos, Rushi and the Movement Labs core team set out to bring Move to Ethereum and democratize it.

Andy Bell is the Head of Engineering at Movement Labs, and was previously VP of Engineering at Biconomy, CTO at Ajuna. Tech entrepreneur, innovator, scientist and programmer. With insight and experience, he founded and led two successful startups. A natural programmer, he started writing code in assembly language and compiling by hand in the 80s. He graduated from the University of Nottingham.

Brian Henhsi is the Head of Strategy at Movement Labs, and previously worked at Sui/Mysten Labs and Chia. He graduated from Tsinghua University.

Torab Torabi is the BD and Growth Director of Movement Labs. He previously worked at Edge & Node and Fluid Finance. He graduated from the University of California, Berkeley.

will gaines is the Head of Marketing and Founder of Movement. He has worked as a brand consultant and marketing advisor, significantly expanding the reach of a variety of clients, achieving audience growth of over 200 million. His experience includes working with Fortune 500 companies, including Sony and ICM (now CAA), as well as key stakeholders in the Web3 space such as Consensus, and in the political sphere, where he served as a District Representative for the California State Senate.

Movement Ecosystem

Currently, more than 60 projects in the Movement ecosystem have been deployed in the test network, covering DeFi, Web3, blockchain games, infrastructure and other sectors to explore.

Movement Token Model

The Move token is currently being used throughout the Movement ecosystem as its native token. It is intended for use in the Move-EVM (MEVM) environment and is currently used for testing. MOVE on the MEVM currently requires a bridge, which is different from MOVE on M1 or M2.

MOVE is currently designated as a testnet token. It has the following properties:

• Testnet Usage: MOVE is designed for use exclusively in the M1 testnet environment and has no value outside of this testing environment.

• No Monetary Value: This token is for testing purposes only and does not represent any real-world monetary value.

• No Future Value Proposition: Holding MOVE tokens does not give you any ownership or distribution rights, nor does it guarantee that the tokens will have future value or utility in M1 or any other network.

• Limited functionality: MOVE’s functionality is limited to what is permitted within the confines of the M1 testnet and is subject to change as development progresses.

• Reset Risk: As part of the ongoing development and testing process, MOVE balances and transactions may be reset, changed, or cleared.

• Right to Modify: We reserve the right to modify, suspend, or terminate the testnet and MOVE tokens at any time without prior notice or liability.