Movement Network Foundation is committed to providing various utilities for $MOVE.

Today, we officially unveil $MOVE!

$MOVE is the utility token of Movement, used to achieve the goals of the Movement Network Foundation.

$MOVE Total supply of 60% will be allocated to the community, including ecosystem and community, foundation, and initial allocation distribution.

Now, let's dive deeper into $MOVE!

Video Link

First, let's review the features of Movement:

Movement is the first Move blockchain based on Ethereum, providing higher security, high TPS, and near-instant finality.

Unlike most Ethereum L2s, $MOVE is the native token of Movement, used for gas payments and staking.

$MOVE Token Distribution

  • 40% Ecosystem + Community

  • 10% Initial Allocation

  • 10% Foundation

  • 17.5% Early Contributors

  • 22.5% Early Investors

$MOVE Total Supply: 10 billion, $MOVE Initial Circulation: ~22%.

$MOVE tokens will have their TGE on the Ethereum mainnet, as ERC-20 tokens. After the launch of the Movement public mainnet (coming soon), $MOVE holders can migrate cross-chain to Movement.

$MOVE will gradually unlock over 60 months. The team and investors are not able to stake in the early stages.

$MOVE Token Use Cases

Movement Network Foundation is committed to providing various utilities for $MOVE, including:

1. Economic Security Staking

Once the Movement public mainnet is launched and supports staking, validators will be able to stake $MOVE. By providing economic security for Movement, active validators will earn staking rewards in $MOVE.

2. Gas Fees

The gas fees of the Movement network are denominated in $MOVE and paid, part of which will be used to settle transactions on Ethereum. In the future, L2s built on MoveStack are also expected to use $MOVE to pay gas fees.

3. Governance and Decentralization

In the future, the community will play a key role in the governance of the Movement Network. $MOVE holders can propose governance proposals and vote on network parameter adjustments.

4. Native Asset of Movement Network

$MOVE will become the native asset of the Movement Network, and DApps on the Movement Network can use it for:

  • Asset Liquidity

  • Collateral

  • Payments

  • More Scenarios

Why launch $MOVE before the mainnet?

This is to properly launch the post-confirmation mechanism.

The post-confirmation mechanism enables Movement to achieve transaction finality in as fast as 1 second (or even shorter). The post-confirmation mechanism of Movement requires pre-established economic security. By establishing the economic security of $MOVE (through liquidity deposit contracts) before the mainnet launch, we can optimize the post-confirmation mechanism in a real environment.

https://blog.movementlabs.xyz/article/postconfirmations-L2s-rollups-blockchain-movement

By combining the security of Move with the efficiency of MoveVM and Ethereum's network effects, Movement brings a significant leap to Ethereum. $MOVE will play a key role in realizing our vision, and we are excited about the future of the Movement Network!

More exciting content, stay tuned!

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