According to BlockBeats news on November 26, the Movement Network Foundation, which is focused on the Move language infrastructure, announced the token economics of its MOVE token. The total supply of MOVE tokens is 10 billion, with an initial circulation of about 22%. 60% of the total supply will be allocated to the community, including ecosystem and community, foundation, and initial claims. The specific allocations are as follows:
· Ecosystem and community: 40%
· Initial claims: 10%
· Foundation: 10%
· Early contributors: 17.5%
· Early investors: 22.5%
MOVE tokens will be gradually unlocked over 60 months, and the team and investors cannot participate in staking during the initial period.
The Movement Network Foundation stated that MOVE tokens will undergo TGE on the Ethereum mainnet. After the mainnet launch (which is coming soon), MOVE holders can migrate cross-chain to the Movement Network. The Gas fees on the Movement Network will be settled in MOVE, and the use cases of MOVE tokens include: economic security staking, Gas fees, governance and decentralization, and native assets of the Movement Network.