Source: Movement Network Foundation; Compiled by: Wuzhu, Jinse Finance
With the upcoming launch of the Movement Network public mainnet, the Movement Network Foundation now introduces $MOVE – which will be used to achieve the long-term goals of the Movement Network.
The Movement Network public mainnet is the first Move blockchain based on Ethereum, designed to provide high TPS, greater security, and near-instant finality.
Movement improves the Ethereum ecosystem by introducing Move's outstanding security features as well as the diversity of new developers and applications to the world-leading smart contract platform. $MOVE will be used to achieve the goals of the network foundation.
As we approach the $MOVE token generation event ("TGE"), we now introduce the utility and tokenomics of $MOVE:
Token Distribution
$MOVE has a maximum supply of 10,000,000,000 tokens, with an initial circulating supply of approximately 22%. $MOVE will be available on the Ethereum mainnet and represented in ERC-20 format. As the Movement Network public mainnet launches, $MOVE will also be launched on the Movement Network.
The majority of $MOVE (60%) will be allocated to the network community—covering the ecosystem and community, foundation, and initial claims portion.
Ecosystem + Community (40%)
40% of $MOVE tokens are reserved for the ecosystem.
Staking Rewards: Reserved for future distribution of validator rewards on the network.
Ecosystem Plans: Reserved for future grants to teams on the network. Grants are awarded based on the completion of certain predefined milestones.
Incentives and Liquidity Provision: Reserved for future allocation of incentives for using the Movement Network and to provide liquidity to guide the Movement Network DeFi ecosystem.
Initial Claims (10%)
10% of $MOVE tokens will be distributed to the Movement Network community through MoveDrop and other initial claims activities.
Foundation (10%)
10% of $MOVE tokens are reserved to support the ongoing operations of the Movement Network Foundation, as they manage the growth, development, and decentralization of the Movement Network Foundation.
Early Contributors (17.5%)
17.5% of the $MOVE tokens are reserved for early contributors of the Movement Network—primarily from Movement Labs. These early contributors come from engineering, product, community and marketing, business development, strategy, and other workflows.
Early Supporters (22.5%)
22.5% of $MOVE tokens are reserved for early supporters of the Movement Network—those who provided financial, consulting, and strategic support to the Movement Network.
Token Utility
$MOVE is the utility token of the Movement Network ecosystem and will be used to achieve the long-term goals of the network. The Movement Network aims to develop various utilities for $MOVE, including the following:
Staking for Economic Security
The Movement Network aims to introduce a novel fast finality mechanism, creating alternatives for validity and optimistic rollups. Fast determinism will be enabled by a set of validators who stake $MOVE to confirm the correctness of the Movement Network state. In exchange for providing this economic security, active validators will receive $MOVE staking rewards.
Gas Fees
Gas fees on the Movement Network public mainnet L2 are priced and paid in $MOVE, part of which is used to pay rent for settling transactions on the Ethereum mainnet. In the future, when teams build L2 using MoveStack, these L2s are also expected to use $MOVE to pay gas fees.
Governance and Decentralization
Through $MOVE, we expect the community to play a key role in the decentralization of governance in the Movement Network over time. Holders will be able to propose governance proposals and vote on them to change certain network parameters and participate in future community initiatives.
Native asset on the Movement Network
$MOVE is expected to become the native asset of the Movement Network. Applications built on the Movement Network can utilize $MOVE for:
Asset Liquidity
Collateral
Payments
Roadmap
The TGE strategy of the Movement Network emphasizes the importance of launching $MOVE, which is the native token of the Movement Network ecosystem with the aforementioned features. In this process, we created the foundational utility that our network relies on and ensured that users have the necessary resources to effectively participate in the Movement Network after launch.
As part of the launch of $MOVE, we are beginning to establish economic security through the introduction of liquid deposit contracts. This process is an integral part of guiding network security and is intended to be executed in multiple stages starting from the TGE and continuing after the launch of the Movement Network public mainnet.
Mainnet Genesis: Network generation, selected node operators will be able to run follow nodes.
Deposit contracts on the Ethereum mainnet: Begin establishing economic security by allowing users to deposit $MOVE on the Ethereum mainnet into liquid deposit contracts.
Bridge $MOVE to Movement Network: Facilitate the transfer of $MOVE to Movement Network.
Join Validators: Select and join validators that help secure the network.
Enable Staking: Open full staking functionality to a broader user base.
Add Penalty Mechanism: Implement penalties for malicious behavior to maintain network integrity.
After the launch of the Movement Network public mainnet, other roadmap projects will follow:
MoveStack
Shared Sequencing
MEVM
Multiple Staking
Conclusion
The Movement Network represents a significant evolution of the Ethereum ecosystem, bringing Move's outstanding security guarantees to the world's leading smart contract platform. With over 200 teams building on the Movement Testnet and a thriving ecosystem, $MOVE will play a crucial role in realizing our vision for a safer and more efficient L2 solution. By combining Move's built-in security advantages with Ethereum's network effects, the Movement Network is enhancing Ethereum through next-generation smart contract capabilities.