Movement Network Foundation announces $MOVE tokenomics, with 60% allocated to the community

The Move language infrastructure Movement Network Foundation announces the tokenomics of its token $MOVE, with a total supply of 10 billion, an initial circulation of about 22%, and 60% of the total will be allocated to the community, including ecosystem and community, foundation, and initial allocation.

The specific allocation is as follows:

Ecosystem and Community: 40%

Initial Allocation: 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 will not be able to participate in staking in the early stages.

The Movement Network Foundation states that the $MOVE token will undergo TGE on the Ethereum mainnet. After the mainnet launch (which is coming soon), $MOVE holders can migrate across chains to the Movement Network. The Gas fees for the Movement Network are settled in $MOVE, and the use cases for the $MOVE token include: economic security staking, Gas fees, governance and decentralization, and the native asset of the Movement Network. #crypto2023A