According to ChainCatcher news, the Movement Network Foundation has announced the tokenomics of its $MOVE token, with a total supply of 10 billion and an initial circulating supply of approximately 22%. 60% of the total supply will be allocated to the community, including the ecosystem and community, the foundation, and the initial claim.
The specific allocation is as follows:
Ecosystem and Community: 40%
Initial Claim: 10%
Foundation: 10%
Early Contributors: 17.5%
Early Investors: 22.5%
The $MOVE token 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 have its TGE on the Ethereum mainnet. After the mainnet goes live (coming soon), $MOVE holders will be able to migrate cross-chain to the Movement Network. The gas fees of the Movement Network will be settled in $MOVE, and the use cases for the $MOVE token include: economic security staking, gas fees, governance and decentralization, and being the native asset of the Movement Network.
