Movement Network Foundation is an organization dedicated to driving innovation and promoting MoveVM technology, today announced the successful launch of the Movement Labs Movement Mainnet Beta and the $MOVE token generation event (TGE), marking an important milestone in the successful integration of the first Move-based blockchain with Ethereum.
The launch of the Mainnet Beta represents the first stage of Movement's production infrastructure. In this stage, infrastructure providers can deploy basic network components including follower nodes, RPC nodes, and indexers. Network operators will focus on two key tasks: ensuring the network is properly synchronized and verifying security measures. This managed launch environment lays the foundation for Movement's innovative "postconfirmations" mechanism, which can achieve transaction finality in as little as one second - much faster than existing Ethereum scaling solutions, which may take minutes or even days.
The Movement Foundation is launching the $MOVE token through its MoveDrop program, distributing up to 1 billion MOVE tokens (10% of the maximum supply) to the community. MoveDrop rewards meaningful participation and genuine technical contributions, aiming to build a community-driven network where token holders can actively participate in protecting the network infrastructure and governance, reflecting Movement's commitment to a sustainable ecosystem.
Unlike isolated next-generation Layer 1 blockchains, Movement introduces a solution aimed at enhancing Ethereum's possibilities. Movement integrates directly with Ethereum, leveraging its powerful network effects and security, while expanding the pool of secure and innovative applications. Through Movement, all Move developers naturally become Ethereum developers.
"The unique aspect of Movement is our vision for the true utility of Ethereum," said Rushi Manche, co-founder of Movement Labs. "By bringing the Move language into the EVM, we are not just creating another L2, but building a bridge that transforms every Move developer into an Ethereum developer, significantly expanding the potential of the ecosystem."
The core appeal of Movement lies in the Move programming language, developed for Meta's Diem project, which is praised for its enhanced security and expressive capabilities. Move's resource-oriented programming model aims to ensure secure and vulnerability-free smart contract development, eliminating over 90% of audit-priority attack vectors.
"The power of Movement is in our active community of over 800 builders and 840 contributors who have joined us on this journey," said Cooper Scanlon, co-founder of Movement Labs. "The Mainnet Beta launch and MoveDrop are aimed at empowering developers and users to shape the future of Ethereum scaling together. Whether you're building on the Movement Network, testing new protocols, creating content, or participating in governance, there is a place for you in our ecosystem."
To celebrate this milestone, the Movement Network Foundation also announced its first Non-Fungible Token (NFT) program - a community-driven competition to create official commemorative artwork for the Mainnet Beta launch.
"Our community is crucial in building Movement, so it's only fitting that they create the artwork to commemorate this historic moment," added Scanlon. "This genesis NFT will be a testament to the creativity of our ecosystem." The winning design will be minted as Movement's first NFT, and the top three submissions will receive $1,000 prizes.
To learn more about Movement Labs and its Mainnet Beta, visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn, and @Move_Collective on Twitter.
About Movement Labs
Movement Labs develops the Movement Network, a modular Move-based blockchain ecosystem. The company is creating the first Move Virtual Machine L2 for Ethereum and providing open-source tools to facilitate the adoption of Move on blockchains. Their platform enables developers to easily launch high-performance Move VM rollups, bridging the Move and EVM ecosystems. Through the Move Collective, their accelerator program, Movement Labs has incubated over 12 innovative projects and teams, driving the continuous growth of Move-based applications. Movement Labs has raised $38 million in Series A funding, powering the development of Move-based technology and blockchain interoperability in Web3.
Follow Movement Labs on X and Discord for the latest updates.
About Movement Network Foundation
Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to driving innovation and promoting the adoption of MoveVM technology. The foundation is responsible for the development of the Movement Network, a cutting-edge Layer 2 solution built using MoveVM, settling to Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors in building the next generation of decentralized applications. To learn more, visit movementfdn.xyz or follow @movementfdn on X.
