Move Language Infrastructure Movement Network (MOVE) Token officially started trading today. Many major exchanges such as Coinbase, OKX, Upbit and Bithumb have announced that they will list trading pairs of this Token .
On November 26, the Movement Network Foundation announced the tokenomics model of the $MOVE Token .
$MOVE is Movement's utility Token , used to achieve the goals of the Movement Network Foundation.
60% of the total supply $MOVE will be allocated to the community, including the ecosystem and community, the platform and the initial claim distribution.
Features of Movement
Movement is the first Move blockchain based on Ethereum, providing higher security, high TPS, and near-instant finality.
Unlike most Ethereum L2s, $MOVE is Movement's native Token , used for gas payments and Staking.
https://www.movementnetwork.xyz/article/movement-foundation-move- Token
$MOVE Supply Allocation:
40% Ecosystem + Community
10% Initial Request
10% Foundation
17.5% Early Contributors
22.5% Early Investors
Total $MOVE supply: 1 billion, $MOVE initial circulation: ~22%.
The Token $MOVE will undergo TGE on the Ethereum Primary Network , as an ERC-20 Token . Once the Movement Primary Network launches (coming soon), holders of $MOVE can migrate chain chain to Movement.
$MOVE will be unlocked gradually over 60 months. Team and investors cannot participate in Staking in the first phase.
Use Cases of $MOVE Token
The Movement Network Foundation is committed to providing many benefits to $MOVE, including:
1. Economic security Staking
Once the Movement public Primary Network launches and supports Staking, validators will be able to Staking $MOVE. By providing economic security to Movement, active validators will receive $MOVE staking rewards.
2. Gas Price
Movement network Gas Price are priced and paid in $MOVE, with a portion of the fees used to settle transactions on Ethereum. In the future, L2 built on MoveStack may also use $MOVE to pay Gas Price.
2. Governance and Decentralization
In the future, the community will play an important Vai in the governance of the Movement Network. $MOVE holders can submit governance proposals and vote on network parameter adjustments.
2. Movement Network's Native Assets
$MOVE will become the native asset of the Movement Network and DApps on the Movement Network can use it for:
Asset Liquidation
Mortgage
Pay
More scenarios
Why release $MOVE before Mainnet launch?
The pre-release is intended to trigger the Postconfirmations mechanism.
This mechanism allows Movement to complete transactions in less than 1 second . To optimize the Postconfirmations mechanism in a real environment, it is necessary to establish economic security for $MOVE (via liquidation contract) before mainnet launch.
https://blog.movementlabs.xyz/article/postconfirmations-L2s-rollups-blockchain-movement
Movement combines the security of Move, the performance of MoveVM, and the network effects of Ethereum, bringing great strides to the Ethereum ecosystem. $MOVE will play a key Vai in realizing Movement's vision.
