- Movement developers have announced a token generation event for the native token as well as the project’s mainnet beta.
- Important components such as indexers and RPC nodes are deployed during the mainnet beta, the first phase of Movement’s infrastructure establishment.
The token creation event for the native token and the project’s mainnet beta were announced by Movement developers.
The initial stage of Movement’s infrastructure is launched by the mainnet beta, during which time infrastructure providers set up necessary parts including indexers, RPC nodes, and follower nodes.
The project’s development company, Movement Labs, emphasizes that Movement is the first blockchain created using proofs that settle on the Ethereum network and the Move programming language. The company claimed that through a procedure known as “post-confirmations,” this architecture offers enhanced security and quick transaction finality.
Move language, which is well-known for its security characteristics, supports the construction of secure applications by reducing common smart contract risks.
We’re not merely adding another L2 by integrating the MOVE language into EVM; rather, we’re constructing a bridge that turns every Move developer into an Ethereum developer, significantly increasing the ecosystem’s potential.
Manche notes that although Ethereum is used for security, the network is not a Layer 2 chain and is more appropriately characterized as a sidechain or a quick finality rollup.
During this mainnet beta phase, post-confirmation technology is introduced for quick transaction finality, with an emphasis on network synchronization and security validations.
The Movement Network Foundation, which provides funding for the project’s development and administration, has specified how the 10 billion tokens will be divided among different categories, with ecosystem and community projects receiving 40% (4 billion tokens).
Ten percent (1 billion tokens) of the overall token supply will remain with the foundation. 17.5% (1.75 billion tokens) will go to early contributors, and 22.5% (2.25 billion tokens) will go to backers. 10% of the supply will be given to community members by the foundation in an upcoming airdrop known as the MoveDrop.
In April, Movement Labs raised $38 million in its series A round, led by Polychain Capital and with additional funding from Binance Labs.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
