What is Movement Network?

Project Overview

Movement Network is the first Layer 2 blockchain built on Ethereum using the Move language. It aims to deliver high TPS, enhanced security, and near-instant finality. By integrating the Move language with Ethereum’s EVM ecosystem, Movement Network introduces superior security features and application diversity to the leading smart contract platform, improving the Ethereum ecosystem as a whole.

Technology of Movement Network

MOVE Language

Most smart contracts in the market are currently written in Solidity. As one of the earliest smart contract languages, Solidity has first-mover advantages and significant flexibility at the language level. However, as DeFi evolves, Solidity’s limitations have become apparent, such as default public visibility for functions and a lack of error reporting for overflows, leading to many security vulnerabilities. Given the financial focus of most blockchain applications, a specialized language combining smart contract and financial scenario features may prove more effective.
Move offers several key features:

• Secure resource types to ensure the safety of on-chain digital assets
• Purely static language to avoid non-deterministic behavior
• Generic programming for language flexibility
• Formal verification to mathematically prove smart contract security

Many common security issues stem from low-level coding errors or overlooked language features, such as unlimited issuance bugs or the infamous DAO attack. Move significantly reduces these vulnerabilities, making contracts safer.

How It Works

Movement Network consists of a modular and configurable suite of Move Rollups, providing a platform for deploying interoperable, application-specific chains. Each Movement Rollup can utilize customized data availability layers, sequencing, and finality mechanisms while sharing a common MoveVM.
By sharing a universal modular architecture, the chains within the network can interoperate, share the same bridges and DA layer, and utilize a fast Rollup settlement mechanism for scaling and finalization on Ethereum.

This design allows customization and scalability with different components such as consensus algorithms, storage systems, or network protocols. The network is also horizontally scalable, handling large volumes of transactions and users by adding more nodes, and vertically composable, enabling interaction and integration with other blockchain systems like Polkadot or IPFS.
Potential use cases include:

• A social media platform leveraging Move’s custom logic and scalability to reward users for creating and sharing content (e.g., posts, videos, or podcasts).
• A gaming platform enabling users to create and play immersive, interactive games like RPGs, puzzles, or simulations using Move’s expressiveness and M1’s composability.

Funding Background and Roadmap

Funding Background

• 2023–9: Raised $3.4M in seed funding led by Varys Capital, dao5, Blizzard The Avalanche Fund, and Borderless Capital.
• 2024–4: Raised $38M in Series A funding led by Polychain Capital, with participation from Hack VC, Placeholder, Archetype, and Maven 11.

Roadmap

• Phase 1: Network genesis, MOVE token TGE, launch of liquid staking contracts.
• Phase 2: Mainnet launch, fast finality implementation, MOVE token staking.
• Phase 3: Expansion of MOVE Stack, MEVM, and shared sequencers.
• Phase 4: Multi-asset staking implementation.

MOVE Tokenomics

Token Distribution
The total supply of MOVE tokens is 10 billion, with an initial circulation of approximately 22%.

• Airdrop rewards: 10%
• Foundation: 10%
• Ecosystem and community: 40%
• Early contributors: 17.5%
• Investors: 22.5%

Token Utility
MOVE tokens serve as the native asset of the Movement Network, with use cases including staking, gas fees, decentralized governance, and more.
Staking Rewards
After the mainnet launch and staking activation, network validators can stake MOVE tokens to maintain network security and consensus while earning rewards.
Gas Fees
Similar to the Ethereum network, gas fees on the Movement Network are settled in MOVE tokens. All transactions and smart contract executions within the ecosystem consume MOVE tokens as gas.
Decentralized Governance
MOVE token holders can participate in Movement Network governance, proposing and voting on critical network parameter adjustments.
Native Asset
MOVE tokens also function as the native asset within the Movement Network, supporting scenarios such as liquidity provision, collateral, and payments.

Gate.io Now Supports $MOVE Spot Trading
For more details, see the announcement: https://www.gate.io/announcements/article/41322