Movement Foundation Launches Mainnet and MOVE Token, Announces $960 Million Airdrop
The Movement Network Foundation has unveiled its highly anticipated Movement Mainnet and native MOVE token, marking a significant milestone for the Ethereum Layer-2 ecosystem built on the Move programming language.
Launched on December 9, 2024, the Movement Mainnet presents a creative Ethereum scaling method with original methodology. Rushi Mande, co-founder, underlined the main goal of the project: using the strengths of the Move programming language to solve issues with ecosystem development.
MOVE Token and Airdrop
The “MoveDrop” represents a substantial token generation event, distributing 1 billion MOVE tokens—10% of the total supply—to early users and community participants. The initial token launch has already made waves in the crypto market, with MOVE trading at around $0.726 and achieving a market capitalization of approximately $1.3 billion.
Movement Network’s Key Goals
Using the Move Virtual Machine—which provides one-second transaction finality and Ethereum network settling—the network sets itself apart. Movement Labs stresses that this is a special blockchain architecture with improved security aspects, not merely another Layer 2 solution.
The Movement Mainnet has outlined three primary objectives:
- Enhancing DeFi Security: Addressing the critical issue of blockchain vulnerabilities, with Mande noting that the industry loses $4.5 billion annually to security breaches.
- AI and Blockchain Convergence: Supporting innovative projects like Axle, which are developing AI agents within the Movement ecosystem.
- Mobile-First Approach: Focusing on mobile technology to drive Web3 adoption, particularly among younger generations and in developing markets.
Emphasizing node providers, RPC nodes, and network indexers, the mainnet beta release marks the initial step of infrastructure deployment. Movement Labs regards this as a turning point in growing the Move ecosystem and linking developers to Ethereum. The aim is to create “a vibrant ecosystem” that can draw well-funded applications and foster a devoted community around the Move programming language, as Mande simply put it.
MOVE Token Allocation Breakdown
- 10%: Community Airdrop
- 12.5%: Movement Network Foundation
- 22.5%: Early Backers
- 17.5%: Early Contributors
- 40%: Ecosystem and Community Rewards
Major exchanges including Coinbase and Binance have already listed MOVE, with support from prominent Asian exchanges like Upbit and Bithumb. The token’s initial trading performance has been notable, reflecting significant market interest. At the time of writing, Movement (MOVE) is trading around $0.96, up by over 45% in the past 24 hours, with a market cap of $2.2 billion.
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