#USA #Movement Network #Grand Cayman #MoveVM Technology #Public Mainnet

Movement Network Foundation Announces Launch of Public Mainnet Beta

The Movement Network Foundation has officially launched the Public Mainnet Beta of its Move-based blockchain. This groundbreaking announcement reveals that the platform has successfully locked more than $250 million in total value through its Cornucopia initiative. This achievement is a major milestone for the organization, which is dedicated to promoting the MoveVM technology.

The launch marks a significant step towards providing a permissionless environment for deploying smart contracts, enabling all users to engage freely within the Movement ecosystem. The new network stands out as the only Move-based blockchain utilizing Ethereum for settlement, thus combining the benefits of its underlying technology with the security and usability of Ethereum.

Cooper Scanlon, co-founder of Movement Labs, remarked, "Securing over $233 million in TVL from our Cornucopia program is a strong signal of the market's confidence in Movement. Achieving this level of liquidity right from the start is extraordinarily rare for a new network and gives us, our developers, and our community a substantial advantage. We can now skip several months of bootstrapping and lay a solid foundation required for meaningful DeFi utilization."

The Cornucopia program has facilitated critical liquidity for various asset types, including Bitcoin (BTC), Ethereum (ETH), MOVE tokens, and stablecoins. Addressing the cold-start problem commonly faced by new networks, the collaboration with industry leaders has afforded Movement a robust financial foundation that enables it to support complex decentralized finance (DeFi) applications right from inception.

Key Features of the Public Mainnet Beta

The Public Mainnet Beta of Movement Network showcases several groundbreaking features:

• - Permissionless Smart Contract Deployment: Developers can now deploy smart contracts without the need for approvals, fostering innovation and flexibility.
• - Full User Onboarding and Interaction: Users can freely interact with the Movement ecosystem, enjoying seamless access to decentralized applications.
• - Fast Finality Settlement on Ethereum: Block state confirmations are recorded as part of Movement's Fast Finality Settlement on the Ethereum network, providing quick and reliable finality.
• - Canonical Movement Bridge via LayerZero: This bridge allows users to transfer tokens such as MOVE, USDT, USDC, wBTC, and wETH seamlessly to the Movement blockchain.

Rushi Manche, another co-founder of Movement Labs, emphasized, "The launch of Public Mainnet Beta allows developers to deploy smart contracts without permission, and users can interact freely with the Movement ecosystem. This represents the dawn of a new era for Move-based technology, blending robust security with enhanced performance powered by the Ethereum network."

With the debut of the Public Mainnet Beta, the Movement Network Foundation plans to introduce additional functionalities as the ecosystem continues to develop. For more information about the Movement Public Mainnet Beta and to explore developer opportunities, interested parties can visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn, and @Move_Collective on Twitter.

About Movement Network Foundation

The Movement Network Foundation is a key player in advancing the Movement ecosystem, focusing on driving innovation and spreading the MoveVM technology. The foundation oversees the development of the Movement Network, a next-generation solution powered by MoveVM and reliant on Ethereum settlements. Through initiatives like the MoveDrop program, the foundation supports developers, projects, and community contributors who are charting the course for decentralized application development. For more insight into the foundation's efforts, visit movementfdn.xyz or follow @movementfdn on X.