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Movement Network Foundation Unveils Movement Mainnet Beta and $MOVE Token Generation Event

The Movement Network Foundation has recently announced the launch of its Movement Mainnet Beta alongside the Token Generation Event (TGE) for its $MOVE token. This development signals a pivotal moment in the evolution of blockchain technology, particularly as it relates to Ethereum integration.

Key Features of Movement Mainnet Beta

The Mainnet Beta rollout represents the initial phase of Movement's production infrastructure. In this phase, essential infrastructure components such as follower nodes, RPC nodes, and indexers will be deployed by infrastructure providers. The primary objectives during this phase include ensuring proper network synchronization and validating security measures.

What sets Movement apart is its revolutionary technology that enables "post-confirmations," allowing transactions to finalize within a mere second—far exceeding the timeframes of existing Ethereum scaling solutions, which can take considerably longer.

$MOVE Token Generation Event

Alongside the Mainnet Beta, Movement launches the $MOVE token through its innovative MoveDrop program. Up to 1 billion $MOVE tokens, constituting 10% of the total supply, will be distributed to the community. The MoveDrop initiative recognizes significant participation and technical contributions, thereby creating a strong community network where token holders can engage in securing the infrastructure and governance of Movement’s network.

Rushi Manche, co-founder of Movement Labs, highlights this initiative's significance: "Movement is introducing a solution designed to augment Ethereum's capabilities. By directly integrating with Ethereum, we not only leverage its established security but also expand the array of innovative applications available. Each Move developer effectively becomes an Ethereum developer, broadening the ecosystem's potential dramatically.”

The Importance of the Move Programming Language

The Move programming language—developed by Meta for the Diem project—is central to Movement’s appeal. Known for increased security and expressiveness, Move employs a resource-oriented programming model to ensure the robustness and safety of smart contracts, effectively eliminating over 90% of the attack vectors highlighted by auditors.

As Cooper Scanlon, another co-founder of Movement Labs, points out, “The strength of Movement lies in its vibrant community of over 800 builders and more than 840 contributors. The launch of Mainnet Beta and the MoveDrop initiative aims to empower developers and users alike to shape Ethereum’s scaling future.”

Celebrating the Launch

In celebration of this milestone, the Foundation has also launched its inaugural NFT initiative—a community-driven competition for creating the official commemorative artwork for the Mainnet Beta launch. "Our community has been instrumental in Building Movement. It’s only fitting that they create the artwork to celebrate this historic moment," Scanlon added. The winning design will not only become the first NFT for Movement but also comes with prizes for the top three entries.

For more information about Movement Labs and its Mainnet Beta, visit movementnetwork.xyz or follow them on Twitter at @movementlabsxyz, @movementfdn, and @Move_Collective.

About Movement Labs

Movement Labs is focused on creating the Movement Network, a modular blockchain ecosystem based on the Move language. The team aims to build the first Move L2 virtual machine for Ethereum and provide open source tools to facilitate Move adoption across various blockchain platforms. By bridging the capabilities of Move and EVM, the company empowers developers to create high-performing VM Move rollups seamlessly. With a Series A funding of $38 million, Movement Labs is pushing advancements in Move technology and blockchain interoperability in the Web3 space.

About Movement Network Foundation

The Movement Network Foundation serves as the driving force behind the Movement ecosystem, committed to promoting innovation and the adoption of MoveVM technology. The Foundation oversees the development of the Movement Network, a cutting-edge L2 solution built using MoveVM with an Ethereum settlement layer. Through its MoveDrop program and various ecosystem initiatives, it supports developers, projects, and community contributors building the next generation of decentralized applications. For further information, visit movementfdn.xyz or follow @movementfdn on Twitter.