Movement Network Foundation Launches Public Mainnet Beta with Over $250 Million TVL
Movement Network Foundation Launches Public Mainnet Beta with Over $250 Million TVL
The Movement Network Foundation has officially launched the beta version of its Public Mainnet, reaching an impressive total value locked (TVL) exceeding $250 million through its Cornucopia program. This significant milestone allows users to engage with smart contracts in an unauthorized manner for the very first time, paving the way for widespread adoption of the Movement Network, which uniquely supports Ethereum payments.
Cooper Scanlon, co-founder of Movement Labs, expressed that achieving a TVL of over $233 million through Cornucopia reflects the market's confidence in Movement. He emphasized that this remarkable level of liquidity available right from the start is rare for any new network. As a result, it provides Movement, its developers, and community members with a substantial advantage, enabling them to skip the usual lengthy bootstrapping phase and directly offer the necessary foundation for significant DeFi adoption and usefulness.
Cornucopia offers substantial liquidity from day one in BTC, ETH, MOVE, and stablecoin assets, addressing one of the primary challenges new networks encounter: the 'cold start' problem. The financial stability provided by partnerships with industry leaders such as Concrete, Veda Labs, Echelon, and Canopy gives Movement the capability to support sophisticated DeFi applications right from the outset.
Key Features of Public Mainnet Beta
Movement Network is characterized by a secure and scalable framework based on Move chains, ensuring secure execution environments through the Move programming language, originally developed by Meta. The Public Mainnet Beta introduces a series of significant features:
- - Unauthorized Smart Contract Deployment: Developers can now deploy smart contracts without needing pre-approval.
- - Comprehensive User Onboarding and Engagement: The system is designed for seamless user participation.
- - Block State Attestations: These will be committed to Ethereum as part of Movement's Fast Finality Settlement.
- - Canonical Movement Bridge through LayerZero: This bridge facilitates the smooth transfer of tokens across chains.
Rushi Manche, co-founder of Movement Labs, added, “The Public Mainnet Beta opens the door for developers to deploy smart contracts without approval and allows user interactions with the Movement ecosystem freely.” This launch signifies a transformative era for Move-based technology, merging robust security with enhanced performance alongside Ethereum's network effects.
The planned canonical Movement bridge will utilize LayerZero, enabling users to transfer MOVE (the native gas token of the network), USDT, USDC, wBTC, wETH, and more seamlessly across the Movement chain. As the ecosystem progresses, the Movement Network Foundation will continue to release additional features.
For more information about the Movement Public Mainnet Beta and the Movement Developer Mainnet, visit movementnetwork.xyz. You can also follow them on X (formerly Twitter) at @movementlabsxyz, @movementfdn, @moveecosystem, and @Move_Collective.
About Movement Network Foundation
The Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to promoting innovation and widespread adoption of MoveVM technology. The foundation oversees the development of the Movement Network, an advanced solution built using MoveVM and based on Ethereum. Through initiatives like MoveDrop, it supports developers, projects, and community collaborators that create decentralized applications. For more details, visit movementfdn.xyz or follow @movementfdn on X.
Topics Business Technology）
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