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Movement Network Foundation Launches Beta for Movement Mainnet

The Movement Network Foundation has announced the successful launch of the beta version of the Movement Mainnet and the Token Generation Event (TGE) for the $MOVE token. This groundbreaking event marks a significant milestone for the first blockchain based on Move technology, built directly on Ethereum.

The beta launch represents the initial phase of Movement’s production infrastructure. During this phase, essential network components such as follower nodes, RPC nodes, and indexers can now be deployed by infrastructure providers. Network operators will focus on two key tasks: ensuring the network is properly synchronized and validating its security measures. This managed launch environment lays the groundwork for Movement's innovative 'post-confirmations', which enable transaction finality in just one second, a stark contrast to existing Ethereum scaling solutions that may take minutes or even days.

Through the MoveDrop program, the foundation has launched the $MOVE token, distributing up to one billion tokens (10% of the maximum supply) to its community. This rewards meaningful participation and genuine technical contributions, aiming to build a community-driven network where token holders can actively engage in securing the infrastructure and governance of the network, emphasizing Movement's commitment to developing a sustainable ecosystem.

Unlike new-generation layer 1 blockchains that operate in isolation, Movement introduces a solution designed to enhance Ethereum’s capabilities. By integrating directly with Ethereum, Movement leverages its robust network effects and security, thereby expanding the array of secure and innovative applications available. "What sets Movement apart is our vision of true utility within Ethereum," said Rushi Manche, co-founder of Movement Labs. "By bringing the Move language to the EVM, we're not just creating another L2; we're building a bridge that transforms every Move developer into an Ethereum developer, drastically broadening the ecosystem's potential."

At the heart of Movement's appeal lies the Move programming language, which was developed for Meta's Diem project and is renowned for its superior security and expressiveness. The resource-oriented programming model of Move aims to ensure safe, error-resistant smart contract development, eliminating over 90% of the attack vectors prioritized by auditors.

“The strength of Movement lies in our vibrant community of over 800 builders and more than 840 contributors who have journeyed with us,” noted Cooper Scanlon, co-founder of Movement Labs. "The Mainnet Beta and MoveDrop launch empowers developers and users to shape the future of Ethereum scaling. Whether building on Movement Network, testing new protocols, creating content, or participating in governance, there is a role for everyone in our ecosystem."

To celebrate this significant milestone, the Movement Network Foundation has also launched its first NFT initiative—a community-driven competition to create the official commemorative artwork for the Mainnet Beta launch. “Our community has been essential in building Movement, so it makes sense for them to create the artwork that commemorates this historic moment,” Scanlon added. The winning design will become the first NFT of Movement, and the top three entries will receive $1,000 in prizes.

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

About Movement Labs

Movement Labs is developing the Movement Network, an ecosystem of modular blockchains based on Move. The company is creating the first Move Virtual Machine Layer 2 for Ethereum, along with open-source tools to promote the adoption of Move across all blockchains. Its platform enables developers to easily launch high-performance Move VM rollups, bridging the Move and EVM ecosystems. Through the Move Collective, their accelerator program, Movement Labs has supported over 12 innovative projects and teams, fostering a growing ecosystem of Move-based applications. Backed by $38 million in Series A funding, Movement Labs is advancing Move-based technologies and blockchain interoperability in Web3.

Stay updated with Movement Labs on X and Discord for the latest news.

About Movement Network Foundation

The Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to fostering innovation and advancing the adoption of MoveVM technology. The foundation oversees the development of the Movement Network, a cutting-edge Layer 2 solution built with MoveVM on Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors building the next generation of decentralized applications. For more information, visit movementfdn.xyz or follow @movementfdn on X.