What is Movement (MOVE)?
Project Overview
Movement Network is a pioneering blockchain ecosystem designed to merge the security of the Move programming language with Ethereum’s liquidity. As the first Move-EVM Layer 2 (L2) for Ethereum, Movement offers developers a high-performance platform to create secure, scalable, and interoperable decentralized applications (dApps). This innovative solution bridges the gap between Move and Ethereum ecosystems, enhancing user experience and blockchain capabilities.
Mission and Value Proposition
At its core, Movement seeks to enhance blockchain accessibility by merging the best of Move and Ethereum ecosystems. The mission revolves around:
- Bridging Move and EVM: Through the innovative Move-EVM (MEVM) compatibility layer, Movement enables seamless integration between the two ecosystems.
- Empowering Developers: The network’s robust infrastructure and developer-friendly tools provide a fertile ground for creating scalable appchains and high-throughput decentralized applications.
- Enhancing Interoperability: Movement fosters a modular blockchain environment where networks coexist, offering unparalleled scalability and user accessibility.
The project’s value lies in its ability to integrate cutting-edge technologies like MoveStack and the Fractal interpreter, ensuring high throughput (30k+ TPS) and enhanced smart contract safety. This makes Movement a game-changer for blockchain interoperability and innovation.
Movement Network
Key Aspects
Movement Network stands out with its advanced features, including:
- 30,000+ TPS via parallel processing with Block-STM.
- Smart contract security through Move mitigating traditional vulnerabilities, reducing attack risks.
- Fractal interpreter enabling Solidity contract compilation on MoveVM for interoperability.
- Modular frameworks for customizable rollups using the Movement SDK.
Consensus Mechanism
Movement Network employs a fast-finality settlement mechanism supported by validators staking $MOVE. This approach offers a secure and efficient alternative to traditional rollups, enhancing network reliability and performance.
$MOVE Token
Token Distribution
The $MOVE token has a maximum supply of 10 billion tokens, with an initial circulating supply of 2.25 billion (22.5% of the total supply) at the time of listing. The distribution model ensures a fair allocation across various stakeholders, including:
- Ecosystem and Community (40%): Includes staking rewards, grants for development teams, and incentives for DeFi ecosystem growth.
- Initial Claims (10%): Reserved for the community through programs like the MoveDrop and other onboarding initiatives.
- Foundation (10%): Supports the ongoing development, growth, and decentralization efforts of the Movement Network Foundation.
- Early Contributors (17.5%): Allocated to Movement Labs contributors who played key roles across engineering, product, and strategy.
- Early Backers (22.5%): Reserved for financial and strategic supporters during the network’s early stages.
Token Utility
The $MOVE token serves multiple purposes within the ecosystem:
- Staking for Economic Security: Validators stake $MOVE to support the network’s novel fast-finality settlement mechanism, ensuring economic security while earning staking rewards.
- Gas Fees: All transaction fees on the Movement Network Mainnet L2 are paid in $MOVE, with a portion allocated to settle transactions on Ethereum. Future L2s built with MoveStack are also expected to use $MOVE for gas fees.
- Governance and Decentralization: $MOVE holders can participate in governance by voting on proposals, helping decentralize decision-making and shaping the network’s future.
- Native Asset: Applications on the Movement Network leverage $MOVE for liquidity, collateralization, and payments, solidifying its role as the ecosystem’s core token.
MOVE HODLer Airdrops Details
Binance has allocated 200 million MOVE tokens (2% of the total supply) for the HODLer Airdrops program. Users who subscribed their BNB to Simple Earn Flexible or Locked products during the eligibility period will receive airdrops directly to their Spot Wallet.
- Listing Date: December 9, 2024, with trading pairs including MOVE/BTC, MOVE/USDT, and more.
- Total and Max Token Supply: 10 billion MOVE.
- Initial trading pairs: MOVE/BTC, MOVE/USDT, MOVE/BNB, MOVE/FDUSD, and MOVE/TRY.
- Circulating Supply Upon Listing: 2.25 billion MOVE.
- Additional Rewards: 5% of the total token supply allocated to Launchpool six months after the listing.
About Binance HODLer Airdrops
Participation: Terms & Conditions
To qualify for HODLer Airdrops, users must meet requirements such as:
- Users must subscribe to BNB Simple Earn Flexible or Locked products during the eligibility period.
- Account verification (KYC) is mandatory, and users must reside in eligible jurisdictions.
- Tokens are distributed retroactively based on historical BNB balance snapshots.
How to Benefit from HODLer Airdrops
- Head to Binance’s [Earn] section, choose BNB, and subscribe to Simple Earn Products.
- Binance takes hourly snapshots of BNB balances during the eligibility period.
- Rewards are distributed to Spot Wallets within 24 hours after the program ends.
Conclusion
Movement Network brings a transformative upgrade to Ethereum, combining Move’s superior security features with the network effects of the leading smart contract platform. With over 200 teams actively building on the Movement Testnet, $MOVE is central to creating a secure and efficient Layer 2 ecosystem.
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