Movement Network launches $MOVE Token, attempting to bridge the Move ecosystem with Ethereum

With the upcoming launch of the Movement Network Mainnet, the Movement Network Foundation announces the official release of its native coin $MOVE. Movement Network prides itself as the first Move language blockchain integrated with Ethereum, offering high transaction speed (TPS), improved security, and near-instant finality.

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$MOVE Token Basic Information

Ticker: $MOVE

Maximum supply: 10 billion coins

Circulating Supply Ratio: about 22%

Allocation ratio: Community accounts for 60%

Token standards: Ethereum ERC-20 and Movement Network native Token (to be launched soon)

$MOVE Token Distribution

Community allocation (60%) - Ecosystem and community (40%): used for stake rewards, developer subsidies, and Liquidity support - Initial application (10%): including activities such as MoveDrop - Foundation (10%): used to support the operation and decentralized development of the network

Early supporters and contributors (40%) - Early contributors (17.5%): including technical, product, and community development teams - Early supporters (22.5%): including financial, strategic, and advisory supporters

$MOVE Token Functionality

1. Economic Security: By staking $MOVE, validators provide economic security to the network and receive rewards.

2. Transaction Fuel: On Movement Mainnet, $MOVE serves as the fuel Token, with a portion of the cost used to pay Ethereum Mainnet Transaction Cost.

3. Governance and Decentralization: $MOVE holder can participate in governance proposals and future community activities to promote network participation.

4. Native Assets: Applications on the Movement network can use $MOVE for asset Liquidity, collateral, and payments.

$MOVE Token Roadmap

Genesis Mainnet: Node operation started

Deposit contract: Building economic security on Ethereum Mainnet

Cross-Chain Interaction feature: achieve the transfer of $MOVE between two networks

Validators Online: Selecting and Recruiting Verification Nodes

stake enabled: open full stake function

Punishment Mechanism: Introducing penalties to maintain network integrity

In the future, features including MoveStack, Shared Sequencing, and Multi-Staking will be launched to further strengthen the network infrastructure.

Movement is recruiting test teams

Movement Network has recruited more than 200 teams to join its test network to improve the security and efficiency of the Ethereum ecosystem, using $MOVE as a key driving force. By combining the built-in security features of Move with the network effect of Ethereum, it brings new opportunities for global smart contract innovation.

This article introduces the Movement Network's $MOVE Token, attempting to bridge the Move ecosystem with Ethereum, which was first reported by Chain News ABMedia.