Source: Movement Network Foundation; Compiled by: Wu Baht, Golden Finance

With the upcoming launch of the Movement Network public mainnet, the Movement Network Foundation is now launching $MOVE – which will be used to implement the Movement Network long-term goals.

The Movement Network public mainnet is the first Ethereum-based Move blockchain, designed to provide high TPS, greater security and near-instant finality.

Movement improves the Ethereum ecosystem by bringing Move’s superior security features and the network’s diversity of new developers and applications to the world’s leading smart contract platform. $MOVE will be used to achieve the goals of the Web Foundation.

As we approach the $MOVE Token Generation Event (“TGE”), we now cover the utility and token economics of $MOVE:

Token Distribution

The maximum supply of $MOVE is 10,000,000,000 tokens and the initial circulating supply is approximately 22%. $MOVE will be available on the Ethereum mainnet and represented as ERC-20. With the release of the Movement Network public mainnet, $MOVE will also be listed on the Movement Network.

The majority (60%) of $MOVE will be allocated to the network community – covering the ecosystem and community, foundation and initial claims portion.

Ecosystem + Community (40%)

40% of $MOVE tokens are reserved for the ecosystem.

Staking rewards: reserved for future distribution of validator rewards on the network.

Ecosystem Program: Reserved for future allocation of grants to teams on the network. Grants are awarded based on the achievement of certain predefined milestones.

Incentives and Liquidity Supply: Reserve incentives for future allocations to use the Movement Network and provide liquidity to bootstrap the Movement Network DeFi ecosystem.

Initial Claim (10%)

10% of $MOVE tokens will be distributed to the Movement Network community through MoveDrop and other initial claim activities.

Foundation (10%)

10% of $MOVE tokens are reserved to support the ongoing operations of the Movement Network Foundation as they manage the growth, development, and decentralization of the Movement Network Foundation.

Early Contributors (17.5%)

17.5% of $MOVE tokens are reserved for early contributors to the Movement Network – primarily from Movement Labs. These early contributors come from engineering, product, community and marketing, business development, strategy and other work streams.

Early Backers (22.5%)

22.5% of $MOVE tokens are reserved for Early Backers of Movement Network – those who provide financial, advisory and strategic support to Movement Network.

Token Utility

$MOVE is the utility token of the Movement Network ecosystem and will be used to achieve the long-term goals of the network. Movement Network aims to develop various utilities for $MOVE, including the following:

Staking for Economic Security

Movement Network aims to introduce a novel fast final settlement mechanism that creates effectiveness and optimistic rollups Alternatives. Fast finality will be enabled by a group of validators who stake $MOVE to confirm the correctness of Movement Network state. In exchange for providing this economic security, active validators will receive $MOVE staking rewards.

Gas fee

Gas fees on the Movement Network public mainnet L2 are denominated and paid in $MOVE, part of which is used to pay rent to settle transactions on the Ethereum mainnet. In the future, when teams build L2s using MoveStack, these L2s are also expected to use $MOVE to pay gas fees.

Governance and Decentralization

With $MOVE, we expect the community to play a key role in the decentralization of movement network governance over time. Holders will be able to propose and vote on governance proposals, change certain network parameters and participate in future community initiatives.

A native asset on the mobile network

$MOVE is expected to become a native asset of Movement Network. Applications built on Movement Network can use $MOVE to achieve:

Asset Liquidity

Collateral

Payments

Roadmap

Movement Network's TGE strategy emphasizes the importance of launching $MOVE, the native token of the Movement Network ecosystem that has the above functions. In the process, we create the foundational utilities our network relies on and ensure users have the necessary resources to effectively participate in the movement network once launched.

As part of the launch of $MOVE, we began building economic security by introducing liquid deposit contracts. This process is an integral part of bootstrapping network security and is designed to be executed in multiple stages starting with TGE and continuing through the launch of the Movement Network’s public mainnet:

Mainnet Genesis: Network Generation, Selected Node operators will be able to run follower nodes.

Deposit Contract on Ethereum Mainnet: Start building economic security by allowing users to deposit $MOVE from the Ethereum Mainnet into a liquid deposit contract.

Bridge $MOVE to Movement Network: Facilitate transfer of $MOVE to Movement Network. ,

Join a validator: Choose and join a validator that helps protect network security.

Enable staking: Open up full staking functionality to a wider user base.

Add a penalty mechanism: Punish malicious behavior to maintain network integrity.

After the Movement Network public mainnet is launched, other roadmap projects will follow:

Mobile Stack

Shared Sequencing

MEVM

Multiple Collateral

Conclusion

Movement Network represents a major evolution of the Ethereum ecosystem, bringing Move’s superior security guarantees to the world’s leading smart contract platform. With over 200 teams building on Movement Testnet and a thriving ecosystem, $MOVE will play a vital role in realizing our vision of more secure and efficient L2 solutions. By combining Move’s built-in security benefits with Ethereum’s network effects, Movement Network is empowering Ethereum with next-generation smart contract capabilities.