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Source: Movement Network Foundation; Compilation: Wuzhu, Bitchain Vision
With the Movement Network public mainnet coming soon, the Movement Network Foundation now launches $MOVE – it will be used to achieve the long-term goals of Movement Network.
The Movement Network Public Mainnet is the first Ethereum-based Move blockchain designed to provide high TPS, higher security and near-instant ending.
Movement improves the Ethereum ecosystem by introducing Move’s outstanding security capabilities and the diversity of new web developers and applications into the world’s leading smart contract platform.$MOVE will be used to achieve the goals of the Network Foundation.
As we approach the $MOVE token generation event (“TGE”), we now introduce the utility and token economics of $MOVE:
Token allocation
The maximum supply of $MOVE is 10,000,000 tokens, with an initial circulating supply of approximately 22%.$MOVE will be available on the Ethereum mainnet and represented in the form of ERC-20.With the release of the Movement Network public mainnet, $MOVE will also be available on the Movement Network.
The majority of $MOVE (60%) will be allocated to the online community – covering the ecosystem and community, foundations and initial claims sections.
Ecosystem + Community (40%)
40% of the $MOVE tokens are reserved for the ecosystem.
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Pledge Reward:Reservation is reserved for future assignment of validator rewards on the network.
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Ecosystem Plan:Reservations are reserved for future grant allocations to teams on the network.Grants are awarded based on the completion of certain predefined milestones.
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Incentive and liquidity supply:Retain incentives for future allocation of Movement Network use and provide liquidity to guide the Movement Network DeFi ecosystem.
Initial claim (10%)
10% of the $MOVE tokens will be distributed to the Movement Network community through MoveDrop and other initial debt activities.
Foundation (10%)
10% of the $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 the $MOVE tokens are reserved for early contributors to Movement Network – they are mainly from Movement Labs.These early contributors come from engineering, products, community and marketing, business development, strategy and other workflows.
Early supporters (22.5%)
22.5% of the $MOVE tokens are reserved for early supporters of Movement Network—those who provide financial, consulting and strategic support for Movement Network.
Token Utility
$MOVE is a practical token for the Movement Network ecosystem that will be used to achieve the network’s long-term goals.The Movement Network is designed to develop various utilities for $MOVE, including the following:
Pledge for economic security
Movement Network aims to introduce a novel fast final settlement mechanism to create alternatives to validity and optimistic rollups.Quick Determinism will be enabled by a group of validators who pledge $MOVE to confirm the correctness of the Movement Network status.In exchange for providing this economically secure exchange, active validators will receive a $MOVE staking reward.
Gas fee
Gas fees on Movement Network Public Main Network L2 are priced and paid in $MOVE, with a portion of which being used to pay rent to settle transactions on the Ethereum Main Network.In the future, these L2s are expected to use $MOVE to pay Gas fees when teams build L2s using MoveStack.
Governance and decentralization
Through $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 governance proposals and vote on them to change certain network parameters and participate in future community initiatives.
Native assets on mobile networks
$MOVE is expected to become a native asset for the Movement Network.Applications built on Movement Network can be implemented using $MOVE:
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Asset liquidity
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Collateral
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Pay
Roadmap
Movement Network’s TGE strategy emphasizes the importance of launching $MOVE, a native token of the Movement Network ecosystem that has the above features.In the process, we create the underlying utilities our network depends on and ensure that users have the necessary resources to effectively participate in the sports network upon startup.
As part of the $MOVE launch, we started building economic security by introducing liquid deposit contracts.This process is an integral part of bootstrap network security and is designed to be performed from TGE and continue to multiple stages after the launch of the Movement Network Public Mainnet:
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Mainnet Creation:Network generation, selected node operators will be able to run the following node.
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Deposit contracts on the Ethereum main network:Start building economic security by allowing users to deposit $MOVE from the Ethereum mainnet into a liquid deposit contract.
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Bridging $MOVE to the Movement Network:Promote $MOVE transfer to Movement Network.,
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Join the verifier:Select and join validators who help protect your network security.
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Enable staking:Open up complete staking functions to a wider user base.
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Add a penalty mechanism:Punish malicious behavior to maintain network integrity.
After the Movement Network public mainnet is launched, other roadmap projects will follow:
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Mobile stack
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Shared sequencing
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MEVM
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Multiple pledges
Conclusion
Movement Network represents a major evolution of the Ethereum ecosystem and brings Move’s superior security assurance to the world’s leading smart contract platform.With over 200 teams built on Movement Testnet and a thriving ecosystem, $MOVE will play a vital role in realizing our vision of safer and more efficient L2 solutions.By combining Move’s built-in security benefits with Ethereum’s network effects, Movement Network is enhancing Ethereum with the next-generation smart contract capabilities.
