Movement Network launches mainnet beta and native token

Movement developers announced the project’s mainnet beta and the token generation event for the native token.

The mainnet beta initiates the first phase of Movement’s infrastructure, where infrastructure providers deploy essential components like follower nodes, RPC nodes and indexers.

Movement Labs, the development firm behind the project, highlights Movement as the first blockchain developed using the Move programming language with proofs that settle on the Ethereum network. The firm said this architecture provides increased security and rapid transaction finality through a process called “post-confirmations.”

Move language, known for its safety features, aims to minimize common smart contract vulnerabilities, supporting secure application development.

“By bringing the MOVE language to EVM, we’re not just creating another L2 — we’re building a bridge that transforms every Move developer into an Ethereum developer, dramatically expanding the ecosystem’s potential,” said Rushi Manche, Co-founder of Movement Labs.

Despite utilizing Ethereum for security, Manche emphasizes that the network is not a Layer 2 chain and could be better described as a fast finality rollup or a sidechain.

This mainnet beta phase focuses on network synchronization and security validations, introducing the post-confirmation technology for fast transaction finality.

The Movement Network Foundation, which supports the project’s development and governance, has detailed the distribution of 10 billion tokens across various categories, assigning 40% (4 billion tokens) to ecosystem and community initiatives.

The foundation will retain 10% (1 billion tokens) of the total token supply. Early contributors and backers are earmarked to receive 17.5% (1.75 billion tokens) and 22.5% (2.25 billion tokens), respectively. The foundation will distribute 10% of the supply to community members in an upcoming airdrop called the MoveDrop.

In April, Movement Labs raised $38 million in its series A round led by Polychain Capital, with additional funding secured from Binance Labs.