The Movement Network Foundation launched MOVE, the utility token for their Ethereum layer-2 network Movement, this week. The network offers more than $830 million worth of tokens to early users, named the “MoveDrop,” which includes 10% of the total supply for eligible communities and users. Movement Network Foundation intends for MOVE to help them achieve their goals and create foundational utility.
The token is now supported by major crypto exchanges and ranks #82 on CoinGecko’s market cap rankings. Movement Labs co-founder, Cooper Scanlon, stated that the mainnet beta launch and MoveDrop aim to empower developers and users to shape the future of Ethereum scaling. The largest remaining MOVE allocation is for the ecosystem and community rewards, followed by early contributors and backers.
Movement, an Ethereum layer-2 network, launched its mainnet beta on December 5. Built with the novel Move programming language, it uses rollups to create secure app-specific blockchains.
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