Movement Network Foundation unveils $MOVE tokenomics, with a total supply of 10 billion, 60% of which will be allocated to the community
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Movement Network Foundation unveils $MOVE tokenomics, with a total supply of 10 billion, 60% of which will be allocated to the community
The Movement Network Foundation is committed to providing multiple utilities for $MOVE.
Navigating Web3 tides with focused insightsToday, we officially unveil $MOVE!
$MOVE is the utility token of Movement, designed to support the goals of the Movement Network Foundation.
60% of the total $MOVE supply will be allocated to the community, including ecosystem and community initiatives, the foundation, and initial airdrops.
Now, let’s dive into $MOVE!
First, a quick recap of Movement's key features:
Movement is the first Ethereum-based Move blockchain, offering enhanced security, high TPS, and near-instant finality.
Unlike most Ethereum L2s, $MOVE is Movement’s native token used for gas payments and staking.
$MOVE Token Allocation
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40% Ecosystem + Community
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10% Initial Airdrop
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10% Foundation
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17.5% Early Contributors
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22.5% Early Investors
Total $MOVE Supply: 10 billion | Initial Circulating Supply: ~22%
The $MOVE token will launch via TGE on the Ethereum mainnet as an ERC-20 token. After the upcoming launch of the Movement public mainnet, $MOVE holders will be able to bridge their tokens to Movement.
$MOVE will vest over 60 months. Team and investors cannot stake during the early stages.
$MOVE Token Use Cases
The Movement Network Foundation is committed to delivering diverse utilities for $MOVE, including:
1. Economic Security Staking
Once the Movement public mainnet launches with staking enabled, validators will be able to stake $MOVE. Active validators will earn $MOVE staking rewards by providing economic security to the network.
2. Gas Fees
Gas fees on the Movement network are denominated and paid in $MOVE, with a portion used to cover transaction settlement costs on Ethereum. In the future, L2s built on MoveStack are also expected to use $MOVE for gas payments.
3. Governance and Decentralization
In the future, the community will play a central role in governing the Movement Network. $MOVE holders will be able to submit governance proposals and vote on network parameter adjustments.
4. Native Asset of Movement Network
$MOVE will serve as the native asset of the Movement Network, enabling DApps on Movement to use it for:
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Liquidity provision
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Collateral
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Payments
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And more
Why launch $MOVE before mainnet?
This is to properly bootstrap Postconfirmations.
Postconfirmations enable Movement to achieve transaction finality in as fast as one second—or even less. Movement’s Postconfirmation mechanism requires pre-established economic security. By establishing $MOVE’s economic security prior to mainnet launch—via liquidity deposit contracts—we can optimize Postconfirmations in a real-world environment.
https://blog.movementlabs.xyz/article/postconfirmations-L2s-rollups-blockchain-movement
By combining Move’s security, MoveVM’s efficiency, and Ethereum’s network effects, Movement delivers a giant leap for Ethereum. $MOVE will play a pivotal role in realizing our vision—we’re incredibly excited about the future of Movement Network!
Stay tuned for more exciting updates!
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