TechFlow News — Movement Labs, a modular blockchain network, has launched M2, an Ethereum Layer 2 based on Move. M2 leverages Celestia's modular data availability (DA) layer for scaling, accelerating the development of high-performance consumer DApps.
The Move VM is optimized for high throughput, featuring a native fee market and built-in support for formal verification. M2 also scales via Blobstream, bridging Celestia's high-throughput modular DA to Ethereum for integration by the L2.
Previously, Movement Labs announced it raised $3.4 million in a Pre-Seed round led by Varys Capital, dao5, Blizzard The Avalanche Fund, Borderless Capital, and its cross-chain fund focused on the Wormhole ecosystem, with participation from Colony, Interop Ventures, Elixir Capital, and BENQI.
