TechFlow News — The Movement Network Foundation, a Move language infrastructure project, has unveiled the tokenomics for its $MOVE token. The total supply of $MOVE is set at 10 billion, with an initial circulating supply of approximately 22%. 60% of the total supply will be allocated to the community, including ecosystem and community initiatives, the foundation, and initial claims.
The detailed allocation is as follows:
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Ecosystem and Community: 40%
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Initial Claims: 10%
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Foundation: 10%
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Early Contributors: 17.5%
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Early Investors: 22.5%
$MOVE tokens will vest gradually over 60 months, and team members and investors will not be eligible to stake their tokens during the initial period.
The Movement Network Foundation stated that the $MOVE token will launch its Token Generation Event (TGE) on the Ethereum mainnet. After the mainnet launch (coming soon), $MOVE holders will be able to bridge their tokens to the Movement Network. Gas fees on the Movement Network will be paid in $MOVE, and the token’s use cases include economic security staking, gas payments, governance and decentralization, and serving as the native asset of the Movement Network.
