On November 26, the Movement Network Foundation officially announced the tokenomics of its token $MOVE.

$MOVE is the utility token of Movement, which will be used to achieve the goals of the Movement Network Foundation.

60% of the total supply of $MOVE will be allocated to the community, including the ecosystem and community, the foundation, and the initial claim distribution.

Features of Movement

Movement is the first Move blockchain based on Ethereum, offering higher security, high TPS, and near-instant final confirmation.

Unlike most Ethereum L2s, $MOVE is the native token of Movement, used for gas payments and staking.

https://www.movementnetwork.xyz/article/movement-foundation-move-token

$MOVE Token Distribution

• 40% Ecosystem + Community

• 10% Initial Claim

• 10% Foundation

• 17.5% Early Contributors

• 22.5% Early Investors

Total supply of $MOVE: 10 billion, initial circulation of $MOVE: ~22%.

The $MOVE token will undergo TGE on the Ethereum mainnet as an ERC-20 token. After the launch of the Movement public mainnet (coming soon), $MOVE holders will be able to migrate cross-chain to Movement.

$MOVE will gradually unlock over 60 months. The team and investors will not be able to participate in staking initially.

$MOVE Token Use Cases

The Movement Network Foundation is committed to providing various utilities for $MOVE, including:

1. Economic Security Staking

Once the Movement public mainnet is launched and supports staking, validators will be able to stake $MOVE. By providing economic security for Movement, active validators will earn staking rewards in $MOVE.

2. Gas Fees

Gas fees on the Movement network are priced and paid in $MOVE, with a portion of the fees used for transaction settlement on Ethereum. In the future, L2s built on MoveStack are also expected to use $MOVE for gas fee payments.

3. Governance and Decentralization

In the future, the community will play a key role in the governance of the Movement Network. $MOVE holders can propose governance proposals and vote on network parameter adjustments.

4. Native Asset of Movement Network

$MOVE will become the native asset of the Movement Network, and DApps on the Movement Network can use it for:

• Asset Liquidity

• Collateral

• Payments

• More Scenarios

Why Release $MOVE Before Mainnet Launch?

This is to establish the post-confirmation mechanism correctly.

The post-confirmation mechanism enables Movement to achieve transaction final confirmations as fast as 1 second (or even shorter). The post-confirmation mechanism of Movement requires pre-established economic security. By establishing the economic security of $MOVE (through liquidity deposit contracts) before the mainnet launch, we can optimize the post-confirmation mechanism in a real environment.

https://blog.movementlabs.xyz/article/postconfirmations-L2s-rollups-blockchain-movement

By combining the security of Move with the efficiency of MoveVM and the network effects of Ethereum, Movement brings a significant leap to Ethereum. $MOVE will play a key role in realizing the vision of Movement.

Stay tuned for more exciting content.

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