Movement Labs crypto is a blockchain project that helps bring Facebook’s Move language to the Ethereum network, the project attracted attention when it raised 41.4 million USD from funds such as Polychain Capital & Binance Labs. Movement Labs crypto is also the first project to build layer 1 and layer 2 at the same time, using the Snowman consensus protocol. So what is special about this project? Let’s find out with Unich Analyst in this article.
What is Movement Labs crypto?
Movement Labs crypto is a Modular framework that simplifies the construction and deployment of blockchain infrastructure using the Move language, a famous language used by Aptos and Sui and originated from the former Facebook team.
Movement Labs develops two parallel blockchains, M1 and M2, in which:
- M1 is a Layer 1 blockchain with high TPS and instant transaction completion speed (similar to Sui and Aptos). In addition, in the future, when Movement Network officially mainnet M1 will also become a Decentralize Sequencer for this network.
- M2 is the “flagship” product of the Movement labs team, this is a new generation Layer 2 with extremely fast speed and is the first Layer 2 running on Ethereum using the Move language.
Core products and technologies
Movement provides two main products, M1 (Layer 1) and M2 (Layer 2). Both products use the Move programming language and aim to bring high performance, security, and interoperability to decentralized applications (dApps).
M1 Blockchain
M1 is a Layer 1 blockchain using the Move programming language that aims to create a highly efficient and tightly connected Layer-1 ecosystem.
The key features of M1 are:
- Move VM: Uses the Move VM, compatible with Aptos.
- Fractal: A tool that makes it easy to convert from Solidity to Move and vice versa, making it easier for developers from large ecosystems like Ethereum.
- Snowman consensus algorithm: From Avalanche, enhancing scalability and transaction performance.
The combination of these features makes M1 an attractive platform for blockchain projects, especially in the DeFi space, with easy access to liquidity from native EVM applications.
M2 Blockchain
M2 is a Layer 2 using the Move language, currently running as a Celestia rollup and in testnet. M2 uses zk-rollup architecture to improve Ethereum’s Layer 1 infrastructure, achieving high throughput and efficient transaction sequencing with Snowman consensus.
Some of M2’s highlights include:
- zk-rollups: Using zk-rollup technology to enhance security and transaction speed.
- Fractal: A translation tool that makes it easy for developers to deploy dApps in both Move and Solidity languages.
- Move EVM: DApps on Sui, Aptos, and EVM blockchains can be easily built on M2.
- Parallel execution: Allows independent transactions to execute concurrently, helping the network execute transactions faster than usual.
In the M2 ecosystem, diversity in the applications built is very important. From games and consumer applications to financial products, M2 aims to build secure applications for users. Additionally, M2 features the Fractal module, which converts Solidity scripts to Move VM opcodes, opening the door for Solidity projects to leverage Move’s performance and safety without rewriting code.
Movement Labs is integrating DeFi principles from other blockchain networks such as Aptos, Sui, and EVM projects, expanding the ecosystem and increasing support for Ethereum. Celestia with its Blobstream technology helps create a cost-effective and highly scalable environment, opening up new space for new applications and use cases in the blockchain space.
Other products
In addition to M1 and M2, Movement is also developing a number of notable products such as:
- Movement CLI: interoperability infrastructure with platforms such as Fractal, Hyperlane, etc.
- Movement Shared Sequencer: providing top-notch compatibility between all Move language-based environments and many other blockchains.
- Move Stack: execution layer framework compatible with leading Layer 2 frameworks such as Optimism, Polygon, and Arbitrum.
Movement highlights
Movement’s core technology
Movement Labs has the ambition to build a real Move ecosystem, with a commercial Modular Blockchain platform. With the available toolkits, Movement Labs helps projects build their own Layer 2 with outstanding advantages such as the ability to customize DA layers, high security from the Move language, parallel execution, compatibility with EVM, Aptos, Sui, and many other blockchains, low transaction fees and the ability to minimize costs.
Unified ecosystem
Movement integrates different Blockchain platforms, allowing developers to collaborate without obstacles.
Prioritize accessibility
The project believes in a Blockchain world where everyone can participate, regardless of technical background, making blockchain more accessible to everyone.
Connectivity
Movement enables connectivity, collaboration, and innovation across any platform, ensuring projects get the reach and impact they deserve.
Movement token
Movement has not yet announced a token launch, and the information regarding Movement listing is currently incorrect.
Movement roadmap
On January 16, the Movement Labs project officially announced the project roadmap, here is the basic information:
- Phase 1: Launch of the first Move-EVM blockchain, powered by Snowman Consensus, to enhance security and parallel execution for smart contracts.
- Phase 2: M1 prepares the network and integrates the ecosystem with a number of selected validators, aiming to expand the network to over 100 community validators.
- Phase 3: Launch of Movement testnet with a diverse ecosystem of applications and communities after testing.
- Phase 4: M1 moves into the flexible Move network building phase, becoming the sequencing unit for Move-based rollups and introducing the Move Stack.
- Phase 5: Develop the global Move Virtual Machine, bridge Aptos and Sui compatibility with EVM, and deploy Sui contracts via Sui RPC.
- Phase 6: Establish M2 as the first Layer 2 Move-EVM on Ethereum, using Celestia for data availability and leveraging M1 for decentralized shared sequencing.
- Final phase: Launch the Parthenon testnet campaign, where community-driven automated validators will run a fully decentralized next-generation rollup on Ethereum.
Project ecosystem
Movement has an ecosystem of over 90 projects, primarily in the DeFi and Infrastructure space. Some notable projects include:
- Ethena: A decentralized stablecoin issuance protocol on Ethereum, receiving investment from Binance Labs, Dragonfly, and OKX Ventures.
- MilkyWay: A liquid stacking protocol on Celestia, raising $5 million from Binance Labs and Polychain Capital.
- Near: A blockchain network using proof-of-stake protocol, solving Ethereum’s problems.
- Avalanche: A Layer 1 solution for DeFi applications and other services, developed by Ava Labs.
- Avail: A modular blockchain that overcomes the limitations of traditional blockchain platforms.
- Omni Network: A blockchain network that supports building dApps on Layer 2 with Ethereum’s security.
- Pyth: Oracle provides accurate market data for smart contracts.
- Celestia: A modular blockchain specializing in data availability, scaling by separating execution and consensus.
Movement team
Cooper Scanlon, Co-Founder: He is a Co-Founder with not much information, he and Rushi Manche knew each other from Vanderbilt University and both decided to drop out to found Movement Labs
Rushi Manche, Co-Founder: He is of Indian descent and was a classmate of Cooper Scanlon. However, Rushi Manche has had experience as a software engineer for more than 7 years. In addition, Rushi Manche also worked at Aptos Foundation for a short period of time (3 months) before separating to found Movement Labs. Perhaps this is also one of the reasons why Movement Labs and Aptos have a certain connection.
Movement investors
Movement Labs has completed 3 rounds of funding with a total of more than 41 million USD.
In particular, the earliest Pre-seed funding round took place in September 2023, at which time Movement only raised more than 3 million USD from Avalanche and some projects in the system such as Colony or Benqi.
However, in April 2024, Movement successfully raised an extremely impressive Series A round worth more than 38 million USD, with the participation of a series of leading VCs in the industry such as: Binance Labs, Polychain, HackVC, Robot Ventures, Bankless, Aptos Labs, etc.
Movement partners
Movement’s strategic partners are currently big names in the crypto market, such as Pyth Network, Supra, Colony, Lexer, etc.
Movement labs airdrop guide
Step 1: Create a wallet
To participate in the testnet, users need Razor Wallet and Nightly Wallet. The process is as follows:
- Download and install Razor Wallet (https://razorwallet.xyz) and Nightly Wallet (https://nightly.app/download).
- Create a new account on Razor Wallet.
- Enter the seed phrase of Razor Wallet into Nightly Wallet and select the Movement aptos network.
- Go to https://app.galxe.com/accountSetting/, go to “Wallet Address” and connect your wallet account to complete the task on Galxe.
Step 2: Join the testnet
To participate in the testnet, follow these steps:
- Go to https://testnet.movementlabs.xyz.
- Click “Connect Galxe” and connect your account to synchronize data.
- Faucet token testnet: https://mizu.testnet.suzuka.movementlabs.xyz/?network=aptos
- Go to “Quests” and complete tasks to earn points.
- Higher cumulative points when completing multiple application tasks.
In addition, you can access “Apps” which are applications in the user ecosystem that interact and do tasks to earn more points.
Instructions for trading Pre-Market Movement on Unich
- Access the Unich OTC Trading Platform.
- Connect your wallet to the Unich Pre-Market OTC platform.
- Select the MOVE trading pair to buy or sell with MOVE on the Pre-Market.
- Deposit collateral and complete payment.
Movement review and evaluation
Movement’s potential:
- Pioneer in building Move Layer 2: Movement is a leading project in developing a Layer 2 network based on the Move language, while previously the two names Sui & Aptos only built Layer 1. This can help the project receive great attention from the community, when the tokens of “pioneer” projects in a certain field will often have impressive growth such as SEI and TIA by the end of 2023.
- Airdrop potential: The project has raised up to 41.4 million USD & attracted the attention of large investment funds, so the community expects Movement to be able to conduct a huge token airdrop for users in the future.
Movement’s challenges:
- High competition: The use of Move language to develop blockchain projects has been successfully applied by 2 famous Layer 1 projects, Sui & Aptos, before. These will also be formidable competitors of Movement.
- New project in the early stages: Currently, the project has not disclosed some important information such as tokenomics. Therefore, we need to continue to update more in the future to have a comprehensive view of Movement.
Summary
Movement Labs is looking to create an ecosystem and an integrated blockchain network and has many innovations in the industry. M1 and M2 are innovative Layer 1 & Layer 2 projects of Movement, promising to become pioneers in bringing Facebook’s Move language to the Ethereum network.
With outstanding advantages such as high performance, interoperability, and diverse application support, Movement has the potential to become a formidable competitor of Sui & Aptos in the future. Above is Unich Analysis’s review of Movement. Thank you for reading.
