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Content Editor: Yao Erliu

Content Organizer: Yao Erliu

Previous News

EigenLayer plans to start token application on May 10th, with 15% of the supply distributed as staking airdrops. The newly established independent non-profit Eigen Foundation will be the entity issuing the tokens. The total supply of EIGEN tokens at the time of issuance is 1.67 billion.

Mode will launch the governance token MODE on May 7th, with a total supply of 10 billion tokens, of which 5.5% is dedicated to the first of two user airdrops. The second airdrop will continue from May 5th to September 6th, distributing an additional 500 million tokens.

Super Artificial Intelligence Alliance is scheduled to launch on May 24th. ASI is an alliance formed by the merger of Fetch.ai, SingularityNET, and Ocean Protocol, and the merger of the three has been approved by the respective communities through proposal voting, with their tokens being exchanged for ASI in proportion.

1. Movement

Movement is a modular framework for building and deploying Move-based infrastructure, applications, and blockchains in any distributed environment. The team is building a set of products and services to enable non-Move protocols to leverage the powerful features of the Move programming language without writing a single line of Move code. The team's first version, M1, will redefine L1 as a vertically composable and horizontally scalable first-layer framework, compatible with Solidity, connecting EVM and Move liquidity, and allowing builders to customize modular and interoperable application chains with different user bases and liquidity out of the box.

Move is a programming language originally developed by the Facebook team in 2019 for its now-disbanded Diem project. Move aims to handle smart contracts and transaction data in a secure manner, eliminating native attack vectors found in other languages, such as reentrancy attacks.

MoveVM, as the native execution environment of Move-based blockchains, utilizes parallelization to provide faster transaction execution speed and higher overall efficiency.

2. Core Flagship Technologies of M1 and M2

Movement Labs is currently building a Zk-rollup based on Move. This solution utilizes its flagship products M1 and M2, where M1 is used as the shared sequence layer and M2 as the aggregator. M2 not only supports smart contracts written in Move but also includes an EVM bytecode interpreter, Fractal.

M1 is a community-first blockchain that provides as high a TPS as possible through Move, instant finality, local zero-day access to large-scale liquidity, and modular customization. M1 will transition to a decentralized shared sorter for the Movement network to achieve mainnet launch.

M2 will be the first Move Layer-2 on Ethereum. It will support Sui Move, Aptos Move, and our embedded EVM interpreter MEVM, allowing Sui, Aptos, and EVM users to use L2.

Shared Sequence Layer M1

M1 is the first blockchain of the Movement ecosystem, enabled by the Movement SDK. It is currently in the testnet phase for testing and development purposes. M1 is a permissionless blockchain based on Move, running as an Avalanche subnet.

M1 features a new consensus protocol—Snowman Consensus, an optimized consensus protocol for blockchains—high throughput, fully ordered, and well-suited for smart contracts. Snowman is a fully ordered implementation of the Avalanche consensus protocol. Both the platform chain (P-Chain) and contract chain (C-Chain) have implemented the Snowman consensus. With the upgrade of Cortina, the transaction chain (X-Chain) will also use the Snowman consensus.

M1 is also compatible with the Aptos network, enabling rapid migration and deployment of Move ecosystem projects, as well as self-developed Move virtual machines and fractal architecture. As M1 is a blockchain running on an Avalanche subnet, it adopts a fractal scaling architecture called "Fractal." This architecture allows M1 to achieve horizontal scaling by decomposing itself into multiple similar but smaller subnetworks ("fractals").

Each fractal subnet runs a complete M1 protocol stack, including consensus, execution, data, and other modules. These fractal subnets communicate and coordinate through an efficient messaging layer. As the load on the entire system increases, new fractal subnets can be dynamically added to share the load.

zk-Rollup Aggregation Layer M2

M2 is a blockchain compatible with Layer 2 Sui, enabled by the Movement SDK. Once M1 has Sui compatibility, M2 will be repurposed. It is currently in the testnet phase for testing and development purposes, running as Celestia rollup.

The network of M1 is built and operated for the Layer1 layer network, relying on the Avalanche subnet for Layer1 execution, while M2 is used for the Layer 2 network's data execution layer. This design approach is similar to the Rollup series projects of zkSync, StarkNet, and the Ethereum ecosystem, making it easier to understand a Rollup project developed by Move and also having advantages and distinctive features not present in the Ethereum network.

3. Why Choose Movement?

Digital assets are becoming increasingly important in both technology and financial structures, and the Move programming language represents an innovative beacon in this context, offering a novel resource model that has the potential to redefine digital asset management.

Differences in Digital Asset Management between EVM and Move

Firstly, EVM's approach to asset management defines the asset standards of the blockchain, setting a standard for the blockchain industry. Its method revolves around three key components: centralized asset logic, mutable state, and dynamic asset control. This framework has become synonymous with the development of a large variety of DApps, each leveraging the unique features provided by the Ethereum smart contract platform.

The breakthrough approach of EVM in supporting smart contracts and decentralized applications has also brought unique challenges to managing digital assets. These challenges primarily stem from the architecture and operational mechanisms of EVM, affecting the security, integrity, and trustworthiness of the assets managed within its ecosystem.

This is in complete contrast to Move's resource-centric digital asset management approach. Unlike EVM's reliance on centralized asset logic and mutable state, Move's design is based on principles of security, assurance, and explicit resource ownership. Resources in Move are treated as first-class citizens, with built-in protections to prevent unauthorized access and duplication, ensuring each asset has a clear owner at all times. By embedding strict ownership and immutability rules directly into the language's type system, this approach fundamentally mitigates many security issues associated with EVM's centralized logic and mutable state. This model is built on two fundamental pillars: linear ownership and immutable resources, both aimed at enhancing the security and efficiency of blockchain technology.

In Move, resources are a special type of structure, defined as non-copyable and must be explicitly transferred between accounts. This design decision is crucial for maintaining the uniqueness of each asset and preventing common vulnerabilities (such as unauthorized duplication or loss). These resources are managed by strict type safety and access control mechanisms, enforced by Move's virtual machine. This architecture ensures that every operation on resources complies with secure, predefined protocols.

MoveVM: A New Model for Parallelized Transaction Execution

Parallel Execution and Fractal with Smart Contract Security

Parallel blockchain technology has transitioned from traditional sequential processing to a model where transactions occur simultaneously, utilizing the powerful capabilities of modern multi-core processors. Parallelization significantly reduces transaction wait times and improves network energy efficiency. The core of this method is a fundamental transformation of the blockchain network, allowing for the simultaneous processing of multiple transactions, making it more scalable and efficient. This not only overcomes long-standing issues of latency and high transaction costs but also heralds a new era for blockchain applications characterized by improved scalability and enhanced network performance.

The emergence of parallel execution and the development of platforms like MoveVM are at the forefront of ushering in a new era of blockchain technology. Particularly, parallel execution achieved through innovative solutions like MoveVM not only makes access easier and more efficient but also supports a broader range of future applications and services, creating an environment conducive to innovation, growth, and widespread adoption.

Parallel execution fundamentally changes the landscape of blockchain by introducing a mechanism to process transactions simultaneously rather than in linear order, allowing for the efficient reduction of wait times and increased network capacity. This method's core lies in advanced algorithms that synchronize transaction processing among various nodes within the blockchain network. This orchestration efficiently maintains the consistency and reliability of the blockchain, ensuring that transaction processing does not compromise the network's integrity.

Parallel execution offers a range of enhanced features to address long-standing issues of inefficiency and scalability. This method introduces several key advantages:

• Alleviating network congestion: Mitigating traffic bottlenecks in the EVM memory pool.
• Optimizing hardware utilization: Maximizing the efficiency of multi-core processors.
• Enhanced scalability and speed: Accelerating transaction processing for DApps.
• Improved system integrity: Ensuring transaction harmony and preventing conflicts.

By distributing transactions across multiple nodes for simultaneous processing, parallel execution effectively alleviates congestion in the Ethereum Virtual Machine (EVM) memory pool, especially during peak traffic periods. Leveraging the capabilities of modern multi-core processors optimizes computing resources to reduce energy consumption and increase processing speed.

The resulting enhanced scalability and speed are also efficient for decentralized applications (DApps). Reduced transaction latency allows DApps to operate more seamlessly, support a wider range of applications, and facilitate blockchain expansion to accommodate a growing user base without sacrificing performance.

Finally, parallel execution introduces complex protocols to manage and synchronize transaction processing, effectively preventing potential conflicts and ensuring the integrity of the blockchain. This transaction orchestration maintains the security and reliability of the network, marking the overcoming of challenges in traditional blockchain models and ensuring that the network can efficiently support innovative technological development with scalability.

Fractal and Smart Contract Security

Fractal is a novel framework that seamlessly connects the two renowned smart contract languages, Solidity and Move. Fractal allows developers to deploy Solidity contracts to Move bytecode, achieving compatibility with Move chains while leveraging Move's renowned security features.

The team behind Fractal, Movement Labs, is dedicated to leveraging Move's security capabilities to strengthen Ethereum and other platforms. The launch of Fractal was prompted by the DeFi sector's losses of over $58.2 billion due to hacker attacks, with bridge hacks alone causing $28.3 billion in losses. The diversity of attack vectors, with unknown methods accounting for 17.82% and other methods for 42.17%, underscores the significant demand for Fractal's security solutions.

Fractal utilizes Move's unique features to address common vulnerabilities:

• Reentrancy: By ensuring unique access to resources, Move eliminates the typical path for reentrancy attacks.
• Mathematical errors: Move's arithmetic operations include automatic checks for overflow and underflow to prevent such errors.
• Input validation: Move's type system and resource model enforce strict input checks, significantly enhancing security.

Fractal aims to establish a runtime environment in MoveVM for dynamically executing Solidity code, combining Solidity's expressive capabilities with MoveVM's execution robustness. Fractal not only represents a solution but also signifies a paradigm shift to ensure the future of smart contracts.

Movement's Funding and Team Background

Movement has undergone three rounds of funding: seed pre-round, seed round, and Series A, raising a total of $41.4 million.

The first funding event occurred on September 23, 2023, in the seed pre-round, raising $3.4 million. Participating institutions and investors included Varys Capital, George Lambeth, Double Peak Group, dao5, Calvin Liu, Borderless Capital, Blizzard Fund, and Anurag Arjun.

The second funding event took place on January 10, 2024, in the seed round, with participation from Serafund, MH Ventures, George Burke, Eterna Capital, and Artichoke Capital.

The third funding event occurred on April 24, 2024, in the Series A strategic financing, raising $38 million. Polychain Capital led this round, with participation from Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5, Aptos Labs, and an undisclosed investment from Binance Labs.

Movement's Team Background

Cooper Scanlon, Founder of Movement Labs: Cooper dropped out of Vanderbilt University after entering the blockchain field, realizing that formal education was not the key to his success. He preferred to build SPACDAO vehicles, leading him to create the first yield aggregator using Move and eventually envision and create Movement Labs. Cooper's interdisciplinary collaboration, advocacy for the Web3 initiative, and insights from his experience bring a unique fusion of financial and technical expertise and economic system insights to guide and lead Movement Labs' strategic and cultural direction.

Rushi Manche, Co-founder of Movement Labs: Rushi began his career as a database and systems security engineer at UnitedHealth Group. Transitioning to Web3, he became a smart contract engineer in the Ethereum DeFi space and closely collaborated on some Cosmos protocols, focusing on decentralized file storage systems within Cosmos. During the construction of Aptos, Rushi became a core contributor to the ecosystem, particularly in the DeFi field, designing leading DEXs within the ecosystem. Recognizing the limitations of Aptos, Rushi and the core team at Movement Labs began the process of integrating Move into Ethereum to democratize it.

Andy Bell, Engineering Lead at Movement Labs: Previously serving as the Vice President of Engineering at Biconomy and Chief Technology Officer at Ajuna, Andy is a tech entrepreneur, innovator, scientist, and programmer. With insight and experience, he founded and led two successful startups. A natural programmer, he has been writing code in assembly language and manually compiling since the 1980s. He graduated from the University of Nottingham.

Brian Henhsi, Strategic Lead at Movement Labs: Previously associated with Sui/Mysten Labs and Chia, Brian graduated from Tsinghua University.

Torab Torabi is the BD and Growth Director at Movement Labs. Previously, he held positions at Edge & Node and Fluid Finance. He graduated from the University of California, Berkeley.

Will Gaines is the Marketing Director and Founder of Movement. He has served as a brand consultant and marketing advisor, significantly expanding the reach of various clients, achieving over 200 million audience growth. His experience includes collaborations with Fortune 500 companies such as Sony and ICM (now CAA), as well as major stakeholders in the Web3 space, such as Consensus. In the political arena, he served as a district representative for a California State Senate senator.

6. Movement Ecosystem

Currently, over 60 projects have been deployed in the test network within the Movement ecosystem, covering various sectors such as DeFi, Web3, blockchain games, and infrastructure.

7. Movement Token Model

The Move token is currently used as the native token throughout the entire Movement ecosystem. It is intended for use in the Move-EVM (MEVM) environment, currently in testing. MOVE on MEVM currently requires bridging, unlike MOVE on M1 or M2.

MOVE is currently designated as a testnet token with the following attributes:

• Testnet use: MOVE is specifically used in the M1 testnet environment and has no value outside of this testing environment.
• No monetary value: The token is solely for testing purposes and does not represent any real-world monetary value.
• No future value claim: Holding MOVE tokens does not confer ownership or distribution rights, nor does it guarantee future value or utility on M1 or any other network.
• Limited functionality: MOVE's functionality is limited to the scope allowed within the M1 testnet and may change as development progresses.
• Reset risk: As part of ongoing development and testing, MOVE balances and transactions may be reset, altered, or cleared.
• Modification rights: We reserve the right to modify, suspend, or terminate the testnet and MOVE tokens at any time without notice and without assuming any liability.

Conclusion

Move is an alternative smart contract language aimed at improving security and flexibility compared to Solidity. It has been adopted as the primary language by smart contract platforms such as Sui and Aptos.

As Move is a relatively new language, attracting developers to build on it has been a challenge. To bring liquidity and developers into the Move-based ecosystem, Movement Labs aims to introduce Move into the EVM ecosystem.

To achieve this goal, Movement is developing a Move-based ZK-rollup hosted on Ethereum, utilizing its two main products: M1 and M2. M1 is a decentralized sequencer layer using the Snowman consensus, providing efficient and high throughput sequencing. M2 provides several components necessary for ZK-rollup execution stack. Using M2, both Solidity and Move developers can deploy their contracts on the rollup, and users can benefit from high throughput and low fees due to efficient proof generation algorithms and an alternative data availability (DA) layer.

Movement is a zk-Rollup project with a language distinct from Solidity, offering unique advantages and strengths in the language race. Currently, there are only three projects in the Move sector: Aptos, Sui, and Movement. With Aptos and Sui performing well, Movement may also be able to secure its position as the third standout project in this sector, leveraging its unique strengths.

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