Original | Odaily Planet Daily
Author | Asher
Movement: The first L2 built on Ethereum using Move
Reasons for Participation
Movement is a modular framework for building and deploying Move-based infrastructure, applications, and blockchains in any distributed environment. Movement co-founders Rushi Manche and Cooper Scanlon stated that they aim to build the first L2 using Move on Ethereum and the company also plans to launch its own token, tentatively named MOVE.
Image Source: Official Twitter
Currently, Movement has completed two rounds of financing, with amounts exceeding $40 million, as follows:
On September 13, 2023, Movement Labs announced the completion of a $3.4 million Pre-Seed round of financing, with Varys Capital, dao5, Blizzard The Avalanche Fund, Borderless Capital and its cross-chain fund focused on the Wormhole ecosystem leading the investment, and Colony, Interop Ventures, Elixir Capital, and BENQI participating.
On April 26, 2024, Movement Labs announced the completion of a $38 million Series A round of financing, with Polychain Capital leading the investment, and Hack VC, dao5, and Robot Ventures participating.
At the same time, on May 1 of this year, Binance Labs announced its investment in Movement Labs, with the specific amount yet to be disclosed.
[Binance Labs announces investment in Movement Labs](http://Binance Labs announces investment in Movement Labs)
Interactive Tutorial
Although the Movement incentive testnet has not yet started, you can download the wallet, receive test coins, and complete social tasks to prepare.
STEP 1. Download Razor Wallet from the Google Store (click here to jump to the download link)
STEP 2. Create a personal wallet according to the prompts and save the private key
STEP 3. Open the wallet, switch the network to M1 Devnet, M2 Devnet to receive test coins (the following operation is for M1 Devnet, the method for receiving test coins on M2 Devnet is similar)
STEP 4. Switch the network to M1Devnet and enter the testnet swap website (click here to jump to the link) and connect Razor Wallet to exchange MOVE test coins for any token to complete a swap interaction (the following operation is to exchange MOVE for BTC)
STEP 5. Add liquidity (the following operation combines MOVE and BTC to form a liquidity pool)
Summary
For Movement, there is currently very little interactive content to experience, but it is still worth paying attention to due to the investments from Binance Labs, OKX Ventures, and Polychain Capital.
According to official information, the Galxe Galaxy mission is currently in testing, and test points will be reset; after the official launch, guild identity/role tasks can be performed. In addition, for early attention, we can enter the official Discord to increase chat level and unlock the early roles of chatty/chattier/chattiest at levels 8/16/24, which may provide additional benefits when tokens are airdropped in the future.
Initia: The first MoveVM compatible with Cosmos IBC
Reasons for Participation
Initia is an L1 on Cosmos that utilizes OP Rollup for application-specific L2. Through Initia's architecture, including L1, L2, and the communication layer, developers can easily launch application-specific blockchains based on Initia L2 without needing to understand complex chain-level infrastructure or run a validator set.
Image Source: Official Twitter
Initia announced on February 27th this year that it has completed a $7.5 million financing round, with Delphi Ventures and Hack VC co-leading the investment. Other investors include Nascent, Figment Capital, Big Brain, A.Capital, as well as angel investors such as anonymous cryptocurrency trader Cobie, DCF God, Split Capital co-founder Zaheer Ebtikar, Fiskantes, WSB Mod, and Celestia COO Nick White.
It is worth noting that as early as October 12th last year, Binance Labs announced its investment in Initia, with the amount of funding undisclosed. The funds raised will be used to support the development of Initia's infrastructure and developer tools.
Binance Labs announces investment in Initia
Interactive Tutorial
On the evening of May 14th, Initia announced the launch of the incentive public testnet initiation-1, which will last for 8 weeks, and the mainnet is expected to go live later this year. Participants can explore Omnitia, use testnet applications, join Initia Militia, complete tasks, and collect NFT cards to summon the Forbidden One.
STEP 1. Download Initia Wallet from the Google Store (click here to jump to the download link)
STEP 2. Register the wallet using a Google email, Discord, Twitter, or Facebook (the following operation is for registration using Twitter), choose one and enter a password to register
STEP 3. Copy the created wallet address to receive test coins (click here to jump to the faucet website)
STEP 4. Purchase a domain name: Enter the desired name and if the domain name is available, proceed with the payment to complete the purchase (click here to jump to the domain purchase website)
STEP 5. Perform a swap: Exchange INT for USDC (click here to jump to the swap website)
STEP 6. Staking: Stake USDC and NIT at any of the nodes below (click here to jump to the staking website)
STEP 7. Mint Baby JennieNFT: Once all 6 are minted in the image below, you can mint Baby JennieNFT (click here to jump to the minting website)
STEP 8. Feed Baby Jennie
Summary
The 8-week testnet incentive activity has no interaction costs, and the investment from Binance Labs makes this project worth paying attention to.
According to official information, most of the problems encountered in completing the above tasks are due to the high number of addresses participating in the testnet activity. Therefore, if you encounter problems with the above tasks, you can only try repeatedly until they are completed.
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