The Movement Labs, which focuses on the development of open-source tools for the Move smart contract language, and Polygon Labs, which is building an aggregated blockchain network, announced a new strategic partnership today, marking an important milestone in the development of blockchain interoperability.
Movement Labs will be integrated into the aggregated network AggLayer developed by Polygon Labs, enabling unified liquidity between Layer2 based on MoveVM, all blockchains connected to AggLayer, and Ethereum. This integration will make Movement the first Move-based network to utilize AggLayer, effectively breaking down the barriers between the Move and EVM ecosystems.
Simultaneously with this partnership, Movement Labs has launched its public testnet, which has already attracted a total locked value (TVL) commitment of $160 million. The Bitcoin liquidity protocol Solv Protocol has committed to locking $100 million TVL on Movement, and Movement Labs investors, including 280 Capital, have additionally committed to locking $60 million TVL.
The key to this partnership is that AggLayer will serve as the foundation for unifying the liquidity of all these networks (including MoveVM blockchains, AggChains, and Ethereum), addressing the challenge of liquidity fragmentation in the blockchain space. The first batch of AggLayer components was previously launched in February, securely connecting multiple sovereign chains, unifying the liquidity, users, and states of multiple chains as if they were one. By addressing the long-standing fragmentation issue in the cryptocurrency space, AggLayer enables developers to build various projects in a nearly infinitely scalable and seamlessly connected multi-chain network.
Movement has adopted Celestia's Data Availability (DA) solution, achieving higher-performance off-chain transaction data publication while ensuring reliance on Ethereum for settlement. As a leading DA layer project in the industry, Celestia allows developers to scale without permission, thereby building applications with higher throughput demands.
By leveraging Polygon technology, Movement Labs aims to create an efficient, secure, and interoperable blockchain environment, addressing Web3 challenges including liquidity fragmentation and user experience.
Rushi Manche, co-founder of Movement Labs, stated, "Our platform addresses a critical need in the Web3 ecosystem. Developers no longer need to compromise between the trusted security of Ethereum and other Layer1 environments. Movement provides a win-win solution—maintaining the operational inertia of Ethereum Layer2 while improving security and performance with the Move language. This will allow projects to deploy with more confidence, leveraging the powerful economic benefits of the Ethereum system while also guarding against common vulnerabilities."
Marc Boiron, CEO of Polygon Labs, stated, "The mission of AggLayer is to achieve comprehensive unification of Web3 by bringing together as many users, developers, programming languages, smart contracts, blockchains, and liquidity as possible. Bringing blockchains within the Movement network into AggLayer can accelerate this mission, bringing Web3 closer to infinite interoperability. This collaboration can greatly alleviate some of the most pressing challenges in Web3, such as isolated liquidity and fragmented user experience, which are key issues currently hindering widespread adoption of Web3."
The launch of the public testnet and the success of this partnership represent a significant step for Movement on its journey to the mainnet (Road to Parthenon).
By integrating into AggLayer, Movement allows developers to deploy Solidity contracts on-chain based on the Move language without code modification, while also benefiting from the enhanced security features of the Move language. These features can eliminate 90% of the risks prioritized in security audits. This integration not only strengthens interoperability but also paves the way for innovation and adoption in the blockchain space.
About Movement Labs
Movement Labs is the innovative team behind Movement Network, an ecosystem of modular blockchains based on Move, enabling developers to build secure, high-performance, and interoperable blockchain applications to bridge the gap between the Move and EVM ecosystems. The organization is developing the first Move VM Layer2 for Ethereum and open-source tools and protocols to promote the adoption of the Move programming language in the blockchain ecosystem. Through Movement, developers can easily launch high-performance Move VM Rollups. With a completed $38 million Series A funding round led by Polychain Capital and participation from institutions such as Binance Labs, Hack VC, Placeholder, OKX Ventures, and Archetype, Movement Labs aims to innovate blockchain interoperability and advance Move-based technology in the Web3 space.
About Polygon Labs
Polygon Labs is a software development company that is building and developing an aggregated blockchain network, which provides cross-chain interoperability through the decentralized protocol AggLayer on Ethereum, unifying users and liquidity across all relevant chains. Polygon Labs is also involved in the development of widely adopted scaling protocols, including Polygon PoS, Polygon CDK, Polygon zkEVM, and the upcoming Polygon Miden.
About Solv Protocol
Solv Protocol is dedicated to developing a decentralized Bitcoin reserve with the aim of unlocking the full potential of over $1 trillion worth of Bitcoin assets through liquidity consensus infrastructure.
About 280 Capital
280 Capital manages $2.5 billion in assets and has been active in the Web3 space since 2014.
About Celestia
Celestia is a modular data availability network that enables anyone to easily and securely launch their own blockchain.
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