Movement Launches Public Mainnet Beta with $250M Starting TVL

The Movement Network Foundation has officially launched the Movement Public Mainnet Beta, marking a key development in the blockchain space with the introduction of several groundbreaking features. One of the most notable aspects of this launch is the Total Value Locked (TVL) of $250 million, which highlights the confidence and support the network has garnered from users and investors. This TVL comes as a result of the Cornucopia program, which has been instrumental in securing liquidity for the new network from day one.

The Movement Public Mainnet offers permissionless smart contract deployment, giving developers the freedom to build decentralized applications (dApps) and deploy smart contracts without needing approval. This new layer of flexibility is one of the key features that set Movement apart, allowing it to cater to a broader range of users and projects, especially in the decentralized finance (DeFi) space.

A key feature of the new mainnet is its canonical bridge powered by LayerZero, which ensures seamless interoperability with major blockchain networks, particularly Ethereum. With this bridge, users can transfer assets such as USDT, USDC, wBTC, and wETH, along with the network’s native token MOVE, to the Movement chain. This is a crucial component in addressing the liquidity challenges often faced by new blockchain networks.

In addition to the bridge, the Movement chain leverages Ethereum’s Fast Finality Settlement, where block states on the Movement network are committed to Ethereum. This guarantees faster and more secure transaction finality, ensuring that users can trust the network’s performance and security.

In response to liquidity concerns, Movement Labs has implemented the Cornucopia program, which has successfully raised over $233 million in TVL, primarily across major cryptocurrencies such as BTC, ETH, MOVE, and stablecoins. This initiative addresses the “cold start” problem that many blockchain projects face when launching without initial liquidity. With Cornucopia in place, the Movement ecosystem can hit the ground running with ample liquidity to support a wide range of use cases, including DeFi applications.

The Movement Network is strategically partnered with some of the most respected names in the blockchain space, such as Concrete, Veda Labs, Echelon, and Canopy, ensuring that it will have the necessary resources and expertise to support its growth and development. These partnerships are expected to provide both technical support and increased adoption as they help integrate the Movement chain into the broader blockchain ecosystem.

Rushi Manche, the Co-Founder of Movement Labs, emphasized that this launch represents the beginning of a new chapter for Move-based technology. He noted that the Movement Public Mainnet combines Ethereum’s robust security with better performance, setting the stage for a new wave of blockchain innovation. The network is now open for users and developers to interact with, marking the start of a decentralized, high-performance ecosystem that aims to make a lasting impact in the world of blockchain and DeFi.

With the Movement Public Mainnet Beta now live, the Movement Network Foundation aims to provide a stable, efficient, and scalable platform for developers and enterprises to build and launch their decentralized applications. The launch of this mainnet is expected to pave the way for further advancements in blockchain technology, particularly in how networks operate efficiently while also supporting seamless cross-chain interoperability.