Movement developers plan token generation event on Ethereum ahead of mainnet launch
Powered by @unfolded- The Movement blockchain project has launched its native MOVE token, with a total supply of 10 billion tokens, initially as an ERC-20 token on Ethereum during a token generation event.
- 40% of the total token supply will be allocated to ecosystem and community initiatives, while early contributors and backers will receive 17.5% and 22.5%, respectively, with a gradual vesting schedule over 60 months.
- The Movement blockchain, utilizing the Move programming language, is designed as a sidechain that ensures security through Ethereum, with features like rapid transaction finality and governance rights for MOVE token holders.
- Following the mainnet launch, MOVE holders will be able to stake their tokens and participate in governance, with the project recently securing $38 million in funding led by Polychain Capital.