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EigenLayer plans to commence token application on May 10, with 15% of the supply being distributed as pledged airdrops. The newly formed independent nonprofit 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 its governance token MODE on May 7, with a total supply of 10 billion. Among them, 5.5% is dedicated to the first of two user airdrops, the second airdrop will continue from May 5 to September 6, at which point another 500 million tokens will be issued.

The Super Artificial Intelligence Alliance is scheduled to launch on May 24. ASI is an alliance formed by the merger of Fetch.ai, SingularityNET, and Ocean Protocol. The merger of the three has been approved by community vote in each community, and their tokens have been exchanged for ASI at a proportional rate.

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 suite of products and services that enable non-Move protocols to leverage the power of the Move programming language without writing a single line of Move code. The team’s first release, M1, redefines L1 as a vertically composable and horizontally scalable Layer 1 framework that is compatible with Solidity, connects EVM and Move fluidity, and allows builders to customize their applications with diverse user bases and Liquid modular and interoperable application chains available out of the box.

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

MoveVM, the native execution environment for Move-based blockchains, leverages parallelism to provide faster transaction execution and greater overall efficiency.

2. Core Flagship Technologies of M1 and M2

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

M1 is a community-first blockchain, providing as high as possible TPS through Move, instant final determination, local zero-day access to large-scale liquidity, and modular customization. M1 will transform into 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, enabling Sui, Aptos, and EVM users to use L2.

Shared Sequence Layer M1

M1 is the first blockchain for 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, a blockchain-optimized consensus protocol - high throughput, fully ordered, and ideal for smart contracts. Snowman is a fully ordered implementation of the Avalanche consensus protocol. Both the platform chain (P-Chain) and the contract chain (C-Chain) implement the Snowman consensus protocol. With the upgrade of Cortina, the transaction chain (X-Chain) will also use Snowman consensus.

The M1 network is also compatible with the Aptos network, which can quickly realize the migration and deployment of Move ecological projects, as well as self-developed Move virtual machines and fractal architecture. Since M1 is a blockchain running on the Avalanche subnet, it uses a fractal scaling architecture called “Fractal”. This architectural pattern allows M1 to scale horizontally 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 subnetworks communicate and coordinate through an efficient messaging layer. When the load on the entire system increases, new fractal subnets can be dynamically added to share the load.

Zk-Rollup Summary Layer M2

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

M1’s network is for the construction and operation of Layer 1 networks and is the basis for the Layer 1 execution layer that relies on the Avalanche subnet. M2 is the data execution layer for Layer 2 networks. This is the same product design idea as zkSync, StarkNet and the Rollup series projects of the Ethereum ecosystem. Movement is a Rollup project developed by Move that is easier to understand. It also has advantages and disadvantages developed by the Move language that the Ethereum network does not have. Special feature.

3. Why choose Movement?

Digital assets are becoming increasingly important in technology and financial structures, and the Move programming language represents a beacon of innovation in this context, providing a novel resource model that promises to redefine digital asset management.

Differences in Digital Asset Management between EVM and Move

Firstly, the EVM’s method of asset management defines the blockchain’s asset standard, indeed setting the 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 number of diverse DApps, each taking advantage of the unique features provided by the Ethereum smart contract platform.

And EVM’s groundbreaking approach to supporting smart contracts and decentralized applications also brings unique challenges to managing digital assets. These challenges mainly stem from the architecture and operating mechanisms of EVM, affecting the security, integrity, and trustworthiness of the assets managed within its ecosystem.

This contrasts entirely with Move’s resource model, which introduces a resource-centric method of digital asset management. Unlike the EVM’s reliance on centralized asset logic and mutable state, Move’s design is based on the principles of security, protection, and clear resource ownership. Resources in Move are seen as first-class citizens with built-in protections, preventing duplication and unauthorized access, and ensuring that 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 essentially alleviates many security issues related to the EVM’s centralized logic and mutable state. The model is built on two basic pillars: linear ownership and immutable resources, both aimed at enhancing the security and efficiency of blockchain technology.

In Move, resources are special types of structures, defined as non-duplicable 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, which are enforced by Move’s virtual machine. Such an architecture ensures that every operation on resources adheres to safe, pre-defined protocols.

MoveVM, A New Model for Parallelizing Transactions

Parallel blockchain technology shifts from traditional sequential processing to a model in which transactions occur simultaneously. Taking advantage of the power of modern multi-core processors, parallelization greatly reduces transaction wait times and improves the energy efficiency of the network. At the heart of this approach is a fundamental shift in blockchain networks, making them more scalable and efficient by allowing multiple transactions to be processed simultaneously. This not only overcomes the long-standing issues of latency and high transaction fees, but also heralds a new era of blockchain applications, characterized by improved scalability and enhanced network performance.

The emergence of parallel execution and the development of platforms such as MoveVM are at the forefront of ushering in a new era of blockchain technology, especially through innovative solutions such as MoveVM, which are not only more accessible and efficient, but also capable of supporting a wider range of applications The future of programs and services, creating an environment suitable for innovation, growth and broad adoption.

Parallel execution fundamentally changes the blockchain landscape by introducing a mechanism to process transactions simultaneously rather than in a linear sequence. Allowing more transactions to be processed simultaneously, effectively reducing waiting times and increasing the capacity of the network. At the core of this approach are advanced algorithms that coordinate the synchronized processing of transactions between nodes within the blockchain network. This orchestration can efficiently maintain the consistency and reliability of the blockchain, ensuring that transactions are processed without compromising the integrity of the network.

Parallel execution provides a series of enhancements to address long-standing inefficiencies and scalability issues. This approach introduces several key advantages.

• Alleviate network congestion: alleviate traffic bottlenecks in the EVM memory pool.
• Optimize hardware utilization: maximize the efficiency of multi-core processors.
• Enhanced scalability and speed: accelerate the transaction processing of DApps.
• Improved system integrity: ensure harmonious transactions and prevent 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. By leveraging the capabilities of modern multi-core processors, it optimizes computing resources to reduce energy consumption and increase processing speed.

The enhanced scalability and speed brought by this also efficiently cater to decentralized applications (DApps). The reduction in transaction latency allows DApps to run more seamlessly, support a wider range of applications, and promote the expansion of the blockchain 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, and parallel execution marks the overcoming of challenges in the traditional blockchain model, ensuring the network can achieve efficient, scalable, and innovative technology development.

Fractal and Smart Contract Security

Fractal is a novel framework that seamlessly connects Solidity and Move, two well-known smart contract languages. Fractal allows developers to deploy Solidity contracts into Move bytecode, thereby achieving compatibility with the Move chain while leveraging Move’s renowned security features.

Movement Labs, the team behind Fractal, is committed to leveraging Move’s security capabilities to strengthen Ethereum and other platforms. Fractal was launched as more than $5.82 billion in assets were lost to hacks in the DeFi space, including $2.83 billion in losses from bridge hacks alone. The diversity of attack vectors, with unknown methods accounting for 17.82% and other methods accounting for 42.17%, highlights the significant need for Fractal security solutions.

Fractal leverages unique features of the Move language to address common vulnerabilities:

• Reentrancy: By ensuring resources are uniquely accessed, Move eliminates the typical path of reentrancy attacks.
• Math bugs: 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’s goal is to establish a runtime environment in MoveVM, dynamically executing Solidity code, combining Solidity’s expressive power with MoveVM’s robust execution. Fractal not only represents a solution, but also represents a paradigm shift to ensure the future of smart contracts.

4. Movement’s Financing Rounds

Movement’s team has raised a total of three rounds of financing, namely seed Pre-round, seed round and A-round financing, and received a total of US$41.4 million.

The first financing event occurred in the Seed Pre round on September 23, 2023, with an amount of US$3.4 million completed. Participating institutions and investors include Varys Capital, George Lambeth, Double Peak Group, dao5, Calvin Liu, Borderless Capital, Blizzard Fund, Anurag Arjun.

The second financing event occurred in the seed round of financing on January 10, 2024. The financing details of this round were not announced. The participating institutions and investors included Serafund, MH Ventures, George Burke, Eterna Capital, and Artichoke Capital.

The third financing event occurred in the Series A strategic financing on April 24, 2024, which completed an amount of US$38 million. This round was led by Polychain Capital, with participating institutions and investors including Hack VC, Placeholder, Archetype, and Maven. 11. Companies such as Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5 and Aptos Labs participated in this round of financing. It also obtained information on an undisclosed financing from Binance Labs.

5. Movement’s Team Background

Cooper Scanlon is the founder of Movement Labs. Cooper dropped out of Vanderbilt University after entering the blockchain space, realizing that formal education was not the key to his success and preferring to build SPACDAO vehicles. This decision led him to pioneer the first revenue aggregator leveraging Move and ultimately envision and create Movement Labs. Fostering interdisciplinary collaboration, championing Web3 initiatives and drawing on his own experience, Cooper brings a unique blend of financial and technology expertise and economic systems insights to Movement Labs to guide and lead its strategic and cultural direction.

Rushi Manche is the co-founder of Movement Labs. Rushi is an engineer who began his career working in database and systems security engineering at UnitedHealth Group. Rushi moved to Web3, is a smart contract engineer in the Ethereum DeFi space, and works closely with a number of Cosmos protocols on decentralized file storage systems within Cosmos. During the construction of Aptos, Rushi became a core contributor to the ecosystem, especially in the DeFi space, designing for the leading DEX in the ecosystem. Realizing the limitations of Aptos, Rushi and the Movement Labs core team set out to democratize Move by bringing it to Ethereum.

Andy Bell is director of engineering at Movement Labs and was previously vice president of engineering at Biconomy and chief technology officer at Ajuna. Tech entrepreneurs, innovators, scientists and programmers. With insight and experience, he founded and led two successful startups. A natural programmer who started coding in assembly language and compiling by hand in the 1980s. He graduated from the University of Nottingham.

Brian Henhsi is Head of Strategy at Movement Labs, previously at Sui/Mysten Labs and Chia. He graduated from Tsinghua University.

Torab Torabi is the BD and Director of Growth at Movement Labs, having previously 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 consultant, significantly expanding the coverage of various clients and achieving an audience growth of over 200 million. His experience includes working with Fortune 500 companies, including Sony and ICM (now CAA), as well as major stakeholders in the Web3 field, such as Consensus. In the political field, he served as a regional representative for a California state senator.

6. Movement Ecosystem

Currently, more than 60 projects in the Movement ecosystem have been deployed in the test network, covering DeFi, Web3, chain games, infrastructure and other sectors to explore.

7. Movement Token Model

The Move token is currently being used as the native token across the entire Movement ecosystem. It is intended for use in the Move-EVM (MEVM) environment, which is currently in testing. MOVE currently on MEVM needs to be bridged, which is different from MOVE on M1 or M2.

MOVE is currently designated as a testnet token. It has the following attributes:

• Testnet Use: MOVE is exclusively used within the M1 testnet environment and has no value outside of this test environment.
• No Monetary Value: This token is intended for testing purposes only and does not represent any real-world monetary value.
• No Claim of Future Value: Holding MOVE tokens does not entitle you to any rights of ownership or distribution, nor is there any guarantee that the token will have future value or utility within M1 or any other network.
• Limited Functionality: The functionalities of MOVE are restricted to what is permissible within the M1 testnet scope, which is subject to change as development progresses.
• Risk of Reset: The balances and transactions of MOVE may be reset, altered, or wiped out as part of the ongoing development and testing process.
• Modification Rights: We reserve the right to modify, suspend, or discontinue the testnet and MOVE tokens at any time, without notice or liability.

Movement Summary

Move is an alternative smart contract language designed to improve on Solidity in terms of security and flexibility. It has been adopted as the main language by smart contract platforms such as Sui and Aptos.

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

To achieve this, Movement is developing a ZK-rollup based on Move, hosted on Ethereum, leveraging its two main products: M1 and M2. M1 is a decentralized sorter layer leveraging Snowman consensus, providing efficient and high sorting throughput. M2 provides several components necessary for the ZK-rollup execution stack. With M2, both Solidity and Move developers can deploy their contracts on rollup, while users can enjoy the high throughput and low fees of parallel execution, thanks to efficient proof generation algorithms and an alternative data availability (DA) layer .

Movement is a zk-Rollup project independent of the Solidity language and another language. It has unique advantages and strengths on the language track. At present, there are only three projects in the Move section: Aptos, Sui, and Movement. With Aptos and Sui performing outstandingly, Movement may also be able to take the third star project in this track with its unique advantages.

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