Movement Labs secures 38 million in funding

Movement Labs secures $38 million in financing
Updated · 15:19:38 Author: Blockchain Explorer 2023
CoinWorld News: As a leading blockchain technology developer, Movement Labs’ latest developments have garnered significant attention. In April 2024, Movement Labs successfully completed a $38 million Series A financing round, led by Polychain Capital with participation from Hack VC, dao5, and Robot Ventures. This round of financing not only provides ample financial support for Movement Labs but also marks its significant position in the blockchain technology field.
Market Trend Chart
Candlestick Chart
Trend
All
24H
7 Days
30 Days
Three Months
One Year
All
24H
7 Days
30 Days
Three Months
One Year
Movement Labs’ Vision and Technological Innovation
Movement Labs’ grand vision is to build the first Layer 2 blockchain on Ethereum using the Move language to enhance the security and efficiency of smart contracts while reducing costs. Its core technological innovation lies in the construction of the MoveVM L2 network, which focuses on improving execution efficiency and ensuring high security. By implementing parallelization and formal verification on Ethereum, Movement Labs can offer high throughput and comprehensive smart contract security while ensuring excellent liquidity and security with Ethereum.
Moreover, the investment from OKX Ventures and Binance Labs further highlights Movement Labs’ potential and innovation in the blockchain technology field.


Launch of M1 and M2 Products
Movement Labs has launched two blockchain products built on the Move language: M1 and M2. M1 is a community-first blockchain platform with extremely high transactions per second (TPS) and instant transaction finality. The platform also supports large-scale liquidity and modular customization accessible from day one. M2, as the first Move Layer 2 on Ethereum, not only supports Sui Move and Aptos Move but also integrates an embedded EVM interpreter, MEVM, allowing Sui, Aptos, and EVM users to share Layer 2 resources and functions.
Movement SDK and Technical Tools
To support the widespread deployment and use of the Move language, Movement Labs developed the Movement SDK, a modular framework combining the high-throughput Move virtual machine with horizontal interoperability. This SDK enables developers to build and deploy Move-based infrastructure and applications in any distributed environment. Additionally, Movement Labs offers tools such as Movement CLI, Fractal, and Hyperlane messaging infrastructure, as well as a shared sequencer to enhance interoperability between the Move environment and other networks.
Applications of MOVE Tokens
In the Movement Labs ecosystem, MOVE tokens are currently used as testnet tokens, functioning only in the M1 test network environment without actual monetary value. With the development of MEVM, MOVE tokens will be specifically used for testing purposes in the Move-EVM environment. Participants need to understand the limitations and risks of these tokens in the testnet.


Core Role of Movement SDK and Future Development Strategy
The application of the Movement SDK in the blockchain technology field not only promotes technological innovation but also sets new standards for interoperability and security across the ecosystem through its multiple key components. Here are its main features:
Technological Integration and Paradigm Shift
The Movement SDK integrates the advantages of MoveVM and Solidity, creating a versatile platform that enhances existing blockchain ecosystems and paves the way for future technological advancements.
MoveVM: Core of Security and Resource Management
MoveVM, as the execution engine of the Movement SDK, provides a resource-oriented and strictly controlled environment to run smart contracts. MoveVM uses strong type safety and formal verification techniques to minimize the risk of vulnerabilities in running code, enhancing overall system stability.
Fractal: Seamless Bridge from Solidity to MoveVM
The Fractal component allows developers to seamlessly deploy existing Solidity smart contracts to MoveVM. This bridging functionality provides Solidity developers with a more secure and efficient execution environment while retaining the original development experience.
Feature Expansion and Future Outlook
The modularity and interoperability of the Movement SDK not only simplify the development and deployment process of blockchain applications but also make cross-blockchain platform applications possible. The company demonstrates its adaptability to future challenges, indicating a key step towards higher security, efficiency, and interoperability in blockchain technology.


Henry and Movement Labs’ Innovative Collaboration
Through innovative collaboration with Henry, Movement Labs is leading a transformation in the commercial field. This collaboration has launched a business-centric blockchain platform, leveraging the powerful capabilities of the Move Stack to introduce crypto cashback rewards, NFT loyalty programs, and seamless transaction processes. The Henry platform, as a multi-layer protocol, enhances customer engagement and loyalty through innovative crypto cashback and NFT-based loyalty programs.
Henry’s ecosystem, composed of Henry Rewards, Henry Brands, and Henry ZK Rollup, forms a comprehensive system. Although blockchain technology shows great potential in enhancing customer engagement and conducting secure and transparent transactions, its integration is not flawless. Henry simplifies technology, reduces costs, and promotes real-world practicality by providing targeted solutions, fostering a new wave of digital consumer interaction.
Whether these advanced technologies can truly meet the commercial needs of the global market remains to be seen. By reducing the cost and complexity of blockchain adoption, Henry and Movement Labs are paving the way for brands to transition seamlessly to Web3, becoming catalysts for industry transformation.
Movement Labs Popular News


Movement Labs secures $38 million in financing, gains investment from OKX and Binance, why is the MOVE-based public chain favored again?
Blockchain Innovation Wave: Securing $38 million in financing, gaining strong support from OKX and Binance, how to lead technological change?…


Movement Labs receives strategic investment from Binance Labs, practicing the mission of “Making Move Ubiquitous”
Movement Labs is establishing a modular Move-based blockchain ecosystem, launching the first Move virtual machine L2 on the Ethereum network…


Covalent (CQT) partners with Movement Labs, redefining M2 system blockchain data availability and performance
Covalent Network (CQT), an industry-leading multi-chain indexer, is partnering with Movement Labs’ M2 in a groundbreaking collaboration…


Foresight Ventures: Re-staking track remains hot, MOVE language emerges
Crypto investment products see significant net outflows, with major funds accelerating their withdrawal…


Exploring hidden gems in the MOVE ecosystem: Navi and Amnis early layout guide
This week introduces two potential ecosystem projects of the Move VM system, Sui and Aptos, which have not yet issued tokens, helping you get ahead!…


Soaring Sui momentum prepares to kick off the first shot of the Move ecosystem?
Will Sui take off in 2024? We will wait and see…