Blockchain Firm Movement Labs Advances Facebook’s Move Virtual Machine to Ethereum
Blockchain firm Movement Labs has recently launched a developer mainnet to further its goal of integrating Facebook (META)’s Move Virtual Machine (MoveVM) with Ethereum.
According to an announcement sent via email on Tuesday, the developer mainnet’s rollout marks the beginning of Movement’s core infrastructure deployment and enables selected partners to begin implementing decentralized finance (DeFi) protocols.
This release comes after Movement’s initial mainnet launch in December and precedes the upcoming public mainnet beta release scheduled for next month.
Originally developed as part of Facebook’s Diem project, which was abandoned in early 2022, Move technology has since been utilized to establish the Sui and Aptos layer-1 networks.
With the support of a $38 million Series A funding round led by Polychain Capital, Movement Labs is now extending the programming language to an Ethereum layer 2 for the first time.
Alongside the deployment of the public mainnet, Movement will introduce a multi-asset liquidity program to serve as the foundation for various decentralized finance (DeFi) applications.
For more information, read about Movement Network’s MOVE trading at a $1.3 billion market cap during their recent airdrop.