Movement Labs Launches Developer Mainnet to Integrate MoveVM with Ethereum
Blockchain firm Movement Labs has officially launched its developer mainnet, marking a significant step towards its ambition of integrating Facebook (META)‘s Move Virtual Machine (MoveVM) into the Ethereum ecosystem. This strategic deployment initiates the rollout of Movement’s core infrastructure, enabling selected partners to begin implementing decentralized finance (DeFi) protocols, as detailed in an announcement sent out via email on Tuesday.
This release follows the initial mainnet launch of Movement that took place in December and sets the stage for the anticipated public mainnet beta release scheduled for next month. The Move programming language was originally developed for Facebook’s now-defunct digital currency initiative, Diem, which was discontinued at the beginning of 2022. Despite its rocky beginnings, the Move technology has been successfully utilized to develop the Sui and Aptos layer-1 networks.
In a significant boost to its efforts, Movement Labs has secured a robust $38 million Series A funding round led by Polychain Capital. This funding will facilitate the extension of the Move programming language to an Ethereum layer 2 solution for the very first time. Alongside the public mainnet launch, Movement Labs is set to introduce a multi-asset liquidity program, which will lay the groundwork for a variety of decentralized finance applications.
