The Movement Network Foundation has announced the successful launch of its Public Mainnet Beta, securing more than $250 million in Total Value Locked (TVL) from its Cornucopia program.
The launch enables permissionless smart contract deployment and user onboarding for the first time, positioning Movement Network as the only Move-based blockchain that settles on Ethereum. This innovative approach aims to provide a secure and scalable environment for DeFi applications.
Cooper Scanlon, co-founder of Movement Labs, described the impressive day-one liquidity as a “clear validation of the market’s confidence in Movement.” According to Scanlon, the $233 million secured through Cornucopia is an exceptional achievement for a new blockchain network, allowing Movement to bypass the traditional bootstrapping phase and immediately provide the foundation for substantial DeFi adoption.
The Cornucopia program, created in collaboration with industry leaders like Concrete, Veda Labs, Echelon, and Canopy, aims to provide deep liquidity for major assets such as BTC, ETH, and stablecoins, addressing the “cold start” issue in new blockchain networks. The Public Mainnet Beta includes features like permissionless smart contract deployment, user onboarding, fast finality settlement via Ethereum, and a canonical bridge powered by LayerZero for seamless asset transfers to the Movement chain, allowing users to transfer MOVE, USDT, USDC, wBTC, wETH, and other assets seamlessly to the Movement chain.
Rushi Manche, co-founder of Movement Labs, highlighted that the launch signals a new era for Move-based technology. Developers can deploy smart contracts without approval, allowing users to engage with the ecosystem freely. Future updates will enhance performance and usability.
In a related development, Alchemy Pay has integrated Movement Network’s native token, MOVE, into its fiat on-ramp solution. This integration allows users to purchase MOVE using popular payment methods such as Visa, MasterCard, mobile wallets, and bank transfers. By enhancing accessibility, the partnership aims to strengthen Movement Network’s presence within the mainstream financial ecosystem.
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