Movement Labs Launches Developer Mainnet to Advance MoveVM on Ethereum
Movement Labs has launched a developer mainnet to integrate Facebook's Move Virtual Machine (MoveVM) with Ethereum. This step initiates the deployment of Movement's core infrastructure and supports selected partners in developing decentralized finance (DeFi) protocols.
- The initial mainnet was launched in December, with a public beta release planned for next month.
- Move technology originated from Facebook's discontinued Diem project, which was halted in early 2022.
- Movement Labs raised $38 million in Series A funding led by Polychain Capital to extend the programming language to Ethereum layer 2.
- A multi-asset liquidity program will be introduced alongside the public mainnet to support DeFi applications.