Movement Launches Public Mainnet... "Deposits Approaching 370 Billion KRW"

Uk Jin

Summary

Movement announced that with the launch of its public mainnet, its Total Value Locked (TVL) has surpassed approximately $250 million.
It is an Ethereum Layer 2 blockchain designed to expand the developer ecosystem based on the Move language.
The public mainnet launch focuses on strengthening network stability and improving accessibility for general users.

Move language-based blockchain developer Movement announced on the 11th that with the launch of its public mainnet, its TVL (Total Value Locked) has surpassed approximately $250 million (about 363.675 billion KRW).

Movement is an Ethereum Layer 2 based on the Move programming language developed by Meta (formerly Facebook). It is designed to maintain Ethereum's security and network effects while expanding the ecosystem for Move developers.

Movement explained that strengthening initial liquidity and network stability through 'Cornucopia' ahead of the public mainnet launch proved effective. Cornucopia is a program designed to solve the cold start problem (when a new network struggles to function normally due to issues like lack of liquidity).

The newly launched Movement public mainnet has enhanced accessibility to allow not only developers but also general users to participate easily. Key features include: △permissionless (accessible to anyone) smart contract deployment △general user onboarding and participation △improved Ethereum blockchain transaction finality speed △official LayerZero bridge support.