Research Summary
The report discusses Movement Labs, a company that recently raised $40M and is the first Move EVM layer 2 on Ethereum. The company’s co-founder, Rush, shares insights into the company’s technology, its focus on high throughput applications, and its upcoming milestones, including a testnet launch.
Key Takeaways
Movement Labs’ Unique Technology
- First Move EVM layer 2 on Ethereum: Movement Labs has developed the first Move EVM layer 2 on Ethereum, which combines the benefits of both platforms. This technology allows for high throughput, enhanced security, and full EVM compatibility.
- Fractal – EVM interpreter: The company has built Fractal, an EVM interpreter that runs on top of Move. This allows Solidity code to compile into Move bytecode, bringing the parallelization benefits of Move to Ethereum and enabling tens of thousands of transactions per second.
Security and Performance Advantages
- Move’s security benefits: Move is designed to eliminate 90% of vulnerabilities that traditional smart contracts face, which lose billions annually to hacks. This makes it an ideal choice for high-demand applications.
- High throughput execution: Compared to optimistic and ZK rollups, Movement focuses on high throughput execution. This approach promises significantly lower fees and higher transaction speeds, potentially revolutionizing Ethereum.
Upcoming Milestones
- Testnet and mainnet releases: Movement Labs has exciting milestones ahead, with a testnet launching in mid-July and a mainnet release planned for Q3 or Q4 this year.
Community Engagement and Rewards
- Global user base: Movement boasts a diverse and global user base, with significant communities in various regions. The team values active community members and organizes meetups and participation initiatives.
- Transparent reward criteria: Through initiatives like the G-Move campaign, users can earn rewards by participating in community activities. This aims to prioritize genuine contributors over airdrop farmers.
Focus on Meme Coins
- Meme coins: With high throughput and a degen-friendly team, Movement is poised to become a hub for meme coins on Ethereum. The company plans to prioritize meme coins and trading culture.
Actionable Insights
- Monitor Movement Labs’ upcoming milestones: With a testnet launch and a mainnet release planned for this year, Movement Labs is set to make significant strides in the blockchain world. Stakeholders should keep an eye on these developments.
- Engage with the Movement community: The company values active community members and offers rewards for participation. Interested parties may find value in joining the community and participating in initiatives.
- Consider the potential of Move: With its security and performance advantages, Move could be a game-changer for high-demand applications. Developers and investors may want to explore this technology further.
