Movement Labs Launches Developer Mainnet Ahead of February Public Debut
Finance/Tech

Movement Labs Launches Developer Mainnet Ahead of February Public Debut

Movement Labs has launched a developer mainnet to bring Facebook's Move Virtual Machine to Ethereum, along with a new liquidity program to support DeFi applications.

Blockchain firm Movement Labs has launched a developer mainnet aimed at integrating Facebook’s (META) Move Virtual Machine (MoveVM) into Ethereum.

The deployment begins establishing Movement’s core infrastructure, enabling selected partners to start implementing decentralized finance (DeFi) protocols, according to an announcement made via email on Tuesday.

This launch follows Movement’s initial mainnet release in December and leads up to the planned public beta launch next month.

The Move VM originated from Facebook’s unsuccessful digital currency endeavor, Diem, which was abandoned in early 2022. However, this technology has helped create the Sui and Aptos layer-1 networks.

Thanks to a $38 million Series A funding round led by Polychain Capital, Movement Labs is expanding the programming language to Ethereum’s layer 2 for the first time.

Along with the public mainnet release, Movement will introduce a multi-asset liquidity program aimed at supporting DeFi applications.

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