Key Takeaways:
- Movement Labs partners with Polygon’s AggLayer to boost blockchain interoperability and security.
- The collaboration aims to unify liquidity across Move Virtual Machine-based layer-2 chains, AggLayer-connected chains, and Ethereum.
- Movement Labs launched a public testnet with six Web3 projects and announced a $160 million TVL for its mainnet launch.
Movement Labs has partnered with Polygon’s AggLayer to enhance blockchain interoperability and security.
This collaboration aims to unify liquidity across Move Virtual Machine-based layer-2 chains, AggLayer-connected chains, and the Ethereum network.
NEW: @movementlabsxyz joins @0xPolygon's AggLayer:
— Polygon Stats (@polygonstats) July 30, 2024
Movement Labs is using the AggLayer for several reasons:
-> Interoperability:
The AggLayer facilitates interoperability across the Polygon 2.0 network of Ethereum Layer 2 chains, helping Movement Labs bridge the Move-based… pic.twitter.com/LjrtYYmASj
Movement Labs co-founder Rushi Manche highlighted that developers no longer need to choose between the trusted Ethereum environment and the security of alternative Layer-1s.
This integration will protect Web3 projects from common Ethereum vulnerabilities.
Polygon Labs’ CEO Marc Boiron emphasized AggLayer’s mission to unify various blockchain elements and improve user experience.
Big News: Movement is connecting to AggLayer!
— Movement (@movementlabsxyz) July 30, 2024
We're collabing with @0xPolygon to unify liquidity across:
🎯 MoveVM-based L2s
🎯 All AggLayer chains
🎯 Ethereum
Movement is the first next-gen ecosystem on AggLayer, bridging the gap between the Move and EVM worlds. pic.twitter.com/jdwriA7fRi
Additionally, Movement Labs launched its public testnet, hosting six Web3 projects, and announced a $160 million total value locked (TVL) commitment for its upcoming mainnet launch.
This includes $100 million from Solv Protocol and $60 million from investors.
Movement Labs previously raised $38 million to develop blockchains using Facebook’s Move programming language, aiming to enhance smart contract security and transaction throughput.
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