The Movement Network Foundation launched MOVE—the utility token of the Ethereum layer-2 network Movement—on Monday, offering up more than $830 million worth of MOVE tokens to early users to claim, based on peak value.
Dubbed the “MoveDrop,” the airdrop provided 1 billion MOVE, or 10% of the total token supply to eligible communities and participants that had completed transactions and quests on the Movement testnet.
An additional 1.25 billion tokens or 12.5% was also unlocked for the Movement Network Foundation and additional community initiatives, bringing the total circulating supply to 2.25 billion MOVE tokens or 22.5% of the total supply.
Movement Network Foundation hopes that $MOVE will help it achieve its objectives. $MOVE creates the foundational utility that the Movement Network will rely on.https://t.co/kKVEGphaKP
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— Movement Network Foundation (@movementfdn)
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