Movement Labs , an open source tools network focused on the Move smart contract language, and Polygon Labs , a software development company focused on building an aggregated blockchain network, announced a strategic collaboration that marks a significant milestone in blockchain interoperability. Movement Labs will adopt Polygon Labs’ AggLayer to enable unified liquidity across MoveVM-based Layer-2 chains, across all AggLayer-connected chains, and across Ethereum. With this integration, Movement becomes the first Move-based ecosystem to utilize AggLayer, effectively bridging the gap between the Move and EVM ecosystems.
The announcement coincides with the launch of Movement Labs’ public testnet, which has already attracted a whopping $160 million in total value locked (TVL) ahead of mainnet. Solv Protocol, a pioneer in creating Bitcoin’s decentralized reserve, has committed $100 million in TVL to Movement. New and existing Movement Labs investors, including 280 Capital, have committed another $60 million in TVL.
As part of the collaboration, AggLayer will serve as the foundation for unifying liquidity across these MoveVM, AggChains, and Ethereum-based chains to address the critical issue of fragmented liquidity in the blockchain space. AggLayer, whose first components went live in February, securely connects sovereign chains together by unifying liquidity, users, and state, while providing the feel of a single chain. By solving the problem of cryptocurrency fragmentation, AggLayer enables developers to grow projects across an infinitely horizontal network of connected chains.
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For data availability, Movement leverages Celestia, providing a high-throughput solution for publishing transaction data off-chain while still clearing on Ethereum. As the industry-leading data availability layer, Celestia offers developers permissionless scalability, unlocking L2 alt-VMs and high-throughput applications previously only available on L1 alt-VMs, such as Solana or permissioned DA solutions.
Leveraging Polygon technology, Movement Labs aims to create an efficient, secure, and interoperable blockchain environment that can address critical Web3 challenges, including fragmented liquidity and user experience.
“Our platform addresses a critical need in the Web3 ecosystem,” said Rushi Manche , co-founder of Movement Labs. “Developers no longer have to choose between the trusted environment of Ethereum and the security of alternative L1s. Movement offers the best of both worlds: the familiarity of an Ethereum L2 with the increased security and performance of the Move language. This allows developers to deploy projects with confidence, while being protected from common vulnerabilities while leveraging the economics of the Ethereum ecosystem.”
“AggLayer’s mission is to unify Web3 as a whole, bringing together as many users, developers, programming languages, diverse smart contracts and chains, and liquidity as possible,” said Marc Boiron , CEO of Polygon Labs. “Introducing chains within the Movement network in AggLayer accelerates this mission and brings Web3 one step closer to unfettered global interoperability. This collaboration will go a long way in alleviating some of Web3’s most pressing issues that are currently holding it back from mass adoption: siloed liquidity and fragmented user experience.”
The launch of the Movement Labs public testnet highlights six different Web3 projects, already deployed on the Movement testnet:
- Echelon : A highly efficient money market designed to scale Move’s DeFi and Liquidity spaces with strategies backed by LST, RWA, and stablecoins.
- Moveposition – A decentralized lending/origination platform on Movement Labs. Powered by an institutional-grade risk engine and based on adaptive risk management, Moveposition offers users a reliable and accurate method for asset management through a simple wallet connection.
- Meridian – A decentralized liquidity marketplace and liquidity staking protocol built natively on Movement Labs that allows users to seamlessly trade and leverage their assets.
- Avitus – A perpetual protocol, native to Movement, that allows users to use any asset as collateral for trading and leverage existing holdings without switching to blue chip assets.
- BRKT : A decentralized market prediction and competition management protocol using binary options and knockout tournaments.
- Infinite Seas : a trading, combat and diplomatic MMO set in the maritime world, completely on blockchain
This collaboration and the successful launch of the testnet represent important steps towards Movement’s ” Road to Parthenon ” – its journey to mainnet.
Leveraging AggLayer, Movement enables developers to deploy Solidity contracts on Move-based chains without having to change code, while benefiting from Move’s advanced security features that eliminate nearly 90% of the auditor-defined priority attack vectors. This integration not only improves interoperability, but also paves the way for greater innovation and adoption in the blockchain space.
SOURCE: PRNewsWire