Blockchain Press Releases
Movement Labs Joins the AggLayer Developed by Polygon Labs, Bringing Unified Liquidity to Move-Based L2 Chains
Testnet Launch Attracts $160M in Committed TVL, Showcasing Strong Demand for Move Ecosystem
SAN FRANCISCO, July 30, 2024 /PRNewswire/ — Movement Labs, a network focused on open-source tooling for the Move smart contract language, and Polygon Labs, a software development company building an aggregated blockchain network, today announced a strategic collaboration that marks a significant milestone in blockchain interoperability. Movement Labs will join the AggLayer developed by Polygon Labs, enabling unified liquidity across MoveVM-based Layer-2 chains, all AggLayer-connected chains, and Ethereum. This integration makes Movement the first Move-based ecosystem to utilize the AggLayer, effectively bridging the gap between Move and EVM ecosystems.
The announcement coincides with the launch of Movement Labs’ public testnet, which has already attracted an impressive $160 million in committed Total Value Locked (TVL) before mainnet. Solv Protocol, pioneering a Decentralized Bitcoin Reserve, has pledged $100 million in TVL on Movement. New and existing Movement Labs investors, including 280 Capital, have committed an additional $60 million in TVL.
As part of this collaboration, the AggLayer will serve as the foundation for unifying liquidity across these MoveVM-based chains, AggChains, and Ethereum — addressing the critical issue of fragmented liquidity in the blockchain space. The AggLayer, the first components of which went live in February, securely connects sovereign chains together, unifying liquidity, users, and state, but with the feel of a single chain. By fixing crypto’s fragmentation problem, the AggLayer enables developers to grow projects across an infinitely horizontal web of connected chains.
Movement uses Celestia for data availability, providing a high-throughput, solution for posting transaction data off-chain while still settling to Ethereum. As the industry’s leading data availability layer, Celestia allows developers to scale without permission, unlocking alt-VM L2s and high-throughput applications previously only viable on alt L1s like Solana or permissioned DA solutions.
By leveraging Polygon technology, Movement Labs aims to create an efficient, secure, and interoperable blockchain environment that addresses critical Web3 challenges, including fragmented liquidity and user experience.
“Our platform addresses a critical need in the Web3 ecosystem,” explained Rushi Manche, Co-Founder of Movement Labs. “Developers no longer have to choose between the trusted Ethereum environment and the security of alternative L1s. Movement offers the best of both worlds — the familiarity of an Ethereum L2 with the enhanced security and performance of the Move language. This allows projects to deploy with confidence, knowing they’re protected against common vulnerabilities while still leveraging the economic strength of the Ethereum ecosystem.”
“The AggLayer’s mission is to unify Web3 in its entirety by bringing together as many users, developers, programming languages, different smart contracts and chains, and liquidity as possible,” said Marc Boiron, CEO of Polygon Labs. “The introduction of chains within the Movement network to the AggLayer accelerates this mission, bringing Web3 another step closer to unlimited global interoperability. This collaboration will greatly help in alleviating some of the most pressing challenges in Web3 — siloed liquidity and fragmented user experience, which currently hinder mass adoption.”
The launch of Movement Labs’ public testnet showcases six diverse Web3 projects already deployed on Movement testnet:
- Echelon – a highly efficient money market designed to scale Move DeFi & Liquidity with LST, RWA, and stablecoin backed strategies.
- Moveposition – a decentralized borrow/lend platform on Movement Labs. Powered by an institutional-grade risk engine and using adaptive risk management, Moveposition offers users a reliable and precise way to manage assets through a simple wallet connection.
- Meridian – a decentralized liquidity marketplace and liquid staking protocol natively built on Movement Labs, enabling users to seamlessly trade and earn with their assets.
- Avitus: a Movement-native perpetual protocol allowing any asset as collateral for trading, enabling users to leverage existing holdings without swapping to blue-chip assets.
- BRKT – a decentralized prediction market and competition management protocol utilizing binary options and bracket-style tournaments.
- Infinite Seas – a fully on-chain maritime trading, battling, and diplomatic MMO game
This collaboration and the successful testnet launch represent significant steps towards Movement’s “Road to Parthenon” — its journey to mainnet.
By leveraging the AggLayer, Movement enables developers to deploy Solidity contracts on Move-based chains without code modification, while benefiting from Move’s enhanced security features that eliminate nearly 90% of auditor-prioritized attack vectors. This integration not only enhances interoperability but also paves the way for increased innovation and adoption in the blockchain space.
About Movement Labs
Movement Labs is the innovative force behind the Movement Network, an ecosystem of Modular Move-Based Blockchains that enables developers to build secure, performant, and interoperable blockchain applications, bridging the gap between Move and EVM ecosystems. The organization is developing the first Move Virtual Machine L2 for Ethereum, alongside open-source tooling and protocols to facilitate the adoption of the Move programming language across blockchain ecosystems. With Movement, developers can launch high-performance Move VM rollups with ease. Backed by $38 million in Series A funding led by Polychain Capital, with participation from Binance Labs, Hack VC, Placeholder, OKX Ventures and Archetype, Movement Labs aims to revolutionize blockchain interoperability and advance Move-based technologies in the Web3 space. Learn more about Movement’s Battle of Olympus developer Hackathon and follow the team’s exciting news on on X and on Discord.
About Polygon Labs
Polygon Labs is a software development company building and developing an aggregated blockchain network that provides cross-chain interoperability via the AggLayer, a decentralized protocol on Ethereum that unifies user bases and liquidity for all connected chains. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols, including Polygon PoS, Polygon CDK, and Polygon zkEVM, as well as Polygon Miden, which is in development.
Website | Twitter | Developer Twitter | Telegram | LinkedIn | Reddit | Discord | Instagram | Facebook
About Solv Protocol:
Solv is pioneering a Decentralized Bitcoin Reserve, aimed at unlocking the full potential of over $1 trillion in Bitcoin assets through a liquidity consensus infrastructure. By addressing the fragmentation of BTC assets, providing yield opportunities, and offering compliant custody solutions, Solv is creating a comprehensive gateway to BTCFi, and also paving the way for traditional funds to confidently enter the crypto world. Backed by prominent investors such as Binance Labs, Blockchain Capital, Laser Digital, and others, Solv Protocol stands as a beacon of security and trust. Solv Protocol has undergone extensive security audits by leading firms, including Quantstamp, Certik, SlowMist, Salus, and Secbit, ensuring the highest standards of safety.
About 280 Capital:
280 Capital is the Web3 venture arm of the Huang Liu and Chen Family Office, with $2.5 billion assets under management. The family has been in the Web3 space since 2014, and has built a crypto portfolio anchored by a large early accumulation of BTC. To learn more, visit https://www.280.xyz/
About Celestia
Celestia is a modular data availability network that makes it easy for anyone to securely launch their own blockchain.
About Echelon
Echelon is a high efficiency money market written in move that facilitates the borrowing and lending of assets via non-custodial pools, enabling users to earn interest and increase buying power via leverage. Positions are overcollateralized to protect lenders and eMode offers the highest capital efficiency for borrowers. The protocol is complete with isolated pools for long tail assets and one click strategies for leverage staking and RWA backed vaults such as leveraged treasuries.
About Moveposition
Moveposition is a new generation of highly performative, optimally parallelized blockchains that has emerged to revolutionize on-chain execution speed. Incubated by Superposition, Moveposition is built on top of this infrastructure using adaptive risk management to offer precise, reliable, and detailed solutions, paving the way for High Fidelity DeFi. Moveposition solves the DeFi bottleneck of inadequate collateral risk management, heightened security risks, and insufficient borrower empowerment. By analyzing real-time market volatility of collateral portfolios and incorporating on-chain behavior, Moveposition offers maximized capital efficiency for the ecosystem and precise personalized borrowing rates to users.
About Meridian
Meridian is a decentralized liquidity marketplace and liquid staking protocol natively built on Movement Labs, enabling users to seamlessly trade and earn with their assets.
About Avitus
Avitus is the only modular permissionless protocol custom-built on Movement Labs. It allows any asset to be utilized as collateral for perpetual futures trading, empowering all asset holders to finally unlock more utility from their portfolios. By auto-scaling liquidity and hyper-scaling listings together, users will now be able to leverage their current holdings to trade and speculate on a vast array of assets that were previously inaccessible. Avitus will become the go-to home for capital-efficient liquidity and trades enabling easy onboarding of the next billion users, facilitating trillions of dollars of trading volume at scale.
About BRKT
BRKT is a cutting-edge decentralized competition management protocol powered by Solidity smart contracts. It offers a secure and innovative platform for creating, managing, and registering competitions, while efficiently distributing prizes. Explore the future of competitive gaming at https://brkt.gg
About Infinite Seas
Infinite Seas is pioneering a fully on-chain maritime trading, battling, and diplomatic MMO game that maximizes economic freedom and player incentives. By leveraging innovative AMM infrastructure and a robust backend engine, we foster microtransactions and autonomous player-to-player trading. Inspired by classics like Heroes of Might and Magic, Age of Empires, and Uncharted Waters, Infinite Seas offers an infinite game world with non-session gameplay, an open economy, and rich in-game trading opportunities. Our dedicated team of MMO experts is committed to creating a sustainable, immersive game economy with real-world impact, breaking new ground in the world of blockchain gaming. Join us on this groundbreaking adventure and be part of the future of on-chain gaming.
Media Contact:
[email protected]
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Blockchain Press Releases
Bybit Pay Goes Global: Seamless Crypto Payments Now Available in 15 Major Cryptocurrencies
DUBAI, UAE, May 13, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the next phase of crypto innovation with the global launch of Bybit Pay. The ground-breaking crypto payment solution which debuted in Brazil is now available for all eligible global users of Bybit.
Bybit Pay Global: Joining the Crypto Payment Revolution
Initially launched in January 2025, Bybit Pay debuted in Brazil and recently presented itself at Web Summit Rio, where thousands of attendees got their hands on the instant payment solution at the Bybit booth. Starting now, over 70 million Bybit international users may live up their crypto lifestyle on the go with Bybit Pay. The expansion is a step forward in financial inclusion for Bybit’s global community, removing the need for costly legacy intermediaries and physical cards—all one needs is a compatible mobile device.
In a few days since its global launch, Bybit Pay recorded over 40,000 transactions. The digital payment gateway enables users to make payments across a global network of merchants online and offline. It currently supports 15 mainstream cryptocurrencies including USDT, USDC, BTC, ETH, XRP, MNT, BNB, TON, and more.
Bybit Pay has also released new features, Send and Receive:
- Bybit Pay Send allows users to transfer digital assets to business or individual payees in an instant using just the recipient’s email addresses, phone numbers, or Bybit User IDs in-app and on the Bybit website.
- Bybit Pay Receive enables users to get paid with a unique personal QR code tailored for their personal preferences of desired amounts or currencies.
The Bybit Pay platform integrates wallet management functionalities for both fiat and crypto. Built with blockchain-backed security, Bybit Pay ensures tamper-proof transactions through on-chain encryption, optimizing security and user privacy.
Leveraging the instant finality of cryptocurrencies, Bybit Pay offers a seamless and secure on and off-ramp experience for senders and receivers of digital assets.
Bybit Send & Earn: 100,000 USDT in Prizes
From now until May 30, eligible users may register for Bybit Send & Earn to share in a total prize pool of 100,000 USDT.
“Bybit is proud to play a role in advancing payment innovation with the global launch of Bybit Pay. It provides our users with an ultra user-friendly solution for their daily crypto spending and transaction needs, while Bybit gets to serve the broader community and bring more payment freedom and convenience to the underbanked,” said Krista Chan, Head of Marketing, Payment Business Unit at Bybit.
Bybit Pay currently serves global users who have successfully completed Identity Verification on Bybit. Users from Service Restricted Countries or local Bybit entities are not currently supported. For the latest updates and detailed terms and conditions, users may refer to the Bybit Pay official page.
#Bybit #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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Blockchain Press Releases
Midnight Foundation Launches to Support Growth of Secure and Decentralized Blockchain Network
Led by former Input | Output (IO) and Parity Technologies executive Fahmi Syed, the Midnight Foundation will support the growth of Midnight’s rational privacy ecosystem and guide its transition to full decentralization.
TORONTO, May 13, 2025 /PRNewswire/ — Consensus 2025 — Today marks the official launch of the Midnight Foundation, an organization committed to supporting the growth of the Midnight blockchain ecosystem. Midnight is a platform enabling decentralized applications that deliver rational privacy – programmable data protection with selective disclosure. The Foundation’s core mission is to foster a thriving developer community, expand access to Midnight’s privacy-first technology, and guide the network’s evolution toward full decentralization.
Through a wide range of initiatives—including open-source tooling, education, and targeted funding—the Foundation will support builders developing real-world use cases using Midnight. Crucially, the Foundation will also play a leading role in Midnight’s path to autonomous governance. As the network matures, control over protocol upgrades, treasury allocation, and ecosystem development will transition to NIGHT token holders through on-chain voting. The Foundation will ensure this transition is secure, transparent, and community-driven.
These efforts will be key to empowering the Foundation to redefine what Web3 infrastructure can become: private, compliant, decentralized—and ready for real-world adoption.
The Midnight Foundation will be led by Fahmi Syed who has been appointed as President. A recognized leader in decentralized governance and digital innovation, Syed brings over two decades of experience in financial strategy, operational leadership, and decentralized technology to the role. Most recently, he supported the development of the Midnight project at IO. Prior to that, he was CFO at Parity Technologies, the team behind Polkadot and Kusama, where he led financial operations during a period of rapid ecosystem expansion.
Earlier in his career, Syed was Chief Operating Officer at FIFTHDELTA, Europe’s largest hedge fund launch of 2021. He also held senior leadership roles at Marshall Wace, where he contributed to the firm’s global growth to $45 billion in assets under management.
The core development of the Midnight network itself was led by Shielded Technologies, an engineering spinout from IO, the creators of innovations such as Cardano.
Shielded Technologies was founded to pioneer privacy-first, regulation-ready decentralized technologies, and continues to play an integral role in supporting Midnight’s technical innovation and ecosystem growth.
Commenting on his appointment, Syed said: “The Midnight Foundation has an extraordinary opportunity to shape the future of decentralized technology in a way that truly protects users’ rights and privacy. I’m honored to lead this mission at such a critical time. Working alongside Shielded Technologies and its visionary CEO, Eran Barak, we are committed to building a thriving, global ecosystem that brings Midnight’s transformative technology to life for developers, businesses, and communities everywhere.”
A new kind of blockchain network, Midnight is designed to overcome the limitations of traditional blockchains that expose all transaction data by default. It uses zero-knowledge cryptography and a cooperative tokenomics design to enable truly private, censorship-resistant, and regulation-ready applications.
Its public utility token, NIGHT, enables governance and rewards, while its shielded resource, DUST, powers transactions without exposing metadata or wallet details. Unlike typical blockchain fee models, DUST is renewable, non-transferable, and decays over time – a radical new model that makes the network sustainable, privacy-protecting, and secure from economic exploitation.
Moving forward, the Midnight Foundation will look to build a wide ecosystem of partners, builders and token holders, working together to realize the potential of the Midnight blockchain network. We invite you to join us on this journey.
+++END+++
Media Contact:
Georgia Hanias
Midnight Foundation
[email protected]
About Midnight Foundation
The Midnight Foundation is an organization dedicated to advancing the development, adoption, and real-world impact of the Midnight network, the privacy enhancing blockchain project developed by Shielded Technologies. Designed for confidential smart contracts, Midnight enables censorship-resistant yet compliant decentralized applications. It leverages zero-knowledge proofs and a cooperative tokenomics architecture- with NIGHT as the utility token and DUST as the shielded transaction resource- to deliver a powerful combination of privacy, security, and decentralization.
For more information, visit: https://midnight.foundation
About Shielded Technologies
Shielded Technologies is an emerging engineering company pioneering privacy-enhancing, decentralized technologies designed for real-world compatibility. A spinout from leading Web3 venture studio Input Output, Shielded brings deep cryptographic expertise as the core technology partner for the Midnight Network — a new blockchain that leverages advanced cryptographic proofs and a cooperative tokenomics design to protect data and metadata while ensuring auditability and compliance. In collaboration with the Midnight Foundation, Shielded is shaping a global ecosystem that upholds the fundamental freedoms of association, commerce, and expression.
For more information, visit: https://shielded.io
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VICTORIA, Seychelles, May 13, 2025 /PRNewswire/ — As part of a systematic approach to ensuring the security, transparency and sustainability of its platform, MEXC, a leading global cryptocurrency exchange, regularly undergoes both technical and financial audits. One of the latest steps in this direction included the successful completion of a security audit by Hacken, a leading Web3 cybersecurity firm. The audit found no critical or high-risk vulnerabilities in the MEXC mobile application and confirmed that previously identified minor issues were fully addressed.
Key Takeaways:
- No critical or high-risk vulnerabilities were identified.
- All minor issues flagged during the audit were promptly resolved.
- The platform demonstrates adherence to robust security protocols and architecture.
The audit conducted under the comprehensive Hacken’s pentest methodology framework assessed all possible vulnerabilities of the MEXC app to attacks from malicious actors and exploitation. Hacken confirmed that MEXC’s existing security measures provide comprehensive protection against known threat vectors.
The audit also reviewed the platform’s operational architecture, emphasizing a balance between usability and security. Specifically, Hacken highlighted the MEXC app’s user-centric design and simplified navigation, which significantly improve the trading experience for both beginners and experienced traders. Special attention was given to the app’s infrastructure around trading execution, data handling, and fund transfer mechanisms.
MEXC has already addressed and resolved all low-risk vulnerabilities and risks that were flagged by the audit to strengthen the app’s resilience and improve the overall user security and trading experience. The prompt resolution highlights the exchange’s transparency towards its users and commitment to protecting its ecosystem from emerging threats.
Commenting on the audit, MEXC COO Tracy Jin stated:
“External, independent verification is an essential part of maintaining user trust and ensuring accountability. We thank Hacken for their work and continue to prioritize transparency and security, as we scale our services globally.”
Security and transparency remain key priorities for MEXC. In addition to successful technical audits, the exchange regularly confirms its financial stability through regular independently verified Proof of Reserves reports. This data is available to users and partners and meets industry standards for openness and control over user assets.
The full security audit report by Hacken is available at LINK.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
For more information, visit: MEXC Website｜X｜Telegram｜How to Sign Up on MEXC
About Hacken
Hacken is a trusted blockchain security auditor on a mission to make Web3 a safer place.
With a team of 60+ certified engineers, it provides solutions covering all aspects of blockchain security, such as smart contract & protocol audits, bug bounties, and security assessments.
Hacken has been raising the bar for blockchain security, working with more than 1,500 Web3 projects since its inception in 2017.
For more information, visit: Hacken Website｜X｜LinkedIn
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