Blockchain Press Releases
Movement Network Foundation Announces Launch of Movement Mainnet Beta and $MOVE Token Generation Event
GRAND CAYMAN, Cayman Islands, Dec. 9, 2024 /PRNewswire/ — The Movement Network Foundation, the organization dedicated to fostering innovation and advancing the adoption of MoveVM technology, today announced the successful launch of Movement Labs‘ Movement Mainnet Beta and the Token Generation Event (TGE) of $MOVE, marking a significant milestone for the first Move-based blockchain that settles to Ethereum.
The launch of Mainnet Beta represents the first phase of Movement’s production infrastructure. During this phase, infrastructure providers can deploy essential network components including follower nodes, RPC nodes, and indexers. Network operators will focus on two critical tasks: ensuring the network properly synchronizes and validating security measures. This managed launch environment sets the foundation for Movement’s innovative “postconfirmations,” which achieve transaction finality in as little as one second — dramatically faster than existing ethereum scaling solutions that can take minutes or even day.
Movement Foundation is launching the $MOVE token, via its MoveDrop program, distributing up to 1 billion $MOVE tokens (10% of maximum supply) to its community. The MoveDrop rewards meaningful participation and genuine technical contributions. The program is designed to build a community-driven network where token holders can actively participate in securing the network’s infrastructure and governance, reflecting Movement’s commitment to sustainable ecosystem development.
Unlike next-gen Layer 1 blockchains that operate in isolation—Movement introduces a solution designed to enhance Ethereum’s possibilities. Movement directly integrates with Ethereum, leveraging its robust network effects and security while simultaneously expanding the pool of secure and innovative applications. Through Movement, all Move developers inherently become Ethereum developers.
“What sets Movement apart is our vision for true utility on Ethereum,” said Rushi Manche, Co-founder of Movement Labs. “By bringing the Move language to EVM, we’re not just creating another L2, we’re building a bridge that transforms every Move developer into an Ethereum developer, dramatically expanding the ecosystem’s potential.”
At the core of Movement’s appeal is the Move programming language, developed for Meta’s Diem project and celebrated for its enhanced safety and expressiveness. Move’s resource-oriented programming model aims to ensure secure and bug-resistant smart contract development — eliminating over 90% of auditor-prioritized attack vectors.
“Movement’s strength lies in our vibrant community of over 800 builders and 840+ contributors who have been with us on this journey,” said Cooper Scanlon, Co-founder of Movement Labs. “Mainnet Beta launch and MoveDrop are about empowering developers and users to shape the future of Ethereum scaling. Whether you’re building on the Movement Network, testing new protocols, creating content, or participating in governance, there’s a place for everyone in our ecosystem.”
To celebrate this milestone, Movement Network Foundation also announced its first-ever NFT initiative – a community-driven competition to create the official commemorative artwork for the Mainnet Beta launch.
“Our community has been essential in building the Movement, so it’s only fitting they should create the artwork that commemorates this historic moment,” added Scanlon. “This genesis NFT will be a testament to the creative power of our ecosystem.” The winning design will be minted as Movement’s first NFT, with the top three submissions receiving $1,000 prizes.
Learn more about Movement Labs and its Mainnet Beta at visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn and @Move_Collective on Twitter.
About Movement Labs
Movement Labs develops the Movement Network, an ecosystem of Modular Move-Based Blockchains. The company is creating the first Move Virtual Machine L2 for Ethereum, along with open-source tools to promote Move adoption across blockchains. Their platform enables developers to launch high-performance Move VM rollups easily, bridging Move and EVM ecosystems. Through the Move Collective, their accelerator program, Movement Labs has cultivated over 12 innovative projects and teams, fostering a growing ecosystem of Move-based applications. Backed by $38 million in Series A funding, Movement Labs is advancing Move-based technologies and blockchain interoperability in Web3.
Follow Movement Labs on X and on Discord for updates.
About Movement Network Foundation
Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to fostering innovation and advancing the adoption of MoveVM technology. The foundation oversees the development of Movement Network, a cutting-edge Layer 2 solution built using MoveVM that settles to Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors building the next generation of decentralized applications. Learn more at movementfdn.xyz or follow @movementfdn on X.
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Blockchain Press Releases
Purchasers of Quantstamp QSP Tokens May Be Eligible for Payment from the Quantstamp Fair Fund
COSTA MESA, Calif., Jan. 22, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., the SEC-appointed Fund Administrator.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of Quantstamp, Inc.
Administrative Proceeding File No. 3-21535
This Notice is Pursuant to a Distribution Plan approved by the United States Securities and
Exchange Commission in the captioned matter.
If you purchased or acquired Quantstamp QSP tokens from October 1, 2017, through July 20, 2023, inclusive, you may be eligible for a distribution from the Fair Fund created in the Securities and Exchange Commission (“SEC”) administrative proceeding captioned above (the “Fair Fund”).
The Fair Fund is being distributed pursuant to a Distribution Plan (the “Plan”) approved by the SEC. The Plan provides for the distribution of the Fair Fund to compensate investors based on their losses, due to the misconduct of Quantstamp, Inc. described in the SEC’s administrative proceeding, on the purchase of QSP tokens from October 1, 2017 through July 20, 2023. You can view and download a copy of the SEC’s order and the Plan on the Important Documents tab on the website for this matter: www.QuantstampFairFund.com/documents.
To be considered for eligibility for a Distribution Payment from the Fair Fund, you must timely submit a completed Claim Form online or via mail. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time (“EST”) on April 10, 2025. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, received) by April 10, 2025.
You may complete the Claim Form online here: www.QuantstampFairFund.com/form/claim. Alternatively, you may download a paper copy from of the Claim Form on the Important Documents page www.QuantstampFairFund.com/documents, or request a copy of the paper Claim Form from the Fund Administrator via email at [email protected] or by calling 833-215-6101, for submission by mail to the address set forth on the Claim Form.
ADDITIONAL INFORMATION
Additional information regarding the Fair Fund, including copies of the Plan, the Plan Notice, the Claim Form, and other relevant documents may be found at www.QuantstampFairFund.com. You may request copies or seek additional information by contacting the Fund Administrator.
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833-215-6101 |
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Write: |
Quantstamp Fair Fund |
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Fund Administrator |
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P.O. Box 25381 |
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Santa Ana, CA 92799 |
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain Press Releases
HTX Ventures: RWAFi and Stablecoin Payments Set to Dominate the Evolving DeFi Landscape
SINGAPORE, Jan. 22, 2025 /PRNewswire/ — The DeFi landscape has undergone a dramatic transformation since the “DeFi Summer” of 2020. With Donald Trump assuming office as the President of the United States, a new era of growth for DeFi is emerging, characterized by deeper integration with traditional finance.
HTX Ventures, the global investment division of HTX, has released a forward-looking report titled “A New Era for DeFi with Crypto Compliance and New Opportunities in RWA-Fi and Stablecoin Payments.“ This report analyzes the evolving environment of crypto trading in 2025, focusing on the significant opportunities and challenges RWAFi and stablecoin payments are facing.
Changes in the Crypto Trading Environment Favor Stablecoins and RWAs Prospects
The gradual easing of crypto regulatory policies is facilitating greater institutional investor participation within the crypto ecosystem. This shift has seen stablecoins and RWAs (Real-World Assets) emerge as crucial bridges connecting the traditional finance and decentralized finance worlds.
Data shows a remarkable surge in stablecoins usage in blockchain transactions, which has risen from 3% in 2020 to over 50% by the end of 2024. The core value proposition of stablecoins lies in their ability to facilitate seamless cross-border payments, making them strategically important in international trade.
The report underscores the immense potential of stablecoins, stating, “At present, the global cross-border B2B payments market processed through traditional channels is valued at approximately $40 trillion, while the consumer remittance market generates hundreds of billions of dollars in annual revenue. Stablecoins offer a new alternative for efficient cross-border payments via crypto channels. As the adoption gains momentum, stablecoins are set to penetrate and disrupt this market segment, becoming a key player in the global payments landscape.”
Furthermore, the U.S. House Financial Services Committee is actively preparing to introduce a stablecoin bill, which has the potential to be the first comprehensive crypto legislation passed by Congress. This legislation could drive widespread adoption of crypto wallets, stablecoins, and blockchain-based payment channels among traditional banks, enterprises, and individuals. Notably, several prominent traditional financial giants, including PayPal and Stripe, have already initiated active exploration within the stablecoin sector.
The RWA market saw positive growth during the recent bear market cycle, primarily driven by its stable returns. Unlike cryptocurrencies, the value of RWAs remains largely unaffected by the inherent volatility of the crypto market, a crucial characteristic for building a robust DeFi ecosystem. Industry leaders like Binance project that the RWA market could expand to $16 trillion by 2030. This immense market potential has driven companies like BlackRock and Tether to explore tokenized assets, leading to the emergence of compliance tools for RWA token issuance, such as Securitize.
Opportunities and Challenges for DeFi Projects
As stablecoins and RWAFi emerge as the cornerstones of the evolving DeFi landscape, project teams are tasked with developing innovative products tailored to the new environment and demands. While challenges are inevitable, these transformative shifts also unlock numerous opportunities.
In terms of realizing the vision of yield-generating stablecoins, the report identifies two prevailing market trends:
- Treasury-backed Stablecoins:
This approach involves utilizing the U.S. Treasury bonds as the underlying assets for stablecoins, effectively introducing traditional financial assets onto the blockchain through tokenization. This methodology preserves the stability and low-risk nature of Treasury bonds while seamlessly integrating the high liquidity and composability inherent to DeFi. Examples include USDY by Ondo Finance and a range of Treasury-backed Vault products from OpenTrade.
- Volatility-driven Yield:
The alternative approach leverages crypto market volatility and MEV to generate low-risk returns. Ethena, along with its native stablecoin USDe, serve as a prime example of this strategy.
Seamlessly integrating DeFi applications with RWAs presents another critical challenge for project teams. On one hand, the inherent stability of RWAs can effectively mitigate risk in DeFi applications. Collateralized Debt Position (CDP) stablecoins, such as Curve’s crvUSD, are increasingly incorporating RWAs as collateral to enhance their stability. On the other hand, the flexibility of DeFi can significantly boost the utilization rate of tokenized RWAs. Pendle’s newly introduced RWA section, boasting a current TVL of $150 million, exemplifies this synergy. Leveraging the composability of DeFi Lego, Pendle’s diverse yield-generating assets can offer highly attractive APYs, incentivizing users to invest in RWA stablecoins.
Emerging DeFi projects still possess significant untapped potential within niche sectors, such as addressing defaults scenarios within the private credit market within RWA domain and effectively leveraging RWA public chains to empower institutional finance. Looking ahead, the report suggests that on-chain forex, cross-border payment stacks, and multi-pool stablecoin aggregation platforms are among the promising development directions in the “New DeFi” era.
About HTX Ventures
HTX Ventures is the global investment arm of HTX, integrating investment, incubation, and research to identify and discover the best and most innovative projects in the market. Visit us here.
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View original content:https://www.prnewswire.co.uk/news-releases/htx-ventures-rwafi-and-stablecoin-payments-set-to-dominate-the-evolving-defi-landscape-302357287.html
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