Movement Labs to Enhance Liquidity and Community of MoveVM-Based L2 Chains with AggLayer
Darius Baruo Jul 30, 2024 16:30
Movement Labs announces integration of MoveVM-based L2s with AggLayer, aiming to unify liquidity and user bases across aggregated chains.
Movement Labs has unveiled a strategic initiative to integrate MoveVM-based Layer 2 (L2) chains with the AggLayer, a move designed to unify liquidity and user bases across all aggregated chains, according to Polygon (MATIC) Technology.
Minimalistic Design and Secure Cross-Chain Transactions
A core principle of the AggLayer is minimalism, striving to be unopinionated about the types of chains that connect. Utilizing the 'pessimistic proof' for secure cross-chain transactions, the AggLayer aims to enable a diverse range of chains to join and consolidate liquidity and user bases.
Movement Labs and MoveVM Integration
Movement Labs, which focuses on advancing the Move smart contract language, has taken a significant step by announcing that MoveVM-based L2 chains can now join the AggLayer. This integration makes Movement the first Move-based network to leverage the AggLayer, effectively bridging the gap between the Move and Ethereum Virtual Machine (EVM) ecosystems.
This announcement coincides with the launch of Movement Labs' public testnet, which has already secured $160 million in committed Total Value Locked (TVL) before its mainnet launch. This integration will enable MoveVM-based chains to seamlessly interact with the liquidity and users of any AggChain.
Future Prospects and Developer Benefits
All Movement chains built using Move Stack, a rollup kit designed for creating and launching parallelizable MoveVM chains, will have the option to integrate with the AggLayer. This integration will expand the aggregated network of unified liquidity and shared user bases.
Movement Labs is committed to building an integrated network focused on the Move programming language, which offers parallelized execution and enhances developer efficiency. This can significantly speed up Move chains.
With MoveVM, developers can deploy Solidity contracts without modifying the code while maintaining security. The Move Stack allows developers to design and specify parallelized appchains tailored to their needs.
Rollup-as-a-Service Platform and Future Growth
Movement Labs recently launched the testnet for its new Rollup-as-a-Service platform, which is experiencing significant demand for deployments. This collaboration with AggLayer represents another step toward enabling various aggregated chains to join the network. By leveraging aggregation, developers can unlock growth comparable to the scale of the internet.
The future of Web3 appears to be aggregated, with Movement Labs and AggLayer paving the way for new types of blockchain interactions and efficiencies.
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