Movement Labs and Thala: Move-based modular L2s for EVM liquidity
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Explains Move's origin at Meta's Diem and Movement's stack: M1 as an Avalanche subnet shared sequencer and M2 as a Celestia-based Move/EVM L2. Thala, with over $200M TVL, is deploying on M2 for EVM user access.
Key claims
Thala TVL above $200M
M2 is a SuiMove-based Ethereum L2 on Celestia
M1 runs as an Avalanche subnet
A major narrative this cycle will be Move-based execution layers and the leader of the game is @movementlabsxyz.
With @ThalaLabs another DeFi giant moves over and the ecosystem just keeps growing.
Time to find out why Thala chose Movement and why you should be bullish anon! 👇
What is Move?
The purpose-built blockchain programming language Move was developed by @facebook's @DiemAssociation initiative and will give rise to an entire ecosystem of highly scalable, modular blockchains that run a parallel MoveVM.
What is Movement?
@movementlabsxyz is on a mission to create a global community of Move builders, working together to increase the security, performance, and user experience of building in decentralized networks.
Movement abstracts away the complexity of dApp deployments across modular blockchain networks through a network of connected Move Virtual Machines, making it easy for devs and infra providers to integrate across many networks seamlessly.
The Technology Stack
As mentioned above, Movement is a framework that will give rise to an entire ecosystem of interoperable Move-chains. @movementlabsxyz itself is building core components of this ecosystems' infrastructure.
More specifically, @movementlabsxyz is building:
M1: The first blockchain built on the Movement SDK. M1 is a permissionless Move based blockchain, running as an @avax subnet that will serve as a highly scalable shared sequencing layer for the Movement ecosystem of Move-based rollups. It is powered by the fast finality guarantees of the Snowman consensus it runs.
M2: A SuiMove-based Ethereum L2 with @CelestiaOrg underneath and built on the Movement SDK. M2 provides the first Move-based rollup execution environment in which both EVM and Move contracts that are seamlessly composable.
Tooling: With modularity at its core, @movementlabsxyz is also set to release public goods and tooling to facilitate the adoption of the Move programming language across broader blockchain ecosystems.
What is Thala?
@ThalaLabs is the dominant Move DeFi suite with over $200M in TVL.
It includes:
✦ DEX
✦ Stablecoin
✦ Liquid Staking Derivatives
✦ Launchpad
Why is Thala choosing Movement?
@ThalaLabs is deliberately building on M2 because they want to go modular and expand their reach across chains and ecosystems.
M2 allows them to deploy seamlessly, without having to rewrite a single line of code and they will now also get access to EVM users and liquidity.
Why should you be bullish on Movement?
Move season is upon us anon. @SuiNetwork and @Aptos are already gaining traction and a broader ecosystem of Move-based chains is emerging. As incentive campaigns go live and developer communities grow, these ecosystems will mature quickly over the bull.
As we are heading into a modular future, @movementlabsxyz is uniquely positioned to build out an entire ecosystem of interoperable rollups that seamlessly unify Move and EVM development in a more secure and performant environment.
Movement will be a multi-billion dollar project and I recommend watching this ecosystem closely anon. 👀
QUOTING @movement_xyz
The biggest #Move DeFi platform is coming to the Movement Network! @ThalaLabs is going Modular 🧱 Thala brings a full DeFi suite featuring a DEX, stablecoin, liquid staking, launchpad & more. And now these amazing products will have access to EVM users & liquidity with M2 ⚡️
The biggest #Move DeFi platform is coming to the Movement Network! @ThalaLabs is going Modular 🧱 Thala brings a full DeFi suite featuring a DEX, stablecoin, liquid staking, launchpad & more. And now these amazing products will have access to EVM users & liquidity with M2 ⚡️