A quick look at Binance HODLer Phase 3 airdrop project Movement (MOVE)

Source: Golden Finance, Movement Network Foundation, Binance, Movement official website, white paper Compiled by: Golden Finance

On December 9, 2024, Binance announced that the Binance HODLer airdrop is now live on the third phase of the project Movement (MOVE), the first Move-EVM L2 for Ethereum, bringing Move's security features to Ethereum.

From 08:00 on December 2, 2024 to 07:59 on December 6, 2024 (Eastern Time), users who use BNB to subscribe to the regular and/or current products of the Earn Coin Platform will receive airdrop allocations. The MOVE HODLer airdrop page is expected to be launched within five hours, and the new tokens will be distributed to users' spot wallets 1 hour before trading begins.  

Binance will list Movement (MOVE) on Dec 09, 2024 21:00 (ET8) and open MOVE/BTC, MOVE/USDT, MOVE/BNB, MOVE/FDUSD, and MOVE/TRY trading pairs. Seed tag trading rules apply.  

About Binance HODLer Airdrop

Binance HODLer Airdrop takes a historical snapshot of users’ BNB HODLer holdings and awards token airdrops to BNB holders. By using BNB to purchase HODLer platform fixed and/or fixed deposit products, users will automatically be eligible for the HODLer Airdrop (as well as Launchpool and Megadrop rewards).

Unlike other ways to earn coins that require continuous operation, HODLer airdrops reward users in the form of backtracking, providing a simpler way to earn extra coins. Users can automatically receive token rewards by using BNB to purchase coin earning platform products.

1. MOVE HODLer Airdrop Details

• Token Name: Movement (MOVE)

• Total and Maximum Supply of Tokens: 10,000,000,000 MOVE  

• Circulating Supply Before Listing on Binance: 2,250,000,000 (22.5% of Maximum Supply)

• Six months after Spot Listing, an additional 5% of Maximum Supply of Tokens Will Be Allocated to Launchpool

• Total HODLer Airdrop Tokens: 200,000,000 MOVE (22.5% of Maximum Supply) 2%)

• Smart contract details: Ethereum, 0x3073f7aAA4DB83f95e9FFf17424F71D4751a3073

• BNB holding hard cap: average BNB holdings of a single user / average total BNB holdings*100% ≤ 4%, (if the holding ratio is greater than 4%, the BNB holding ratio will be calculated as 4%)

2. Introduction to the Movement Project

Movement is a modular framework for building and deploying Move-based infrastructure, applications, and blockchains in any distributed environment. The team is building a suite of products and services that enable non-Move protocols to leverage the power of the Move programming language without writing a single line of Move code. The team's first version, M1, redefines L1 as a vertically composable and horizontally scalable Layer 1 framework that is compatible with Solidity, connects EVM and Move liquidity, and allows builders to customize modular and interoperable application chains with different user bases and liquidity out of the box.

Founding Team and Project Vision

Movement Labs was co-founded by former Aptos engineer Rushi Manche and blockchain entrepreneur Cooper Scanlon. Both founders have participated in the technical development of Libra/Diem and have a deep blockchain technology background and industry insight. Movement Labs was originally established to promote the Move language developed by Facebook (now Meta) in the Libra/Diem project as a standard for blockchain smart contracts, and to build a secure, efficient, and highly scalable blockchain infrastructure.

The team members come from several well-known blockchain projects, including Biconomy, Sui/Mysten Labs, Fluid Finance, etc. The team members have rich experience in blockchain development and financial technology, and are committed to building a blockchain platform that can support high-throughput transactions and secure digital asset management.

The Movement Foundation is the driving force behind the Movement ecosystem, dedicated to promoting innovation, supporting developers, and driving the adoption of MoveVM technology. Movement is a cutting-edge layer 2 solution built with MoveVM, designed to provide developers with a powerful, efficient, and scalable platform to create the next generation of decentralized applications.

3. Token Economics

$MOVE will have a maximum supply of 10,000,000,000 tokens, with an initial circulating supply of approximately 22%. $MOVE will be available on the Ethereum mainnet and represented in the form of ERC-20. With the launch of the Movement Network public mainnet, $MOVE will also be available on the Movement Network.

The majority (60%) of $MOVE will be allocated to the network community - covering the ecosystem and community, the foundation, and the initial claims portion. 40% of $MOVE tokens are reserved for the ecosystem.

• Staking Rewards:Reserved for future distribution of validator rewards on the network.

• Ecosystem Initiatives:Reserved for future distribution of grants to teams on the network. Grants are awarded based on the completion of certain pre-defined milestones.

• Incentives and Liquidity Provision:Reserved for future distribution of incentives for using the Movement Network and to provide liquidity to bootstrap the Movement Network DeFi ecosystem.

Initial Staking (10%)

10% of $MOVE tokens will be distributed to the Movement Network community through MoveDrop and other initial staking activities.

Foundation (10%)

10% of $MOVE tokens are reserved to support the ongoing operations of the Movement Network Foundation as they manage the growth, development, and decentralization of the Movement Network Foundation.

Early Contributors (17.5%)

17.5% of $MOVE tokens are reserved for early contributors to the Movement Network - they are primarily from Movement Labs. These early contributors come from Engineering, Product, Community and Marketing, Business Development, Strategy, and other workstreams.

Early Supporters (22.5%)

22.5% of $MOVE tokens are reserved for early supporters of the Movement Network - those who provide financial, advisory, and strategic support to the Movement Network.

Fourth, Roadmap

The Movement Network's TGE strategy emphasizes the importance of launching $MOVE, the native token of the Movement Network ecosystem with the functions described above. In the process, we create the underlying utility that our network relies on and ensure that users have the necessary resources to effectively participate in the Movement Network after launch.

As part of the launch of $MOVE, we began to build economic security by introducing a liquid deposit contract. This process is integral to bootstrapping the security of the network and is designed to be executed in multiple stages starting with the TGE and continuing through the launch of the Movement Network public mainnet:

• Mainnet Genesis:The network is generated and selected node operators will be able to run follower nodes.

• Deposit Contract on Ethereum Mainnet:Begins building economic security by allowing users to deposit $MOVE on Ethereum Mainnet into the liquid deposit contract.

• Bridge $MOVE to Movement Network:Facilitate the transfer of $MOVE to the Movement Network.

• Join Validators:Select and join validators that will help secure the network.

• Enable Staking:Open up full staking functionality to a wider user base.

• Add Penalty Mechanism:Implement penalties for malicious behavior to maintain network integrity.

Other roadmap projects will follow after the Movement Network public mainnet launch:

• Movement Stack

• Shared Sequencing

• MEVM

• Multi-Staking