Movement Labs has integrated with Polygon’s AggLayer, launching a public testnet that has already attracted $160 million in committed total value locked （TVL）.
Points
- Movement Labs joins Polygon’s AggLayer, enhancing Ethereum Layer 2 interoperability.
- The public testnet launch has attracted $160 million in committed TVL.
- Movement is the first Move-based ecosystem to use Agg
Layer.
– The integration aims to bridge the gap between Move and Ethereum ecosystems.
– Multiple projects plan to use Polygon’s CDK to develop their Layer 2 networks.
San Francisco-based blockchain development firm Movement Labs has joined Polygon’s AggLayer for Ethereum Layer 2s, coinciding with the launch of Movement’s public testnet. AggLayer is an interoperability layer currently under development by Polygon Labs, designed to facilitate unified liquidity and security across a network of chains. It helps link these chains and settles ZK-based security proofs back on Ethereum, simplifying the process of securely transferring native Ethereum assets between chains.
Movement is the first Move-based ecosystem to utilize the AggLayer, bridging the gap between Move and Ethereum ecosystems. This integration allows Ethereum developers to deploy Solidity contracts on Move-based chains without code modification.
In April, Movement Labs raised $38 million in a Series A round led by Polychain Capital to bring Facebook’s Move Virtual Machine to Ethereum. The additional funding was secured from Binance Labs, expanding the use of the Move programming language beyond Aptos and Sui Layer 1 blockchains. Movement aims to build an ecosystem of modular Move-based blockchains, starting with “M2” — a Move Virtual Machine Layer 2 for Ethereum.
“Our platform addresses a critical need in the Web3 ecosystem,” said 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.”
AggLayer will serve as the unifying liquidity layer for these MoveVM-based chains, other “AggChains,” and Ethereum. It will address blockchain fragmentation by leveraging Celestia’s data availability layer for cost-effective, high-throughput off-chain data storage while maintaining Ethereum’s security guarantees.
Several projects, such as OKX’s X Layer, Immutable, Astar, Canto, Palm Network, Aavegotchi, IDEX, Nubank, and Manta Network, plan to use the Polygon CDK to develop their Layer 2 networks and connect to AggLayer, alongside Polygon’s own PoS chain.
Movement Labs’ integration with AggLayer coincides with the launch of its public testnet, Parthenon, which has already attracted $160 million in committed TVL ahead of its mainnet deployment scheduled for later this year. Solv Protocol has pledged $100 million in TVL on Movement, while existing Movement Labs investors, including 280 Capital, have committed an additional $60 million. Six web3 projects have deployed on the Movement testnet so far, including Echelon, Moveposition, Meridian, Avitus, BRKT, and Infinite Seas.
Explanation
- Movement Labs’ integration with Polygon’s AggLayer represents a significant step in improving Ethereum Layer 2 interoperability.
- The $160 million committed TVL demonstrates strong confidence in the Movement testnet’s potential.
- By bridging the Move and Ethereum ecosystems, Movement Labs offers developers flexibility and enhanced security.
- The use of AggLayer and Celestia’s data availability layer addresses blockchain fragmentation and improves scalability.
- This initiative highlights the growing trend of integrating different blockchain technologies to create more robust and versatile ecosystems.
