Movement Network Foundation has released the MOVE Tokenomics, with 60% of the total supply allocated to the community.

BlockBeats News, November 26th, the Move Language Infrastructure Movement Network Foundation announced the token economics of its token MOVE. The total token supply of the MOVE token is 10 billion, with an initial circulating supply of about 22%. 60% of the total supply will be allocated to the community, including the ecosystem and community, foundation, and initial claim. The specific allocations are as follows:

· Ecosystem and Community: 40%

· Initial Claim: 10%

· Foundation: 10%

· Early Contributors: 17.5%

· Early Investors: 22.5%

The MOVE token will be gradually unlocked over 60 months, and the team and investors will not be able to participate in staking initially.

The Movement Network Foundation stated that the MOVE token will have a Token Generation Event (TGE) on the Ethereum mainnet. After the mainnet launch (coming soon), MOVE holders can cross-chain migrate to the Movement Network. Gas fees on the Movement Network are settled in MOVE, and use cases for the MOVE token include: economic security staking, gas fees, governance and decentralization, Movement Network's native assets.