Movement Labs’ public testnet has attracted $160 million in committed TVL.
Movement Labs, a developer of Move-based Layer 2 solutions, has integrated with AggLayer, the blockchain aggregator technology created by Polygon Labs. The partnership aims to deliver unified liquidity across Move-based Layer 2 networks, bridging them with Ethereum and other blockchains connected through AggLayer.
“Movement offers the best of both worlds – the familiarity of an Ethereum L2 with the enhanced security and performance of the Move language. This allows projects to deploy with confidence, knowing they’re protected against common vulnerabilities while still leveraging the economic strength of the Ethereum ecosystem,” said Rushi Manche, co-founder of Movement Labs.
The collaboration comes on the heels of Movement Labs’ public testnet launch, which has attracted $160 million in committed total value locked (TVL). Solv Protocol, which is developing a decentralized Bitcoin reserve, has committed $100 million in TVL, supplemented by $60 million from additional investors.
Movement Labs is the first Move-based ecosystem to integrate with AggLayer, with the goal of enhancing the bridge between Move and EVM ecosystems.
AggLayer is designed to mitigate liquidity fragmentation across blockchains, while Move is a programming language designed for secure, sandboxed smart contract development, utilized by networks like Aptos and Sui.
A crucial aspect of this partnership is the facilitation of Solidity contract deployment on Move-based chains without requiring code alteration, which is expected to improve interoperability.
“This collaboration will greatly help in alleviating some of the most pressing challenges in Web3 – siloed liquidity and fragmented user experience – which currently hinder mass adoption,” said Marc Boiron, CEO of Polygon Labs.
