Movement Network Foundation announces $MOVE token economics, 60% of total tokens allocated to the community

Move language infrastructure Movement Network Foundation announced the token economics of its token $MOVE. The total supply of $MOVE tokens is 10 billion, with an initial circulation of about 22%. 60% of the total will be allocated to the community, including the ecosystem and community, the foundation, and initial claims. The specific distribution is as follows: Ecosystem and community: 40% Initial claim: 10% Foundation: 10% Early contributors: 17.5% Early investors: 22.5% $MOVE tokens will be gradually unlocked within 60 months, and the team and investors will not be able to participate in staking in the early stage. The Movement Network Foundation stated that $MOVE tokens will be TGE on the Ethereum mainnet. After the mainnet is launched (coming soon), $MOVE holders can migrate to the Movement Network across chains. The gas fees of the Movement network are settled in $MOVE. The use cases of $MOVE tokens include: economic security staking, gas fees, governance and decentralization, and the native assets of the Movement Network.