The mainnet beta launch has secured an impressive $233 million in liquidity, signaling strong market confidence in this technology originally developed by Facebook.

Movement Network Foundation has officially launched its public mainnet in beta, marking a significant milestone in bringing the Movement Virtual Machine (MoveVM) to Ethereum. The launch comes with substantial financial backing, having raised over $233 million worth of BTC, ETH, and MOVE tokens through its Cornucopia program.

This beta release enables developers to deploy smart contracts on the network, opening the platform for public building and usage for the first time ever. The MoveVM technology represents an interesting journey in blockchain development, having originally been created by Facebook (now Meta) as part of their digital currency ambitions that were later abandoned in early 2022.

Since Facebook’s departure from the project, the Move programming language has found new life in layer-1 networks like Sui and Aptos. Movement Labs has taken this technology further by extending it to develop an Ethereum layer 2 solution, potentially bringing together the best of both technological worlds.

The successful beta launch represents a significant step toward fully implementing this once-abandoned Facebook technology on the Ethereum network, potentially expanding Ethereum’s capabilities while leveraging Move’s unique features.