The Movement Network Foundation launched MOVE—the utility token of the Ethereum layer-2 network Movement—on Monday, offering up more than $830 million worth of MOVE tokens to early users to claim, based on peak value.

Dubbed the “MoveDrop,” the airdrop provided 1 billion MOVE, or 10% of the total token supply to eligible communities and participants that had completed transactions and quests on the Movement testnet. 

An additional 1.25 billion tokens or 12.5% was also unlocked for the Movement Network Foundation and additional community initiatives, bringing the total circulating supply to 2.25 billion MOVE tokens or 22.5% of the total supply.

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Author: Logan Hitchcock

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