Change is a constant hum in the crypto space. But sometimes, a project makes a move so significant, it feels like a complete re-tuning. That’s the story brewing with Movement, a name you might remember for a few reasons, good and, well, less good.
- Movement is transitioning from a sidechain to a standalone Layer 1 (L1) blockchain, aiming for a significant performance boost and a fresh start. This move involves a fundamental re-architecture of their system.
- The new L1 design targets 10,000 TPS and sub-second latency, with an update to the Move smart contract language called “Move 2.0” adding new features for developers. Native staking will also be introduced for token holders to secure the network.
- Despite past challenges, including a market-making scandal and restructuring, Movement has shown recent growth in Total Value Locked (TVL) and DEX volume, indicating increasing user trust and activity. The full mainnet migration is planned for the end of 2025.
Move Industries, the company behind the Movement project, just announced a big pivot. They are transitioning from a sidechain to a standalone Layer 1 (L1) blockchain. This isn’t just a technical tweak. It’s a fundamental re-architecture, aiming for a fresh start and a massive performance boost.
The Big Leap to Layer 1
Think of a sidechain like a dedicated express lane running alongside a main highway. It helps with traffic, but it often relies on the main road for security and final settlement. A Layer 1, on the other hand, is its own highway. It handles everything from start to finish, building its own security and consensus mechanisms.
Move Industries felt they hit a speed limit as a sidechain. They reported current transaction speeds of 500 to 600 transactions per second (TPS). That’s decent for many applications, but it wasn’t enough for their long-term vision.
Their new L1 design targets a blistering 10,000 TPS. It also promises sub-second latency, meaning transactions would confirm almost instantly. That’s a serious leap, one that could open doors for many new, high-throughput applications.
This shift also brings “Move 2.0” into play. This is an update to the Move smart contract language. It adds features like enum types, index notation, and compound statements. For developers, these are tools that make building more powerful and flexible applications possible, allowing for more intricate logic and data structures.
The company stated that Move 2.0 updates Move, which they call “the best smart contract language.” Such confidence in their underlying technology is a key ingredient for any ambitious blockchain project.
Building for the Future, Remembering the Past
A standalone L1 also means native staking. This is where token holders can ‘lock up’ their MOVE tokens to help secure the network. In return, they earn rewards. It’s a fundamental part of how many L1 blockchains maintain their integrity and distribute governance power.
A network of validators will support this staking. These are the participants who verify transactions and maintain the blockchain’s ledger. Interestingly, any MOVE tokens that are already locked up will not be eligible for staking. This detail might catch the eye of some existing token holders, as it carves out a specific class of tokens from participation.
So, when can we expect this new L1 to go live? Move Industries plans a developer testnet in the near future. This will allow builders to experiment and provide feedback on the new architecture. The full mainnet migration is targeted for the end of 2025. That gives them a good amount of time to build and test thoroughly, ironing out any kinks before a full public launch.
For current users, the company promises a seamless transition. They say no action will be required on your part. All existing funds, smart contracts, and network activity should carry over unchanged. That’s always a relief to hear, isn’t it? Nobody wants to wake up to a crypto scavenger hunt, trying to locate their digital assets after an upgrade.
Despite its sidechain limitations, Movement has seen some real activity lately. Its total value locked (TVL), a measure of assets held within its ecosystem, climbed to $200.6 million recently. That’s up from $156.2 million just at the start of September, according to Defilama data. This shows a steady climb in user trust and capital inflow.
DEX volume on Movement also jumped. It hit $343.6 million in August, more than tripling from $110.4 million in July. These numbers suggest a growing user base and increasing confidence, even before this L1 announcement. It indicates a healthy level of trading and interaction within the existing sidechain environment.
The native token, MOVE, traded around $0.13, with a market capitalization of $349 million, as of Wednesday morning. These are respectable figures for a project making such a significant shift, reflecting a certain level of market confidence in its future.
But we can’t talk about Movement without acknowledging its past. In May, the original company, Movement Labs, dismissed co-founder Rushi Manche. This followed revelations of a “controversial market-making scandal.”
The scandal involved 66 million MOVE tokens, about 5% of the total supply. It was a difficult moment, one that shook confidence in the project and raised questions about its internal controls. Such events can cast a long shadow over even the most promising technical developments.
After that, the company restructured. It became Move Industries, under new leadership from early employees Torab You and Will Gaines. They pledged greater transparency and stronger community engagement. This L1 pivot, in a way, feels like a concrete step in fulfilling those pledges, a public declaration of a new direction.
Moving to a Layer 1 is a bold play. It shows a commitment to independence and scalability, placing Movement in direct competition with established L1s. This isn’t a small upgrade; it’s a complete re-platforming, signaling serious ambition.
Will this technical re-imagining be enough to fully turn the page on past issues and capture a significant share of the L1 market? Only time, and the performance of this new network, will tell. But for now, Movement is certainly making a statement, aiming for a fresh start on its own terms.
