What is Mover? Mover is the first cross-chain bridge and messaging protocol that will connect the Aptos blockchain with other blockchains. So what makes Mover stand out? Let’s find out with Weakhand.
To understand more about Mover, please read the articles below:
- What is Stargate Finance (STG)? Stargate Cryptocurrency Overview
- What is cross-chain? When Blockchains Are “Traded”
- What is Multichain? The Difference Between Multichain & Cross-chain
What is a Mover?
Overview of Mover
Mover is a cross-chain bridge and messaging protocol that connects EVM-compatible blockchains with non-EVM-compatible blockchains like Aptos.
Mover provides an optimized solution for efficient, decentralized, fast, low-cost cross-chain transactions.
Present, Through the cross-chain Mover protocol, users can perform USDC, USDT transfers between the following networks: Aptop, BNB smart chain, Arbitrum, Optimism, Sui, Polygon, zkSync Era.
Highlights of Mover
- Instant Guarantee: The ability to cross-chain between blockchains is very fast (<60 seconds), allows digital assets to be transferred between different blockchains quickly.
- Native Assets: Users and applications can use the native assets of the original blockchain instead of using wrapped tokens. This avoids the additional costs and systems of having to create an additional asset.
- Security: Mover has an advanced anti-hacking system that runs automatically and continuously monitors the network to prevent any network intrusion attempts.
- Fees: When using the Mover, users must pay the bridge toll (Bridge fee) and network fee (Network fee) at a rate of 0.13%. To make this process most convenient for users, Mover takes into account the gas cost in the receiving network and deducts it from the sending token.
Mover’s operating mechanism
- Mover will use a lightweight client to perform cross-chain messaging with supported EVM blockchains. For non-EVM chains, incoming and outgoing swaps will be executed through a network of nodes that perform secure multi-party computation (MPC) to reach a consensus threshold. MPC nodes will verify and collectively sign the transaction.
- Mover performs cross-chain swaps: Lock assets on the source chain and swap them for assets on the destination chain or mint 1:1 pegged representations to them.
- Mover combines the high TVL of legacy blockchains with the powerful technology of modern blockchains, divides all blockchains into two groups: Those with High TVL: Ethereum, BSC, Polygon, Arbitrum,… and group hHigh performance: Aptos, Sui, Fuel, StarkNet,…
Mover’s Route
- Q4/2022: Mover testnet
- Q1/2023: mainet launch, deployment on Aptop blockchains, Polygon, BSC, Arbitrum, OP, Avalanch, Fantom.
- Q2/2023: deployed on Sui blockchain
- Q3/2023: deployed on zkSync Era, zkPolygon, Ethereum.
- Q4/2023: deployed on blockchain Celestia
- Q1/2024: Interchain Adapter
- Q2/2024: Cross-chain hub
Core Team
Updating
Investor
Updating
Backer/Partners
On the project’s website, Partners & Investors is announced, but currently the author has not found verified information.
Tokenomics
Basic information about MOVER token
- Token name: Mover
- Symbol: MOVER
- Blockchain: Aptop
- Contract:0x14b0ef0ec69f346bea3dfa0c5a8c3942fb05c08760059948f9f24c02cd0d4fd8::mover_token::Mover
- Total supply: 100,000,000
MOVER Token Allocation
- Seed Allocation: 7%
- Community & Growth: 45%
- Advisors: 5%
- Treasury: 25%
- Public Sale Allocation: 3%
- Team: 15%
MOVER Token Realease
- Public Sale Allocation: Locked for 1 month, then vested 100%.
- Seed Allocation: 3% TGE, then vesting within 3 years.
- Team: 1 year course.
MOVER Token Use Case
- Bridging Fees: Reduce or completely pay bridge fees with $MOVER tokens.
- Stake to Earn: stake $MOVER receives a % of the bridge fees collected by the protocol. Users can stake $MOVER with a lock period to receive $veMOVER. The longer the lockup period, the more $veMOVER tokens the user will receive, with a maximum term of 4 years. Every week, 25% of bridge fees are distributed to $veMOVER holders in stablecoins.
- LP rewards:$veMOVER will enable voting for enhanced rewards for liquidity providers along with a bribe mechanism.
- Dual staking: dApp native tokens supporting Mover will be able to secure their cross-chain messages by staking their tokens alongside $MOVER.
- Governance: Stake $MOVER and use $veMOVER to participate in DAO voting on key token issues (buyback and burn, fees, incentives), users will receive enhanced double incentive rewards: bridge fees + token $MOVER.
- Buybacks: Buy back and burn tokens.
MOVER Token Exchange
Currently MOVER token is traded on the exchange: Bitget
Mover Project Information Channel
- Website: http://mov3r.xyz/
- Twitter: https://twitter.com/moverxyz
- Discord: https://discord.gg/moverxyz
- Medium:
Summary
Mover is a cross-chain bridge built to connect EVM-compatible and non-EVM-compatible blockchains together, fast, cheap and secure. Provides an optimized solution level for efficient cross-chain transactions.
Hopefully this article provides useful information about the Mover project and the MOVER token.