Movement Labs joins Polygon’s AggLayer; testnet launch attracts $160 million in committed TVL

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San Francisco-based blockchain development firm Movement Labs has joined Polygon’s AggLayer for Ethereum Layer 2s, coinciding with Movement’s public testnet launch.AggLayer is an interoperability layer currently under development by Polygon Labs and other core contributors, designed to facilitate unified liquidity and security across a network of chains. AggLayer helps link these chains and settle ZK-based security proofs back on Ethereum to secure them at once, simplifying the process of converting or securely transferring native Ethereum assets from one chain to another.Movement is the first Move-based ecosystem to utilize the AggLayer and help bridge the gap between the Move and EVM ecosystems, the project said on Tuesday in a statement shared with The Block. It enables Ethereum developers to deploy Solidity contracts on Move-based chains without code modification.Bringing Facebook’s Move Virtual Machine to EthereumIn April, Movement Labs announced it had raised a $38 million Series A round led by Polychain Capital to bring Facebook’s Move Virtual Machine to Ethereum, with additional funding secured from Binance Labs.Movement’s Layer 2 would expand the usage of the Move programming language beyond the well-known Aptos and Sui Layer 1 blockchains. Movement aims to build an ecosystem of modular Move-based blockchains, starting with “M2” — a Move Virtual Machine Layer 2 for Ethereum. Move was originally developed at Meta by a team composed of people from Facebook’s now-defunct Diem stablecoin project."Our platform addresses a critical need in the Web3 ecosystem," Movement Labs co-founder Rushi Manche said. "Developers no longer have to choose between the trusted Ethereum environment and the security of alternative L1s. Movement offers the best of both worlds — the familiarity of an Ethereum L2 with the enhanced security and performance of the Move language. This allows projects to deploy with confidence, knowing they're protected against common vulnerabilities while still leveraging the economic strength of the Ethereum ecosystem."AggLayer would serve as the unifying liquidity layer for these MoveVM-based chains, other “AggChains” and Ethereum, the team noted, helping to address blockchain fragmentation. The infrastructure will also utilize Celestia's data availability layer for cost-effective and high-throughput off-chain data storage while maintaining E...

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