Want to clear up a few things as we have had community members ask us about MOVE token movement. (No pun intended)
1. There are 2 versions of MOVE, ERC-20 MOVE and FA MOVE. ERC-20 MOVE lives on Ethereum and FA MOVE lives on the Movement Network.
2. Several times in the past year, different exchanges have run out of ERC-20 MOVE and thus disable ERC-20 MOVE withdrawals. (due to significant demand)
3. We are then contacted by the exchanges and replenish the ERC-20 MOVE supply. We do this by sending MOVE tokens to the exchanges. And of course shortly afterwards withdrawals are re-enabled, thus ending the FUD of having tokens sent to exchanges.
In regards to the Strategic Reserve from the buyback that was completed in July:
1. The Move Strategic Reserve up until this point has on Ethereum Mainnet.
2. Our ecosystem is on the Movement Network (duh), thus over the next week we will start moving some of the Strategic Reserve to the Movement Network, and finally put it to work for the ecosystem.
3. Some of this will be grants, incentives, or DEX/CEX liquidity. Anything that will support the Movement Network.
Thank you for your attention to this matter!
Movement Network Foundation Update
We want to provide transparency regarding tokens from our buyback wallet.
It’s been 4 months since our buyback commitment has been fulfilled.
We will begin to transfer some tokens from the $MOVE Strategic Reserve on Ethereum Mainnet to the $MOVE Strategic Reserve on the Movement Network to support ecosystem projects and incentives.
Here’s the Movement Network Strategic Reserve address: 0xec8af8edebacc7c5e47be3db7dbeb30a70c5045742b3e14f99a8f68dcb1d3195
As a reminder here’s the Ethereum Strategic Reserve address:
0xA14C8e3eBb2Da43d027dC2c1b763387B9D59cACe
Note: *We also periodically send ERC-20 $MOVE to exchanges in order to replenish and rebalance token supply to re-enable withdrawals.
We are committed to building The People's Chain with visibility to our community.
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