Movement Describes Itself As

A general-purpose blockchain framework that provides support to Move-based and EVM-compatible blockchains.

Project Function

1. Movement Mainnet: A sidechain atop Ethereum which utilizes Celestia for data availability, a decentralized sequencer set, and the MoveVM, providing higher throughput transaction execution. Users and developers are able to create and interact with applications on the Movement Mainnet. Of note, the network supports EVM transactions enabling smart contract deployment in both Move and EVM bytecode.
2. Move Stack Chain: A modular architecture for developers to create Move-based L2 chains or rollups.

The project also provides interoperability between chains within the Movement ecosystem as well as a shared decentralized sequencer which runs on a multi-asset Proof-of-Stake (PoS) consensus mechanism; this allows for native and non-native tokens to be staked to support the network.

Token Utility 

MOVE is Movement’s native token and can be used to stake to run a validator/sequencer node and pay for transaction/gas fees on the network.

About The Founders

• Rushi Manche is the Co-Founder of Movement Labs, the team behind the Movement network, and was previously a software engineer for various companies such as United Healthgroup and Aptos. (Linkedin, X)
• Cooper Scanlon is the Co-Founder of Movement Labs, previously worked in tech such as Bloomberg LP as a Leadership and Talent Development analyst. (Linkedin, X).

Risks of MOVE

Like an investment in other crypto assets, there are some general risks to investing in MOVE . These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in MOVE is subject to the following specific risks:

• MOVE operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with MOVE . Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The MOVE community and Movement founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of MOVE have no recourse to the MOVE community, Movement founding team, or Uphold if MOVE declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing MOVE on the Uphold Platform, Uphold performed due diligence on MOVE and determined that MOVE is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of MOVE , including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of MOVE .
• Any marketing materials put forward by the MOVE social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with MOVE , including any code defects, security breaches and other threats concerning MOVE and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with MOVE, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of MOVE.