Ethereum L2 Movement Labs, based on the Move language, completes $38 million Series A financing, led by Polychain Capital
PANews reported on April 25 that according to CoinDesk, Movement Labs, co-founded by young entrepreneurs Cooper Scanlon and Rushi Manche, which focuses on building Ethereum L2 blockchain, announced the completion of a $38 million Series A financing round, led by Polychain Capital, with participation from Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5 and Aptos Labs. Movement L2 is an Ethereum Layer-2 blockchain based on the Move programming paradigm. In addition, Movement Labs also introduced Move Stack, a highly compatible blockchain execution environment that can be used to build other chains, and plans to enter the testnet stage this summer. The company also plans to launch its own token, tentatively named MOVE.
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