Official announcements from Movement Labs or Polygon Labs

Movement Labs Joins Polygon's AggLayer, Unifying $160M TVL

Jul 30, 2024, 03:01 PM

Movement Labs has announced a partnership with Polygon Labs to join the AggLayer, aiming to bring Facebook's Move Virtual Machine (MoveVM) to Ethereum. This collaboration is set to bridge the MoveVM and Ethereum Virtual Machine (EVM) ecosystems, unifying liquidity across MoveVM-based Layer 2 solutions, all AggLayer chains, and Ethereum. Movement Labs is the first next-gen ecosystem on AggLayer, marking a significant step toward a more interconnected web3. The partnership will enhance blockchain interoperability and is expected to unify users and liquidity on MoveVM L2 chains, with a total value locked (TVL) of $160 million across the aggregated network.