Movement Labs and Polygon Labs have revealed a major step forward in blockchain interoperability as they join the AggLayer.
Movement Labs will be the first Move-based ecosystem to utilize this technology since this integration will provide uniform liquidity across MoveVM-based Layer-2 chains, AggLayer-connected networks, and Ethereum.
Together, the parties have invested $160 million in Total Value Locked (TVL) since the public testnet launch of Movement Labs. Notable backers include 280 Capital, a new investor, and Solv Protocol, which contributed an extra $60 million. Solv Protocol has committed $100 million in TVL.
Blockchain Interoperability
Since it began operations in February, AggLayer has sought to address the problem of fragmented liquidity by combining liquidity from several blockchain networks.
In order to offer an affordable, high-throughput off-chain transaction data storage solution that complies with Ethereum security requirements, it uses Celestia’s data availability layer.
Through this integration, Movement Labs can create a blockchain ecosystem that is more effective, safe, and compatible with other systems.
The testnet’s primary initiatives include Infinite Seas, BRKT, Meridian, Avitus, Moveposition, Echelon, and Avitus.
This partnership represents a critical step towards Movement Labs’ mainnet debut by improving interoperability and encouraging innovation in the blockchain arena.