MOVE Token Moves from Ethereum to Movement Network to Boost Buyback Transparency and Re-Enable Withdrawals
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Movement Foundation disclosed on X on November 19 that, after completing a four-month buyback commitment, it intends to improve transparency around tokens held in the buyback wallet. The notice emphasizes enhanced governance clarity for MOVE holders and strengthens the token’s disclosure framework.
To support ecosystem projects and incentive measures on the native Movement Network, the foundation plans to transfer a portion of MOVE from the Ethereum mainnet Strategic Reserve to the Movement Network Strategic Reserve.
In addition, Movement stated that it will continue to periodically dispatch ERC-20 tokens to exchanges to supplement and rebalance the token supply, thereby restoring withdrawal functionality for users.