blockchainreporter.net
OKX Ventures, the investment branch of the prominent crypto exchange OKX, has started investment. As per the platform, it is commencing the series A investment round for the earliest Ethereum MoveVM L2 network “Movement Labs” which is a revolutionary blockchain development platform. OKX disclosed this development on its X account.
We are thrilled to announce the series A round investment for @movementlabsxyz, the first ethereum MoveVM layer 2 networkhttps://t.co/WaqniYVRRq pic.twitter.com/sV2fMgfVU2
— OKX Ventures (@OKX_Ventures) April 25, 2024
OKX Ventures Commences Series A Investment Specified for Movement Labs
In addition to this, the crypto exchange also shared a blog post on its official website to provide relevant insights. Movement Labs focuses on offering developer-friendly, scalable, and secure blockchain infrastructure. The respective infrastructure combines the finest aspects dealing with monolithic and modular architectures. The company permits the developers to create secure and high-performance applications.
In doing so, it leverages the network effects and liquidity of the Ethereum network. The integrated execution atmosphere that Movement Labs provides strengthens developers. For this purpose, it offers enhanced agency as well as the capability to develop without restrictions. Dora Yue, the founder of OKX Ventures, spoke on this endeavor.
The executive stated that the company is thrilled to take part in the investment round specified for Movement. Yue added that Movement operates as an Ethereum-Virtual-Machine modular network. It reportedly optimizes Solidity’s performance and security bottlenecks. Apart from that, it combines the parallelism and security that smart contracts use. In this respect, it focuses on developing a compatible, additionally flexible, cost-efficient, and faster L2 network.
The Endeavor Targets Facilitating Developers and Entrepreneurs
The M2 and M1 products of the project let the developers develop as well as deploy move language apps. Moreover, it enables them to create modular frameworks based on move language for blockchains. This strengthens the wide-level growth and adoption of the respective language. Keeping all these things in view, the platform is making great efforts to facilitate the developers.
OKX Ventures manages investments for the web3 forum OKX (the 2nd-biggest crypto exchange in terms of trading volume). The platform’s earliest capital commitment takes into account $100M. It pays great attention to delving into the finest blockchain programs on a worldwide scale. Hence, it supports the innovative blockchain technology advancement. Along with that, it also promotes the vigorous development of the worldwide blockchain industry.