Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

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Asher
5 days ago
This article is approximately 956 words,and reading the entire article takes about 2 minutes
There is no interaction cost, the amount of financing is high, and the potential airdrop is expected to be large.

Original | Odaily Planet Daily

Author | Asher

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

Movement: Building the first L2 using Move on Ethereum

Reasons to participate

Movement is a modular framework for building and deploying Move-based infrastructure, applications, and blockchains in any distributed environment. Movement co-founders Rushi Manche and Cooper Scanlon said they hope to build the first L2 using Move on Ethereum, and the company also plans to launch its own token, tentatively named MOVE.

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

Image source: Official Twitter

At present, Movement has completed secondary financing with an amount of over 40 million US dollars, which are:

  • On September 13, 2023, Movement Labs announced the completion of a US$3.4 million Pre-Seed round of financing, led by Varys Capital, dao 5, Blizzard The Avalanche Fund, Borderless Capital and its cross-chain fund focused on the Wormhole ecosystem, with participation from Colony, Interop Ventures, Elixir Capital, and BENQI.

  • On April 26, 2024, Movement Labs announced the completion of a US$38 million Series A financing round, led by Polychain Capital, with participation from Hack VC, dao 5 and Robot Ventures.

At the same time, on May 1 this year, Binance Labs announced an investment in Movement Labs, but the specific amount has not been disclosed.

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

Binance Labs Announces Investment in Movement Labs

Interactive Tutorial

Although the Movement incentivized testnet has not yet started, you can download the wallet, receive the test, prepare for the test, and complete the social tasks.

STEP 1. Download Razor Wallet from Google Store ( click here to download the link )

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 2. Create a personal wallet and save the private key according to the prompts

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 3. Open the wallet and switch the network to M1 Devnet and M2 Devnet to receive the test coins (the operation in the figure below is for M1 Devnet, and the method for receiving test coins for M2 Devnet is the same)

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 4. Switch the network to M1 Devnet and enter the testnet swap website ( click here to jump to the link ) and connect to Razor Wallet, and exchange the MOVE test coin into any token to complete a swap interaction (the operation in the figure below is to exchange MOVE into BTC)

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 5. Add liquidity (the following operation forms a liquidity pool with MOVE and BTC)

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

summary

For Movement, there is currently little interactive content available, but it is still worth paying attention to as it has received investments from Binance Labs, OKX Ventures, and Polychain Capital.

According to official information, Galxe Galaxy Mission is under testing, and the test points will be reset to zero; after the official launch, you can do the guild identity/role mission. In addition, for those who have paid attention to it early, we can enter the official Discord to upgrade the chat level to unlock the three early roles of chatty/chattier/chattiest on 8/16/24, which may be rewarded when token airdrops are issued in the future.

Initia: The first Cosmos IBC-compatible MoveVM

Reasons to participate

Initia is an L1 on Cosmos that leverages OP Rollups application-specific L2. Through Initias architecture, including L1, L2, and communication layers, developers can easily launch application-specific blockchains based on Initia L2 without having to understand complex chain-level infrastructure or run a validator set.

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

Image source: Official Twitter

Currently, Initia announced on February 27 this year that it had completed a US$7.5 million financing round, led by Delphi Ventures and Hack VC, with participation from Nascent, Figment Capital, Big Brain and A.Capital, as well as angel investors including anonymous cryptocurrency trader Cobie, DCF God, Split Capital co-founder Zaheer Ebtikar, Fiskantes and WSB Mod, and Celestia COO Nick White.

At the same time, it is worth noting that as early as October 12 last year, Binance Labs announced its investment in Initia. The funds have not been disclosed yet. The funds raised will be used to support the development of Initia infrastructure and developer tools.

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

Binance Labs announces investment in Initia

Interactive Tutorial

On the evening of May 14, Initia announced the launch of the incentivized public testnet initiation-1 , which will last for 8 weeks, and the mainnet is expected to be launched later this year. Participants can explore Omnitia, use testnet applications, join Initia Militia, complete tasks and collect NFT cards, and merge cards to summon the Forbidden One.

STEP 1. Download Initia Wallet from Google Store ( click here to download the link )

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 2. You can register a wallet using Google Mail, Discord, Twitter, or Facebook (the following figure shows registration using Twitter). Select one and enter your password to register.

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 3. Copy the created wallet address to receive the test coins ( click here to jump to the website )

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 4. Purchase a domain name: Enter the name you want to use. If it says the domain name is available, you can complete the payment ( click here to jump to the domain name purchase website )

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 5. Perform a swap: Convert INT to USDC ( Click here to jump to the swap website )

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 6. Stake: Select any of the following nodes to stake USDC and NIT (click here to jump to the pledge website)

Binance Labs invested in early-stage potential projects that you must participate in this week: Movement and Initia

STEP 7. Mint Baby Jennie NFT: After all 6 items in the picture below are minted, you can mint Baby Jennie NFT ( click here to jump to the minting website )

STEP 8. Feed Baby Jennie

summary

This 8-week testnet incentive campaign has no interaction costs, and the Binance Labs investment project is worthy of special attention.

According to official information, most of the problems encountered so far are due to too many addresses participating in the testnet activity, which shows how popular it is. Therefore, if you encounter problems doing the above tasks, you can only try repeatedly until you complete them.

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