Movement Labs co-founder Cooper: Community contribution determines the success of a chain or application | FAT Awards 20

On September 16, the annual “FAT Awards 2024” ceremony opened grandly at the Conrad Singapore.

FAT is a ranking ceremony + summit forum brand founded by Odaily Planet Daily in 2020, which aims to reward the leaders and innovators of Web3 and the crypto industry, and focus on value paradigms and consensus moments. In 2024, when the crypto industry is changing with each passing day and narratives are recognized by the mainstream world, fresh narratives are surging, the ecology is flourishing, and high-quality projects are launched one after another, Odaily Planet Daily will once again start the FAT ranking selection and hold an offline ceremony.

At the event, Movement Labs co-founder Cooper and Movement Labs marketing director Will held a fireside chat on the theme of Powering the Future of Web3: Movement Labs Next-Generation Blockchain Infrastructure.

The following is a transcript of the discussion, condensed and edited by Odaily Planet Daily. Enjoy~

WILL: Can you give us a brief introduction to Movement Labs?

COOPER : There will be many Layer 1 and Layer 2 coming to the market in the next few years, and if you are a Layer 1, it will be very difficult to start when the market is bad. Movement Labs is faster and safer, and similar to Rust, we can run directly on Ethereum, which makes it more convenient to use the Move language. All applications built on our platform can access any address-compatible blockchain without making any sacrifبرفs

W: The entire Layer 2 transaction volume is already less than 200 million. Does Movement Labs still have a chance?

COOPER : We entered the market through Ethereum and did not need to reinvent the wheel. ETH is the fastest way to deliver goods and services, and the other end of Web3 is decentralization. The future of tokens is not about how much we can hoard, but about giving us the opportunity to reward developers, KOLs, and community members. The contribution of community members is related to the success of the chain or application. We need to determine how to identify the contribution of others to the network in addition to developers, and design programs to measure this contribution. In the previous market, because of the fragmentation of the ecosystem, from builders to all stakeholders, no rewards were received from the network, and when the network or market became difficult, they had no reason to stick with it. Therefore, giving back to the community is the most important part.

W: What results were achieved from the global hackathon “Battle of Olympus” organized by Movement Labs?

COOPER : Its happening all over the world and its being led by our ecosystem. We had a lot of developer and community events during Korea Blockchain Week and Singapore ٹوکن 2049, some of which were even done by multiple teams in our ecosystem working together, and that energy comes from the community spirit. At the same time, in competitions like this, there are a lot of different ways for applications to get recognition from us and share our large community. We have thousands of users in their Discord or Twitter, and now we have 320,000 and 200,000 users on these two platforms combined. There are tens of thousands of active users and transactions on the chain, which makes everyones data available in the network. Now we are creating an experience that users like to enjoy interacting on the chain. We hope that this is a similar experience in the community, where you get special roles when you complete specific tasks on the network, and these tasks also provide very good data points, and whoever gets the reward is the active user. This collaboration allows applications to build on each other, get community funding and startup funds, and benefit from their community. Its a very symbiotic relationship.

W: In addition to pursuing dreams, finding funds is also very important for teams entering this industry. But VC is changing. How do you view the current venture capital environment?

COOPER : Although there is no bull market, there is a good market , just like the market in December last year. There is no reason for the current market to follow the previous rules. It is expected that in 2025, market sentiment will slow down, and a bull market may not be necessary in the future. Investment is starting to slow down, so many teams now need to be prepared to raise funds at a lower valuation than expected, which is the current situation.

W: What is the biggest challenge for you personally?

COOPER : Bringing a new programming language to Web3. My co-founder Rushi and I dropped out of college to build products, we talked to investors nonstop, and built communities. This experience is not something most people have. So we wanted to create a system that recognizes peoples contributions, no matter where they come from. This is the most interesting thing because we have to be truly different, both in terms of applications and teams, and this is a standard. Only in this way can we compete with other blockchains.

W: How should users participate in construction?

COOPER : If you want to contribute to the new ecosystem, there is definitely a place for you. If you like memes, there are opportunities for you in Movement Labs and the app. If you are a service provider, there is a place for you here. If you want to build a business, there are also many opportunities here. You can use this new platform to create anything you want, and there is a community to power you.

This article is sourced from the internet: Movement Labs co-founder Cooper: Community contribution determines the success of a chain or application | FAT Awards 2024

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