
The deal would reportedly value the layer-2 developer at around $3 billion, Fortune reported.
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While the hacked funds were fully recovered, the Thala token is still down roughly 35% since the incident occurred.
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The fund will support protocols targeting the Move programming language and interoperability with the Ethereum ecosystem.
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Apps will be able to settle directly on Movement’s L2 with fast finality ‘postconfirmations’ secured by stakers, the co-founder said.
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Movement Labs joins Polygon’s AggLayer to boost blockchain interoperability and protect developers against 90% of auditor-prioritized attack vectors.
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