TL;DR
- Thala expands to M2, establishing itself as one of the leading next-generation protocols on Ethereum.
- Partnering with Movement allows the project to maintain the security and speed of Move while accessing EVM users and liquidity.
- The platform powers Move DeFi projects such as Echelon Market, promoting the growth of the Move ecosystem in the multi-chain landscape.
Thala, a Move-based decentralized finance (DeFi) platform, has announced its partnership with Movement, an Ethereum layer 2 (L2) blockchain that combines the Move programming language with the Ethereum Virtual Machine (EVM).
This collaboration aims to power Movement with various DeFi features offered by the company, including a decentralized exchange (DEX), stablecoin, liquid staking, and token launch services.
The biggest #Move DeFi platform is coming to the Movement Network!@ThalaLabs is going Modular 🧱
Thala brings a full DeFi suite featuring a DEX, stablecoin, liquid staking, launchpad & more.
And now these amazing products will have access to EVM users & liquidity with M2 ⚡️ pic.twitter.com/DH0gyffxJI
— Movement (@movementlabsxyz) March 21, 2024
At the center of the project’s offerings is its Automated Market Maker DEX called Thala Swap, which facilitates efficient swaps and provides deep liquidity through different pool types.
Additionally, the platform offers the Move Dollar ($MOD), an overcollateralized stablecoin, and $sthAPT, a liquid staking solution.
These Thala services will now extend to the M2 DeFi ecosystem on Movement
Adam Cader, Co-Founder of Thala Labs, expressed his excitement about expanding to Movement’s M2, which is the first MEVM (Move + EVM) ZK L2.
By leveraging Aptos existing codebase, which already manages over $200 million in Total Value Locked (TVL), the platform aims to attract new users and EVM liquidity while ensuring the security of Move.
Additionally, the company is incubating Move-focused DeFi projects like Aptos Echelon Market, which could also expand to Movement.
Both Thala and Movement are strategically aligned to grow the Move ecosystem, according to the announcement.
Rushi Manche, Co-Founder of Movement Labs, emphasized the platform’s position as Move’s premier DeFi protocol, offering applications designed for speed and security.
With Thala‘s expansion to the Movement network, it can access Ethereum and EVM liquidity while serving as a core protocol for the Movement ecosystem.
