Hello, Mover Community! With the departure of June, we are excited to bring you an update on the events that transpired during this time and present you with comprehensive details regarding our notable accomplishments.
Mover’s top achievements for May:
- Trust Wallet support
- Auto rebalancing system on Mover
- New $MOVER Token utility: reduce bridging fees
Trust Wallet support
Mover continues to move towards maximum adaptability, aiming to provide a user-friendly and convenient interface for all user groups. Adding support for as many crypto wallets as possible is an important milestone on this path. This month, we have successfully added support for Trust Wallet, a wallet with millions of active users worldwide. From now on, these users can easily and effortlessly utilize Mover to its fullest potential.
Automatic rebalancing system on Mover
Liquidity shortage on bridges is one of the most common issues faced by users of decentralized bridges. When there is a high influx of users and a significant transaction volume, even the largest liquidity reserves can be depleted. Replenishing the pools of depleted networks is the responsibility of the bridge, which must maintain the necessary liquidity level in any situation. Mover, being a decentralized bridge, is also susceptible to this problem. However, our team has successfully addressed this issue by developing an automatic liquidity pool rebalancing system in June.
Now, when the liquidity falls below acceptable thresholds, our system will automatically replenish the liquidity reserves to the required level. This ensures stability and uninterrupted operation of Mover, maintaining a consistent level of liquidity.
New $MOVER Token utility: reduce bridging fees
Following the Mover roadmap, our team is dedicated to expanding the range of utilities for $MOVER, aiming to provide even greater value and potential for its usage.
The daily transaction volume is consistently increasing, and we are witnessing a steady rise in interest from users utilizing Mover for bridging purposes. This is truly exhilarating. Specifically for those who regularly use Mover and consistently pay the protocol fee, we have introduced the opportunity to reduce commission charges to zero and make them completely free. Yes, you heard it right! From now on, if a user holds 500 $MOVER in their wallet, they will receive a 50% discount on the protocol fee. And if they holds 1000 $MOVER, the fees will be waived entirely. This innovation will help support active Mover users while creating even greater value for $MOVER itself.
