Tag Archives: Polygon (Matic Network)

Polygon Network recently announced intentions to offset its carbon footprint this year. The blockchain project revealed that it had pledged $20 million toward its plans of becoming carbon neutral and climate effective. As per the announcement, Polygon noted that it aims to implement a multilayered strategy targeted at creating a sustainable future for its ecosystem, the crypto industry, and the planet at large. The Green Manifesto Polygon also unveiled its “Green Manifesto: A...

Venture capital firm Sequoia Capital led a financing round for the Ethereum layer 2 scaling solution Polygon, becoming the latest Silicon Valley company to invest in the Web3 space. According to CNBC on Monday (February 7, 2022), Polygon recently raised $450 million, with Sequoia Capital leading the investment. Other companies involved in the fundraising round include Softbank, Alameda Research, Tiger Global, and Galaxy Digital. Prominent individuals such as Reddit co-founder...

Leading Ethereum layer-2 scaling solution, Polygon, announced today that the much-awaited Ethereum Improvement Proposal (EIP) 1559 upgrade will go live on the mainnet next week. Polygon’s London HardFork Set to go Live In an official announcement on Wednesday, the India-based project noted that the upgrade, which will initiate the burning of MATIC, is scheduled to go live on the mainnet on January 18, 2022 at about 8 a.m. UTC. The EIP-1559 upgrade, commonly known as the...

Multi-sector blockchain protocol Terra (LUNA) has announced a proposal to deploy $139 million to five different DeFi projects across Ethereum, Solana, and Polygon to enhance UST’s use cases. The proposal, however, needs to be accepted by the Terra community through a vote of governance participants that’s likely at a later date. Terra as a Dominant Crypto Player The details of how UST and LUNA worth $139 will be used on different DeFi platforms are contained in the document...

Bugs and vulnerabilities are part of a blockchain network. Polygon revealed how it dodged a bullet after detecting a vulnerability, introduced a fix, upgraded the network, paid off a bounty to the whitehat hackers, all with a silent patch. Polygon’s Silent Patch According to the latest blog post by the team, it all started when two whitehat hackers informed the bug bounty platform, Immunefi of an issue in the Polygon PoS genesis contract on December 3rd. The vulnerability in...

The co-founder of Reddit continues with his cryptocurrency involvement with a new joint venture with the popular blockchain project Polygon to help developments in the Web3 sector. The press release shared with CryptoPotato informed that Seven Seven Six and Polygon plan to deploy $200 million for this new initiative. It will support startups aiming to work on social media platforms and Web3, or as the statement described them – protocols “exploring better ways for humans to...

The global investment manager – VanEck – expanded its cryptocurrency offerings by adding two new Exchange-Traded Notes (ETNs) tracking the performance of Avalanche and Polygon. The company has already launched such products on Bitcoin, Ethereum, Polkadot, Solana, and Tron. Avalanche And Polygon ETNs Joined The List The global investment management company – VanEck – disclosed the news in a recent post on Twitter. As a result, investors will be able to gain exposure to Polygon...

Ethereum layer 2 scaling solution Polygon has announced the acquisition of zero-knowledge (ZK) technology developer Mir for $400 million. As per reports, the platform conducted the purchase with 250 million MATIC tokens for $1.60. The acquisition was announced at the backdrop of Polygon’s “zk day” virtual event. Since the transaction, MATIC’s price has risen by more than 50%. The New Acquisition According to the official blog post, Mir’s team will be joining Polygon to...

Blockchain monitoring and workflow automation platform PARSIQ has recently completed the integration of the Polygon network into its ecosystem. PARSIQ Integrates Polygon According to a Monday press release shared with CryptoPotato, investors, traders, and development teams can now access several Polygon blockchain data in real-time via the PARSIQ platform, acquire immediate feedback, and explore various monitoring solutions concepts. PARSIQ employs several cutting-edge...

San Francisco-based digital asset management firm – Bitwise Asset Management – has announced the launch of its Bitwise Polygon (MATIC) Fund. According to an official press release shared with CryptoPotato, the Fund will serve as a professionally managed investment vehicle that will give Bitwise’s wealthy clients access to MATIC, the Polygon network native cryptocurrency. The firm noted that only accredited Bitwise clients can qualify for private placement subscriptions to the...