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Tag Archives: Polygon (MATIC)

MATIC Addresses on Polygon Explode to 2-Year Highs: Data

Growing PoS adoption reflects a glaring shift in the digital asset industry. While Ethereum and layer 2s networks have dominated substantial network activity conversation, Polygon has mostly kept a low profile this year. However, the latest stats show an uptick in the number of new addresses created daily on it. According to the data shared by crypto analyst and trader Ali Martinez, the number of new MATIC addresses created on the Polygon network daily on May 22nd stands at...

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Polygon Announces Polygon Bridge for its Zero-Knowledge Rollup

Polygon announced that Polygon Bridge is now available for Polygon zkEVM. The development comes a month after the launch of the zero-knowledge rollup on Mainnet Beta. The symbolic first transaction on Polygon zkEVM Mainnet Beta was performed by Ethereum co-founder Vitalik Buterin. Polygon zkEVM Mainnet Beta is designed to be an all-purpose Ethereum scaling protocol that allows developers means to build on it with the usage being similar to Ethereum, without modifying...

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Polygon With an Open Letter to EU Parliament, Seeks Amendments to Data Act

In the letter, Polygon’s board requests amendments to Article 30 of the EU Data Act, which the board fears could stifle blockchain development in its current format. The company behind Polygon, a Proof-of-Stake multi-chain blockchain platform around its ERC-20 token MATIC, has sent an open letter to representatives of the EU Parliament regarding Article 30 of the EU Data Act. Unintended Consequences Of EU Policy The EU Data Act, whose main purpose is to break up monopolies...

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Polygon Labs Becomes Latest Company to Slash Workforce With 100 Job Cuts

Polygon Labs announced that it will reduce its team by 20% while stating that the company maintains a robust treasury. Meanwhile, the job cut comes shortly after the firm outlined plans at the end of 2022 to hire more employees. According to a press release on Tuesday (Feb. 21, 2023), Polygon Labs said the 20% slash affected 100 job positions. Part of the announcement read: “Earlier this year, we consolidated multiple business units under Polygon Labs. As part of this...

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Indian Crypto Companies’ Response to the FTX Collapse

The quick downfall of FTX with an $8-10 billion deficit in its balance sheet has left the broader cryptocurrency market reeling under its cascading effects. Besides Proof of Reserves (PoR) and Reserves to Liability (R2L) Ratio data, Indian crypto exchanges, battling low volume caused by high taxation and an unfriendly regulatory environment, have responded to the evolving situation with some fresh initiatives. Polygon CEO’s Self-Custody Buzz Polygon CEO Sandeep Nailwal was...

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Starbucks is Building a ‘Web 3 Experience’ Alongside Polygon

Starbucks – the world-renowned coffee house chain – is taking its first steps into the world of web 3. In partnership with Polygon, the company is building a blockchain-based loyalty program called Starbucks Odyssey, allowing members to purchase non-fungible tokens (NFTs) representing digital collectible stamps. Starbucks to Integrate NFTs As announced by Starbucks on Monday, the new program will be available to members of the existing Starbucks Rewards loyalty program, and...

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OpenSea Introduces Polygon Support on Seaport

NFT marketplace giant OpenSea announced support for the layer-2 blockchain Polygon on its new Web 3 protocol Seaport. The integration comes with an expanded list of features, including the ability for users to use Polygon’s MATIC as a payment option. In a blog post on Tuesday (August 30, 2022), OpenSea said that the migration of Polygon to Seaport, with the blockchain formerly powered by the Ox protocol, will enable more features for a robust buying and selling experience...

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British Crypto Investment Firm Launches Avalanche, Cosmos, Polygon ETPs

Crypto ETP issuer ETC Group has announced the launch of three crypto exchange-traded products tracking the performance of Avalanche, Cosmos, and Polygon. New Crypto Investment Vehicles According to a report by ETF Stream, the latest investment vehicles – ETC Group Physical Avalanche ETP (AVAL), the ETC Group Physical Cosmos ETP (ATME), and the ETC Group Physical Polygon ETP (MTCE) – will track the price of the AVAX, ATOM, and MATIC. The three new products were unveiled via...

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