Polygon


Policy

Myanmar Shadow Government to Start Neobank With Crypto Rails to Fund Fight Against Military Junta

The National Unity Government (NUG) bank is set to run on Polygon and do currency swaps via Uniswap v3 pools and USDT stablecoins.

The bank's web-based app will have a beta launch on July 22, and be available on Google Play and Apple’s App Store. (Image from SDB)

Finance

Solana Foundation, Polygon Lead $30M Fundraise for Web3 Firm Cosmic Wire

The startup offers metaverse creation tools and a list of general blockchain infrastructure solutions.

hand holding $20 bill in front of trees

Tech

Polygon Mulls Governance Restructure in Polygon 2.0 Roadmap

Developers have proposed an “Ecosystem Council” to push smart contract upgrades, as well as changes to how community-based funding works.

(Arnaud Jaegers/Unsplash)

Markets

More Tokenized Treasuries Arrive on Polygon as Digital Bond Market Expands

Ondo’s OUSG token, one of the largest on-chain tokenized Treasury products, has accrued $134 million of assets under management on Ethereum.

U.S. Treasury Department seal (Bill Perry/Shutterstock, modified by CoinDesk using PhotoMosh)

Tech

Polygon Proposes Token Switch From MATIC to POL for More Utility

If approved by the community, POL will work as a multipurpose token that can be used to validate multiple Polygon-based networks.

(Polygon Labs)

Tech

What Is Ethereum’s ‘Data Availability' Problem, and Why Does It Matter?

Separate “data availability” layers could reduce congestion on the Ethereum network by making it easier for ancillary “rollup” networks to verify that transactional details exist and are available to download if needed — without actually downloading them. The concept might offer an alternative to Ethereum’s own proposed solution, seen as years away.

Avail founder Anurag Arjun. (Avail)

Markets

MATIC Surges 10% as Polygon's 2.0 Upgrade Draws Closer

Open interest for MATIC trading pairs has risen from $109 million to $160 million in the past 24 hours.

MATIC open interest (Coinalyze)

Tech

Polygon Labs Promotes Boiron to CEO; President Wyatt to Depart

The management changes come as Polygon, which runs two of the most closely watched networks for scaling Ethereum transactions, is in the midst of a rebrand to the next chapter of its corporate development, known as "Polygon 2.0."

Polygon Labs CEO Marc Boiron (Polygon Labs)

Web3

Azuki Is Rebuilding After Its Elementals Mint Mishap

Azuki’s latest expansion of its NFT ecosystem missed the mark, while Candy Digital and Palm NFT are merging together to create a superpowered NFT production studio. Also, Warner Music Group and Polygon are launching a blockchain music accelerator program.

Azuki Elementals (OpenSea)

Finance

Celsius to Potentially Sell More Than $170M in ADA, MATIC, SOL and Altcoins for BTC, ETH

Court documents from last November give a rough picture of the lender’s altcoin holdings.

(Unsplash/Modified by CoinDesk)