Category Archives: Polygon news

USDR Stablecoin Depegging Event USDR, a real estate-backed Polygon stablecoin, recently faced a significant depegging event, experiencing a sharp 40% drop in value in mere minutes. The crisis was triggered by the depletion of DAI reserves, leading to a rapid decline in USDR’s valuation. The Background Real USD (USDR) is a stablecoin operating on the[Read more…]

Polygon’s ApeChain Proposal for ApeCoin DAO Polygon Labs has put forth a compelling proposal for the development of a dedicated Layer-2 blockchain within ApeCoin DAO. Sandeep Nailwal, the co-founder of Polygon, envisions the creation of ApeChain, a zero-knowledge powered Layer-2, to catalyze the growth and expansion of the ApeCoin ecosystem. Nailwal firmly believes that ApeChain[Read more…]

Introduction Circle, the stablecoin issuer, has announced the minting of USD Coin (USDC) natively on Ethereum’s Layer-2 scaling protocol, Polygon. This groundbreaking development eliminates the need for bridging the stablecoin from Ethereum to another blockchain, providing easy accessibility to both users and developers. Seamless Integration with Polygon Circle’s Mint and developer APIs have seamlessly integrated[Read more…]

Polygon’s ApeChain Proposal Polygon unveiled a groundbreaking proposal on October 10 within the ApeCoin DAO forum. This proposal aims to establish a dedicated Layer 2 network for ApeCoin, known as “ApeChain”. Key Features of ApeChain The $3.35 Million Development Fund A pivotal component of the proposal involves creating a substantial development fund. The ApeCoin DAO[Read more…]

What is Polygon? Polygon is a suite of scaling solutions designed to empower developers to create decentralized applications (dapps) with high throughput, low transaction fees, and quick finality. By redirecting transactions from the Ethereum mainnet to a sidechain, a blockchain that operates in parallel with Ethereum, and a distinct Layer 2 zkEVM network, Polygon processes[Read more…]

Quick Take Polygon Labs co-founder Sandeep Nailwal has proposed a groundbreaking initiative for the ApeCoin DAO. The proposal involves the development of an Ethereum Layer 2 network called “ApeChain” using Polygon’s Chain Development Kit (CDK). This dedicated Layer 2 network, along with a substantial $3.35 million development fund from the ApeCoin DAO treasury, aims to[Read more…]

Competition Between Polygon and Optimism: Celo’s Layer-2 Solution Competition is heating up between Polygon and Optimism as they seek to offer solutions for Celo as it transitions into a layer-2 network. On that note, $MATIC and $OP are struggling with market uncertainties. Yet, investors have found solace in BorroeFinance ($ROE), which delivered 50% profits to[Read more…]

Polygon (MATIC) Price Analysis: Can Polygon Recover From -6% Drop? Polygon (MATIC) crypto price has sunk -6% amid broader de-risking in markets, triggered by the conflict between Israel and Hamas – but with MATIC price trading low – is Polygon going to zero? This comes just a week after co-founder Jaynti Kanani revealed he was[Read more…]

MATIC Price Analysis: Will MATIC Sustain Above $0.50? Despite the recent breakout with the market recovery, the MATIC coin price found a bearish setback sooner than expected. The sudden bearish takeover reflects the weakness in buying spirit and warns of a sharp correction. The higher price rejections leading to the 5.65% drop in MATIC price[Read more…]

The Arrival of Polygon 2.0 In an exciting week for blockchain enthusiasts, Polygon 2.0 has emerged as a game-changer, introducing groundbreaking advancements that are set to reshape the future of the crypto landscape. Over the past seven days, Polygon’s testnet witnessed the highly anticipated launch of Polygon 2.0’s POL contracts, accompanied by remarkable achievements in[Read more…]