Research Summary
The report discusses the state of Polygon in Q2 2023. Polygon Labs unveiled Polygon 2.0, a network of zero-knowledge Layer-2 blockchains aiming to become the “Value Layer of the Internet”. It brings significant updates to protocol architecture, tokenomics, and governance. Polygon zkEVM experienced steady growth, achieving 200,000 unique addresses by the end of the quarter. Despite being listed in the SEC’s complaints against Binance and Coinbase, Polygon’s network fundamentals remained unaffected. The company expanded its partnerships with prominent companies and institutions, including Franklin Templeton, Securitize, Mastercard, and Warner Music Group.
Actionable Insights
- Polygon 2.0: The unveiling of Polygon 2.0, a network of zero-knowledge Layer-2 blockchains, is a significant development. It aims to become the “Value Layer of the Internet” and brings significant updates to protocol architecture, tokenomics, and governance.
- Steady Growth of Polygon zkEVM: The steady growth of Polygon zkEVM, which achieved 200,000 unique addresses by the end of the quarter, indicates the platform’s increasing adoption.
- Partnerships: Polygon’s expansion of partnerships with prominent companies and institutions, including Franklin Templeton, Securitize, Mastercard, and Warner Music Group, suggests a growing acceptance and integration of its technology in various sectors.
