polygon

According to Polygon, the Miden partner mainnet is now live and connected to Polygon's cross-chain aggregation layer Agglayer, which can access the liquidity of the entire blockchain ecosystem.Miden officials also announced that the network is operational on the partner mainnet.

According to monitoring by Arkham, the address marked as the Polygon multi-signature wallet "0xFA5" has transferred a total of 52,928,000 POL to the staking contract address, valued at approximately 4.82 million USD.Market analysis suggests that the recent increase in Polygon staking activities is related to the rise in APY, which may also provide some support for POL and alleviate its downward price pressure.

Polygon announced the launch of Polygon CDK Besu, supporting banks and financial institutions to deploy private blockchains based on Hyperledger Besu, and connect to other blockchains and their liquidity through Agglayer from the outset. It currently supports deployment on the Ethereum mainnet.

The Japanese yen stablecoin issuer JPYC posted on the X platform that the issuance processing of JPYC on the Polygon network experienced delays starting around 14:00. The related issues have now been resolved, and the backlog of issuance applications is being processed in order.JPYC emphasized that the JPYC issuance services on other networks and all redemption processing across networks were not affected by this incident.

Polygon Labs official announcement, Bor v2.1.3 is officially released to the public, previously distributed in private version form to validators and major infrastructure providers. This update fixes two medium-severity denial-of-service vulnerabilities in BlockSTM V2 parallel block execution, both submitted by security researchers through the Immunefi bug bounty program.Unbounded keccak256 cache issue: Attackers can fill hundreds of MiB of cache during the speculative execution phase by constructing specific transactions, leading to node memory exhaustion and delayed block production. The fix is to set a capacity limit on the shared cache. Repeated code hash calculation issue in parallel execution: A single transaction can cause the parallel processor to take about 11 seconds, severely affecting node activity. The fix is to cache code hash results on a per-transaction basis.In addition, this update also includes several internal hardening measures: the transaction pool address filtering adds interception for EIP-7702 SetCode authorization, RPC batch execution pool concurrency limit fixes, consistency fixes for reading balances across self-destruct boundaries in parallel execution, and an automatic cleanup mechanism for pending transactions (default 3 hours). The affected versions are Bor v2.1.1 and v2.1.2. v2.1.3 is a non-hard fork, and nodes can upgrade individually without coordination. No exploitation records of the two vulnerabilities have been found on the mainnet and testnet Amoy.

According to the official blog of Polygon, Polygon Labs announced the completion of its acquisition of Coinme, and its payment infrastructure product Polygon Open Money Stack (OMS) has officially become a payment platform regulated by the United States.Currently, the platform covers 48 states in the U.S., holds 37 state-level money transfer licenses and 11 exemptions, and has registered as a money services business with FinCEN.

On October 12, Polygon announced that its Open Money Stack (OMS) has launched automated stablecoin payment operations. The team can set the recipient range, payment budget, and operation window all at once. At the start of the cycle, the product sends a payment request without the need to re-sign for each transfer.The pre-set content by the team includes approved payment operations and recipient range, project expenditure limits, operation window, and expiration time, as well as the ability to close current rules. The wallet will verify the recipient range, expenditure limits, and expiration time on-chain, and the team can also close the rules in advance to prevent the next payment request.Related terms are recorded in the Sessions Module on the wallet chain and executed at the contract layer. Once approved, the backend cannot expand the recipient range, increase expenditure limits, or extend expiration time; requests that exceed the agreed terms will be rejected. This process is part of the same system as deposits, holding stablecoin balances, and subsequent settlement routing.

According to monitoring by Sandeep Nailwal, the Polygon protocol destroyed 100 million POL two weeks ago, accounting for about 1% of the total token supply, with funds sourced from network-generated transaction fees. Currently, another 22 million POL are prepared to enter the next phase of destruction, accounting for about 0.2% of the total supply.Polygon has not fully disclosed the impact of OMS on POL, and relevant information will be announced soon. Last week, the annualized transaction volume processed by OMS exceeded 1 billion dollars for the second consecutive week.

Regarding the announcement "Polygon is not dead" released by Polygon's official Twitter, which is suspected to mock the shutdown of Abstract, Polygon founder Sandeep responded that the dissemination effect of the related content "did not meet expectations," and some people attributed a completely different meaning to it. The Polygon marketing team was self-deprecating, as Polygon's fundamentals are still growing, and there was no intention to imply anything about Abstract's shutdown.Sandeep added that he was also confused when he first saw the content and emphasized that he has great respect for Abstract founder Luca Netz and his team. Since Polygon itself had also terminated the zkEVM project, he empathizes with the pain and would not mock the other party, wishing Luca and the Pudgy Penguins team all the best.

The Polygon Foundation announced on the X platform that the PIP-92 proposal has been officially activated, and the staking rewards for the Polygon Chain will be increased to an expected 7.7%. This incentive will last until December 1, 2026.According to PIP-92, the 27.3 million POL priority fees accumulated by the network will be used to enhance the reward earnings for stakers over the next two months.

The Polygon Foundation announced that the staking rewards for Polygon Chain are expected to increase to 7.7% on October 1. According to PIP-92, the accumulated 27.3 million POL priority fees in the network will be used to enhance staker rewards in the next two months.

Polygon co-founder Sandeep posted on the X platform stating that the POL community has recently accumulated and permanently destroyed 100 million POL through on-chain revenue, accounting for about 1% of the total supply, and will additionally destroy approximately 25 million POL.Sandeep also mentioned that POL (formerly MATIC) is still "the most undervalued and overlooked project." According to him, Polymarket has launched perpetual contracts on Polygon, and with the recent upgrade, Polygon PoS is gradually evolving towards a more advanced blockchain, expecting to achieve a 1 millisecond confirmation time through block flow in the future. Additionally, OMS is about to enable Polygon to handle approximately 1 million new transactions daily.

According to The Block, the Solana Foundation announced the appointment of Rachel Conlan as Chief Strategy Officer and Jamal Raees as General Manager of Payment Business to expand institutional adoption and payment operations. Conlan previously worked at Binance for three years and held senior management positions at companies such as OKX; Raees comes from Polygon Labs and will be responsible for collaborating with payment companies, enterprises, and ecosystem partners to promote Solana as a global payment infrastructure.The Solana Foundation stated that this year, Solana's stablecoin trading volume has exceeded $50 trillion, the on-chain real-world assets (RWA) scale has surpassed $4.5 billion, and the supply of tokenized stocks has exceeded $620 million.

Polygon Foundation CEO Sandeep Nailwal announced that 100 million POL has been permanently destroyed, accounting for about 1% of the total supply. Previously, Sandeep Nailwal stated that the relevant destruction contract is ready and can be triggered by any member of the community, and mentioned that the community may consider conducting a POL destruction once every quarter in the future.

Polygon founder Sandeep posted on platform X that Polygon is ready to permanently burn 100 million POL tokens. The related contract is currently in the testnet and will go live on the mainnet after the final signature from the Polygon Council.After going live, anyone can trigger the first burn, and then community members can execute a burn operation once every quarter.

According to Blockaid monitoring, the QiDao Protocol stablecoin miMATIC on Polygon is currently still in a depegged state, reported at approximately 0.86 USD, about 14% lower than its 1 USD peg price.Blockaid stated that the depegging situation is still ongoing as of now.

Sandeep Nailwal, CEO of the Polygon Foundation, stated that Polygon is preparing to deploy a permissionless burn contract that allows anyone to permanently burn 100 million POL, which accounts for approximately 83% of the 121 million tokens held by the Polygon base fee collector. The contract is currently live on the testnet and will be deployed to the mainnet after the security committee completes the final signature.The first round of burns will permanently destroy 100 million POL, after which community members can trigger burns every quarter. Polygon's documentation indicates that the base fee is determined by the network and will be burned, with Nailwal stating that each base fee will inject POL into the collector. Based on the above data, approximately 21 million POL will remain in the collector after the initial burn.This burn represents about 1% of the initial supply of 10 billion POL, and based on a total supply of approximately 10.716 billion as shown by Blockscout, it accounts for about 0.93%. The burn will not set a hard cap on POL, which will continue to be issued, with an annual issuance rate of about 2% after June 2025. Nailwal also mentioned that POL has entered deflation starting January 2026, citing data from his "ChatGPT Analyst" that Polygon's revenue in 2026 will be $24.5 million, higher than Arbitrum's $8.41 million and Near's $5.6 million.

The official listing account of Kraken announced that TCS will soon be launched. TCS Blockchain is a blockchain-as-a-service platform aimed at the transportation industry, using ERC-20 tokens on Polygon to settle freight invoices without the need for traditional factoring intermediaries. The token trading will begin on September 9.

According to DefiLlama's on-chain cross-chain net flow data, Robinhood Chain had a net outflow of 306.19 million USD last week, ranking first among all chains in terms of outflow scale, far exceeding Hyperliquid (-179.51 million USD) and Polygon (-145.33 million USD).In terms of net inflow, Arbitrum leads with 184.14 million USD, followed by BSC (+142.38 million USD), Plasma (+120.38 million USD), Ethereum (+112.9 million USD), and Avalanche (+102.43 million USD).

Sandeep Nailwal, co-founder of Polygon and CEO of the foundation, stated that today he initiated a cryptocurrency campaign to support the people of Nepal and donate to the Nepalese Prime Minister's Disaster Relief Fund, with the donation link provided. This pathway utilizes blockchain technology to ensure that funds enter the government relief fund in the local currency.The campaign is supported by Polygon's Open Money Stack, Coinme, and Cross River Bank. Blockchain for Impact has pledged to donate $100,000. Nailwal mentioned that stablecoins are suitable for use when funds need to be quickly delivered to those in need.Nailwal stated that he was born in the Kumaon region of Uttarakhand, India, adjacent to Nepal, and his maternal family also hails from that area. Communities on both sides of the Indonesia border have been connected for generations through family, culture, faith, food, trade, and daily life. India and Nepal are often referred to as having a familial and shared life bond known as "roti-beti ka rishta." He hopes that people will participate in Nepal's relief and reconstruction using stablecoins.