Polynomial will cease operations, with plans to restart the project in the future
BlockBeats News, February 15th, the DeFi derivatives protocol Polynomial announced in a post that the on-chain derivatives market has grown 100 times in recent years. While its core strategic direction was deemed correct, the execution fell short of expectations, leading the team to decide to gradually shut down its current operations.
Polynomial stated that the platform has accumulated data from 27 million transactions, has systematically identified product moats and key competitive factors, and will prioritize building long-term barriers to entry in the next phase. The team emphasized user fund security and will follow a standardized process to complete the shutdown.
At the same time, Polynomial stated that it will not give up on its mission to "achieve the large-scale implementation of on-chain derivatives" and will relaunch the project with the same team in the future, optimize the execution path, and provide existing users with priority participation rights.
BlockBeats previously reported that on May 11, 2023, Polynomial Protocol announced the completion of a seed round of financing. The specific amount of financing was not disclosed. Road Capital, Caballeros Capital, Archetype, as well as individuals investors such as Kain Warwick from Synthetix, Jordan from Synthetix, Scott Sunarto from eGirl Capital, Eden Au from The Block, Mike from Lyra, and Pranav from Graph participated in the investment.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Major Altcoin Cleanup: 18 Cryptocurrencies Delisted from South Korean Exchanges

Synthetix releases the 2026 roadmap, focusing on six major directions including stock buybacks and multi-collateral trading

The decentralized derivatives protocol Synthetix has officially launched its perpetual contract DEX on the Ethereum mainnet.

Synthetix is set to return to the Ethereum mainnet on December 17th, with SLP launching simultaneously.
Base Protocol Coin Launch, Is It Reliable This Time?

Robinhood's Cryptocurrency Trading Volume Increased by 61% in August to $17.5 Billion, with Bitstamp Contributing $10.1 Billion

US Treasury's $5 billion buyback of 10-year bonds fails to halt their sell-off

Why Capital Is No Longer Buying Into Narratives in This Market Cycle?

Planned Financial Crisis: the new global monetary architecture of the dollar

Crypto never closes, but Bitcoin, Ethereum, XRP and Solana now move on Wall Street time

Where and How to Pay with Cryptocurrency Abroad. And Most Importantly — Why

Bitcoin Finance: The New Institutional Custodian is the Code

SPY Stock Slips as Oil Prices Reclaim $100 and Treasury Yields Rise

Argentina No Longer Adopts Stablecoins Out of Necessity: They Are Integrating Them into Their Financial Life

Anchorage Digital opens institutional access to Frgmnt’s fUSD and sfUSD

Iran Eases Currency Controls and Expands Cryptocurrency Use for Trade

BitMine’s staked ETH equals nearly 12% of Ethereum’s active stake, but who controls it?

Sensex & Nifty 50 Fall Today: 5 Main Reasons Behind the Stock Market Crash

Oracle Stock Price Target: Could ORCL Reach $320, as Mizuho Suggests?

Oracle Stock Price: Record Cloud Revenue Growth of 121% Sent ORCL Surging After Earnings

Your Bitcoin trade can now get liquidated because a stock crashed

Druckenmiller, Legendary Trader, Holds Closed-Door Meeting: US Rates Too Low, Dovish Stance Absurd, AI May Have Profit Bubble

Linera Community Fundraising Falls Short, Why Is the 'a16z Concept' Struggling to Sell?

From Robinhood's Review to ARC's Preparation: How to Capture Early Opportunities in New Chains?

Dialogue with Fejau: The Next Round of the Bull Market for Digital Assets is Finally Here

Brent Oil Hits $109: Rally to $120 or Sharp Pullback?

Zamanat Targets GCC’s $250 Billion SME Financing Gap With Up to $100 Million Tokenized Private Credit Fund

CoinFactory Founder Rasoul Rezvani Unveils the Vision Behind RZ Oasis

What You Thought Was a Safe Compliance Check Actually Handed Your Assets to Hackers









