<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Union Labs, a blockchain interoperability developer, has partnered with Polygon to integrate its solutions with the latter's AggLayer.
      </p>
    </li>
    <li>
      <p>
        The integration will result in enhanced liquidity between AggLayer-connected chains and IBC-enabled chains, ensuring a trustless, efficient, and low-latency process.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://markets.businessinsider.com/news/currencies/union-labs-plans-polygon-to-cosmos-bridge-with-new-agglayer-integration-1033261563">
      Business Insider
    </a>
  </p>
  <p>
    <a href="https://www.coindesk.com/tech/2024/04/18/union-labs-plans-polygon-to-cosmos-bridge-with-new-agglayer-integration/">
      CoinDesk
    </a>
     
  </p>
</div>


Web3 Ecosystem

PROMINENT_CATEGORY

<div>
 <p>Blockchain interoperability developer, Union Labs, has formed a partnership with Polygon for integrating its solutions with Polygon's AggLayer. This integration is expected to boost liquidity between AggLayer-connected chains and IBC-enabled chains, thus creating a process which is trustless, efficient, and has low latency.</p>
</div>

Union Labs plans to integrate with AggLayer for blockchain interoperability and liquidity sharing

<div>
 
 <p>Polygon, a layer-2 scaling solutions provider primarily for Ethereum, has teamed up with StarkWare, a firm that provides infrastructure solutions for scaling on Ethereum. Their collaborative endeavor aims at designing and integrating a novel cryptographic proof system known as "Circle STARKs," with the intention to enhance Ethereum's scalability.</p>
 <p>The introduction of Circle STARKs is intended to expedite the rollup proving process, consequently escalating blockchain scalability and efficiency. The outcome of this development will be transactions that are not only quicker, but also more cost-effective.</p>
 <p>Polygon anticipates that this advanced technology will lead to a 7–10x improvement in the proving process of its newest proving system, Plonky3.</p>
 
</div>

Polygon Labs and StarkWare partner to develop new cryptographic proof to enhance Ethereum's scalability

ANALYST_QUICK_TAKE

<div>
 
 <p>Polygon Labs, a provider that focuses on Ethereum layer-2 scaling solutions, is preparing to launch its interoperability protocol, AggLayer, on February 23. The protocol will enhance secure network transitions by using zero-knowledge (zk) proofs.</p>
 <p>The AggLayer allows developers to connect any layer-1 or layer-2 chain, which builds a Web3 network that operates like a single chain with unified liquidity and unlimited scalability. This enables users to purchase non-fungible tokens on different chains without needing to bridge funds, thanks to the use of zk proofs. In addition, it allows for the transfer of assets for participating in activities on other chains.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> AggLayer is part of Polygon 2.0, along with its <a href="https:<br>
//www.theblock.co/post/277036/polygon-evm-validiums-type-1-prover"> type 1 prover </a> , which is expected to be released later in 2024, facilitating EVM-compatible chains in adopting zk proofs. Polygon 2.0 aims to provide uniform security across both modular and monolithic chains, including those within the Polygon ecosystem.</p>

Polygon Labs unveils interoperability protocol 'AggLayer'

<div>
 
 <p>Ethereum-focused layer-2 scaling solutions provider, Polygon Labs, is making a nearly 19% staff reduction amounting to 60 employees. This move is a part of the company's efforts to create a less bureaucratic team to enhance collaboration and potential, according to the CEO, Marc Boiron.</p>
 <p>The affected departments within the company are yet to be revealed. However, the laid off employees have been assured two months' severance pay and health benefits until the end of the current month. Following these changes, the company is also planning to restructure its pay model and offer a 15% increase in total compensation to its remaining staff. </p>
 
</div>

Polygon Labs lay off 19% of workforce to increase efficiency

Bringing the benefits of blockchain to the enterprise

Enterprise Blockchain Solutions

INCUMBENTS_PRESENT

Fox has partnered with Polygon Labs to launch an open-source blockchain protocol called Verify for authenticating media content. Built on the Polygon blockchain, the protocol will combat deepfakes and misinformation by enabling news organisations to cryptographically sign their content, thus helping consumers identify trusted sources. The beta version was launched with the GOP primary debate coverage, authenticating 89,000 news pieces. The solution could also be applied to license content to AI vendors for training GenAI models, offering monetization opportunities for publishers.

Fox partners with Polygon Labs to launch Verify protocol

<div>
  <ul>
    <li>
      <p>Animoca Brands partners with Amazon Web Services (AWS) and Polygon Labs to establish the MoonRealm Express Accelerator.
      The aim is to accelerate the development of Web3 products and solutions on Animoca's Mocaverse project.
      </p>
    </li>
    <li>
      <p>The initiative supports growth in areas such as decentralized identity, social finance, and gaming finance.
      It includes Web3 masterclasses, hackathons, and project incubation.
      </p>
    </li>
    <li>
      <p>AWS provides cloud resources, tech masterclasses, and funding opportunities to start-ups.
      Polygon Labs conducts workshops and offers cash rewards.
      </p>
    </li>
  </ul>
</div>

Animoca Brands, AWS, and Polygon Labs partner to launch MoonRealm Express Accelerator for Web3 development

<div>
 
 <p>NEAR, a layer-1 blockchain network, has partnered with Polygon, an Ethereum layer-2 scaling architecture developer, to create zkWASM, a zero-knowledge (zk) prover for WASM blockchains. The product is expected to fully launch next year.</p>
 <p>This collaboration leverages Polygon's proficiency in zk-scaling technology and NEAR's knowledge of WASM runtime. The objective of zkWASM is to enhance interoperability within the Web3 ecosystem, improve secure bridging between NEAR and Ethereum, and provide WASM chains with access to Ethereum’s liquidity.</p>
 <p>The introduction of this new tool is predicted to revolutionize transactions on WASM chains by making them more efficient, cost-saving, and notably secure.</p>
 
</div>

NEAR and Polygon partner to develop zero-knowledge solution for WASM blockchains

Polygon has released three improvement proposals for its next upgrade aimed at creating a network of interconnected layer-2 chains using zero-knowledge proofs. The first proposal focuses on a smooth transition for developers and users, preserving stability for existing chains. The second proposal suggests introducing a new token called "POL" to replace MATIC for gas and staking, not as a reaction to MATIC's classification as a security. The third proposal outlines the steps to shift from MATIC to POL while maintaining compatibility for existing smart contracts.

Polygon unveils three new proposals for its next upgrade

Polygon has partnered with Astar Network to launch a zero-knowledge EVM-scaling solution. This solution aims to improve interoperability with Ethereum-based chains by providing a scalable software computing environment for Ethereum-based applications. The partnership is expected to attract international entertainment and gaming projects to Japan due to the benefits of lower gas fees, faster transactions, and higher privacy offered by the solution.

All Updates