By acquiring Mir, the Polygon project continues its ambitious policy of developing and improving the Ethereum network. An operation of nearly $ 500 million that is part of a broader investment policy of nearly $ 1 billion to develop second-layer solutions.
Polygon, an Ethereum blockchain scaling solution, continues its buyback policy. With a program guided by the ambition to improve the conditions of the Ethereum network. And for this, the Polygon project leaders wish to test as many alternatives as possible.
Polygon Buys Mir For 500 Million Dollars
Polygon buys Mir for 500 million dollarsAfter merging with the ZK Rollup Hermez project last August for $ 250 million, Polygon continues its buyout policy by taking control of Mir. An announcement made today on the occasion of the ZK Days event.
The Mir platform uses a “ zero knowledge proof ” (ZK Proof) protocol . A protocol that helps strengthen confidentiality on a blockchain. Indeed, the ZK Proof makes it possible in particular to verify a transaction on the blockchain by anonymizing the details of the operation. While confidentiality is improved through ZK Proof, publishing less data not only speeds up the execution of operations but also reduces gas costs for each operation. ZK technology also makes it possible to consolidate and merge several transactions into one. Via Mir, it is then possible to set up decentralized applications away from the Ethereum network.
Thus, Mir will be integrated into the Polygon ecosystem under the name Polygon Zero. Polygon's takeover of Mir is part of a larger strategy to improve Ethereum. A strategy that should see Polygon invest more than a billion dollars. The integration of Mir into the Polygon ecosystem has meanwhile been valued at some $ 500 million. The contract concluded takes the form of a payment of 190 million MATIC tokens and $ 100 million paid in USDC stablecoins. Or 500 million at the current price of the MATIC token.
What Impact On The MATIC Token Price?
The impact of the announcement remains relatively low for the time being. In a bear market context (-2.75% over the last 24 hours), the MATIC token shows a regression in almost equivalent proportions: -2.53%.
But the token has appreciated in recent days following the announcement of a partnership with Wanchain. A partnership that should “promote the adoption of layer 2 inter-chain bridges and accelerate the development of interoperable blockchain technology as a whole”. A partnership also concluded with the primary objective of reducing congestion on the Ethereum network and allowing faster and less expensive transactions.
At the time of writing, the MATIC token is trading for $ 2.15. The project appears as the fourteenth in the ranking in terms of marketcap. With a valuation of over $ 15 billion. Over the last 15 days, the token has experienced strong growth: more than 40%. If we take the last 3 months as a benchmark, the increase is even greater and rather of the order of 60%. It is clear that Polygon's development policy is particularly appreciated by investors.
Polygon Is Set For 2022
With this new strategic partnership, the Polygon project continues its express deployment. Over the year 2021, the unit price of the token went from $ 0.02 to more than $ 2. The project even had its ATH last May with a unit price of the token at 2.68 dollars. In terms of marketcap, the progress has also been meteoric. Polygon has just gone from $ 85 million to nearly $ 15 billion in the space of 11 months.
If it seems impossible to see a progression as strong in 2022 as in 2021, the followers of Polygon hope that the project can continue to surf its beautiful year 2021. If we are to believe the prediction algorithms, Polygon could approach the bar of 4 dollars by the end of the year 2022. An opinion shared by the platforms DigitalCoinPrice and WalletInvestor.
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