What are polymers? Layer 2 connection protocol on Ethereum
February 18th, 2024

Recently, Polymer Labs announced that it had successfully raised $23 million in capital with the participation of big names in the crypto market for the development and construction of Polymer's infrastructure. So what is Polymer? What makes this platform stand out?

What are polymers?

Polymer is a Layer 2 (L2) solution developed by Polymer Labs, with the goal of becoming an interoperability hub on Ethereum through the ability to connect L2s in the ecosystem, using a cross-chain communication protocol. Inter-Blockchain Communication Protocol (IBC) by Cosmos.

In addition, Polymer also combines the OP Stack toolkit and EigenLayer 's Data Availability service to provide a safe and secure interaction solution for users.

Polymer homepage:

Users can access the Polymer homepage at: https://www.polymerlabs.org 

Highlights of Polymers Compared to many other projects on the market, Polymer combines the use of 3 technology solutions to bring the following highlights:

Interoperability : Polymer uses the Cosmos IBC protocol, allowing L2 solutions on Ethereum to interact and exchange information with each other seamlessly. This allows Ethereum to process more transactions without sacrificing performance. Scalability : Polymer focuses on achieving the scalability of decentralized applications ( dApps ) built on Polymer using the OP Stack toolkit. Compared to the Ethereum mainnet, OP Stack has a higher transaction processing capacity but at a lower cost, thereby saving costs and improving the scalability of the network. Security capabilities : Using EigenLayer's Data Availability, system data is stored on a separate network, minimizing the risks of data loss that can occur due to incidents on Ethereum. What is Polymer Token? The project has not announced detailed information about the token, Coin98 Insights will update as soon as there is an announcement.

Team and Investors Project team Polymer was developed by technicians with many years in the technology field, Web3 , some prominent members such as:

Bo Du : Technical Staff, used to be an infrastructure engineer at Uber and Capsule8. Peter Kim : Operational Staff, used to work in the strategic consulting department for Ernst & Young. Wenwei Xiong : Technical Staff, used to provide database platform at Paradigm 4 for leading pharmaceutical companies, with the purpose of identifying biomarkers for diseases, including COVID-19. And many other members come from many parts of the world.

Polymers are developed by many members around the world
Polymers are developed by many members around the world

Investors

On January 23, 2024, Polymer Labs announced that it had successfully raised 23 million USD for Polymer with the leadership of many big names in the crypto market to serve the development process of the protocol, such as: Blockchain Capital, Distributed Global, Maven11, North Island Ventures, Coinbase Ventures, Placeholder, Wintermute, Signum Capital, Digital Currency Group.

Polymer has gone through 2 rounds of funding, the latest round was revealed to be up to 23 million USD.

Previously, Polymer also successfully raised capital of 3.6 million USD in the Seed round that took place 2 years ago.

https://cryptorank.io/ico/polymer-labs#funding-rounds
https://cryptorank.io/ico/polymer-labs#funding-rounds

Official links of the project

Website: https://www.polymerlabs.org/

X/Twitter: https://twitter.com/Polymer_Labs

Youtube: https://www.youtube.com/channel/UCwP64-bd6C9RrQvPhqPKQ0g

Developer Hub: https://docs.polymerlabs.org/

Forum: http://forum.polymerlabs.org/

Github: https://github.com/polymerdao

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