Polygon (MATIC) — Onchain News & Whale Tracking

Polygon has proposed PIP-93, which would integrate the Protocol Council and other bodies into a unified Security Committee, implementing an 8/11 multi-signature scheme and a 7-day timelock.

Polygon’s community forum has released draft proposal PIP-93, which proposes integrating the existing Protocol Council, Polygon PoS, and AggLayer multisigs into a unified Polygon Security Council. The security council will comprise 11 signers from 10 institutions, adopting an 8/11 signature policy covering both Ethereum and Polygon. Polygon Labs holds 2 seats, while each of the other participating institutions (including Sherlock, Hexens, Sigma Prime, Curve, QuickSwap, EthCC, L2Beat, Coinbase, etc.) holds 1 seat. For daily upgrades and parameter changes, proposals can be submitted via Polygon Labs Operations multisig with a 7-day timelock; the Security Council may veto such proposals within the window, or skip the timelock to immediately execute or lift contract pauses. The proposal will replace the governance structure set out in PIP-29, and will only disclose the list of seat-holding institutions, no longer revealing individual signer identities. The proposal is currently in Draft status.

Polygon community proposes hard fork to recover around 70.49 million stolen POL tokens

According to the Polygon community forum, the community has submitted a PIP proposal, which plans to conduct a coordinated hard fork to wipe out approximately 70.49 million native POL tokens from compromised attack addresses and transfer them to designated victim recovery addresses, covering stolen funds from two security incidents involving Polymarket and Binance. The proposal notes that between October 29 and 30, Polymarket and Binance successively suffered security breaches, with stolen native POL flowing into Polygon PoS attack addresses. At the request of relevant parties, block validators have added these addresses to the Bor transaction blacklist. Currently, five attacker-controlled addresses hold a total of ~70.49 million POL: ~23.86 million (across 4 addresses) related to Polymarket, and ~46.63 million (1 address) related to Binance. The blacklist only prevents outbound fund transfers, not asset recovery, and attackers are still attempting to bypass it. The proposal requires zeroing the native POL balances of the listed addresses at a fixed block, while crediting verified recovery addresses with an equal amount: Polymarket’s address is 0x3dcE0a2....a6440b4D952, Binance’s is 0xd9fd391....610b80. Total supply remains unchanged, limited only to the native POL in question. Proposed by Polymarket and Binance, the proposal will be presented at the Polygon protocol governance meeting at 14:30 UTC on November 5. If approved, client development and Amoy testing are expected to wrap up in about two weeks. The proposal emphasizes this is an extreme measure and should not serve as a precedent for normal operations.

NFTScan will cease providing NFT data services for Polygon and Solana.

NFTScan announced in a post that due to business adjustments, it will no longer provide NFT data services for Polygon and Solana.

Binance Additionally Restores Withdrawals for Some Assets on Polygon and Avalanche C-Chain

According to Binance's official announcement, the platform has resumed withdrawals of POL, USDT, and USDC on the Polygon network, as well as withdrawals of AVAX, USDT, and USDC on the Avalanche C-Chain.

Polygon expands its stablecoin payment infrastructure to Solana.

Polygon Labs announced it has integrated Solana into its Open Money Stack payment platform, allowing enterprises to complete bank acceptance, cross-chain fund transfers, and payee disbursements via a single integration. The first clients include payment service provider Kira, whose CEO said the firm has already been using Solana to transfer stablecoins, and the Polygon integration will let it convert funds to U.S. dollars and deposit them into clients’ bank accounts for supplier payments. The stack connects Polygon, Ethereum, and TRON, which was integrated earlier this month. The integration comes as Solana completed its Alpenglow consensus upgrade last week, cutting transaction finalization time from around 12.8 seconds to 150 milliseconds. A product lead at the Solana Foundation said the network has processed over $5.5 trillion in stablecoin transaction volume in 2026. Earlier this month, Polygon also completed its acquisition of Coinme, securing money transmission licenses and exemptions covering 48 U.S. states.

Polygon Labs has completed the acquisition of Coinme, bringing its regulated payment services to 48 U.S. states.

Polygon Labs has officially announced the completion of its acquisition of Coinme, with its payment infrastructure Polygon Open Money Stack (OMS) now operating as a U.S.-regulated payment platform. The platform currently covers 48 U.S. states, holds 37 state-level money transmission licenses and 11 exemption qualifications, and is registered as a Money Services Business (MSB) with FinCEN.

Polygon Foundation CEO: 22 million POL tokens are included in the next phase of the burn plan.

Polygon Foundation CEO Sandeep Nailwal announced in a post that the Polygon protocol burned 100 million POL tokens two weeks ago, accounting for roughly 1% of the total token supply, with funds for the burn sourced from network-generated transaction fees. Currently, an additional 22 million POL tokens (about 0.2% of total supply) are set to enter the next phase of token burns. Furthermore, Polygon has not yet fully disclosed the impact of OMS on POL, with related details to be released in the near future. Last week, the annualized trading volume processed by OMS exceeded $1 billion for the second consecutive week.

Polygon Co-Founder Apologizes: Relevant Marketing Content Did Not Insinuate Abstract’s Shutdown

Polygon co-founder Sandeep Nailwal has responded to controversial marketing content that sparked debate: Polygon’s official X (Twitter) account posted a “Polygon is not dead” announcement, which was widely interpreted as a jab at the shutdown of Abstract. He stated the content’s actual effect differed from expectations, leading to entirely misaligned readings. Nailwal added that he was also deeply shocked when he first saw the post that morning in Singapore. Sandeep clarified that the Polygon marketing team intended the line as self-deprecating—for a long time, people have been claiming “Polygon is dead”, while the network’s fundamentals have actually remained strong and improving. The team had no intention of referencing Abstract’s shutdown, he emphasized. “I have immense respect for Abstract founder Luca Netz and his team,” Nailwal said. “We would never do that, as Polygon itself has experienced the pain of terminating its own zkEVM.” He also expressed support for Luca and the Pengu team, calling Luca one of the industry’s top entrepreneurs and noting he will continue to back his team.

Solana Foundation appoints former Binance and Polygon executives to drive institutional adoption and payment services.

Solana Foundation announced two key personnel appointments today. Former Binance executive Rachel Conlan has been named Chief Strategy Officer, while former Polygon Labs executive Jamal Raees will serve as General Manager of Payments. Conlan will oversee institutional partnerships and ecosystem growth strategy; she previously worked at Binance for three years, and held senior management positions at OKX, CAA Sports, and Havas. Raees will collaborate with payment companies, enterprises, and the broader ecosystem to drive the adoption and expansion of Solana as a global payment infrastructure. Solana Foundation President Lily Liu stated: “Solana’s ecosystem is growing in both scale and ambition. We are in the early stages of the token supercycle, where all assets and financial activities will natively migrate to the internet, making markets faster, more accessible, and operational around the clock.” This year, Solana has processed over $5 trillion in stablecoin trading volume, with on-chain real-world assets exceeding $4.5 billion, and tokenized stock supply surpassing $620 million. Liu emphasized: “The question is no longer whether the market will migrate on-chain, but how quickly and to whose infrastructure.”

Polygon’s burning of 100 million POL tokens has now been completed.

Polygon Foundation CEO Sandeep Nailwal announced in a post this morning that the burning of 100 million POL tokens—roughly 1% of POL’s total supply—has been completed. Earlier, Nailwal noted that Polygon’s cumulative base fees have accumulated to 12.1 million POL tokens. He added that POL has been in a deflationary state since January 2026, with network activity continuing to grow and the network scaled to 5,000 TPS.

Polygon’s 100 million POL burn contract is now ready, awaiting community activation.

Polygon Foundation CEO Sandeep Nailwal announced in a post that the smart contract to burn 100 million POL tokens (approximately 1% of the total supply) is ready, and it can be triggered by any member of the community to execute. Going forward, the community will be able to carry out such burns on a quarterly basis. He also noted that POL has remained in a deflationary state so far this year.

Polygon's stablecoin miMATIC remains depegged, trading at a 14% discount to its $1 peg.

According to Blockaid’s monitoring, the stablecoin miMATIC from QiDao Protocol on Polygon remains depegged, currently trading at approximately $0.86, about 14% lower than its $1 peg. Blockaid noted that the depegging situation has continued as of press time.

Polygon will permanently burn 100 million POL tokens, with the relevant contracts already deployed to the testnet.

Polygon co-founder Sandeep Nailwal announced in a post that the Polygon network is now prepared to permanently burn 100 million POL tokens. The relevant contract has been deployed on the testnet, and will launch on the mainnet once the Security Council completes its final signature. The 100 million POL will be permanently removed from circulation, with the community able to trigger quarterly POL burns moving forward. Polygon has currently accumulated 12.1 million POL in base fees. Nailwal noted that POL has been in a deflationary state since January 2026, network activity remains on the rise, and the network has scaled to 5,000 TPS.

Nimiq's swap contract on Polygon was hacked, resulting in approximately $50,400 in losses.

According to monitoring by Defimon Alerts, Nimiq’s swap contract on Polygon was hacked for approximately $50,400 on September 16. The incident stemmed from the contract serving as both OpenGSN’s paymaster and forwarder, with its execute() method failing to verify user signatures. Attackers set up their own relays, forged open() requests from liquidity wallets, exploited pre-image hash locks to open HTLCs and immediately redeemed funds, then transferred the targeted wallet’s USDC, USDT0, and USDC.e tokens. Nimiq had previously suspended Gas Abstraction stablecoin transactions and was investigating related issues.

Polygon discloses vulnerability details: multiple undisclosed security vulnerabilities have been patched.

Polygon has disclosed multiple previously unreported security vulnerabilities fixed via two recent hard forks—Austin and Kyoto—that could impact its Proof-of-Stake network. The flaws involve Polygon’s Bor and Heimdall clients, including denial-of-service (DoS) risks, validator resource exhaustion, and defects affecting checkpoint and milestone processing. Polygon said the fixes were completed in private testing before being deployed to the mainnet and publicly revealed. The most severe issue relates to Heimdall: a carefully crafted transaction could force validators to perform excessive processing, disrupting the network. The Austin hard fork also fixed two DoS risks in Bor, which could slow block processing or cause node crashes. Polygon noted that these vulnerabilities were not exploited on the mainnet, and the repairs were completed proactively before details of the flaws were made public.

Polygon discloses multiple security vulnerabilities in its PoS network, which have been fixed through two hard forks.

Polygon has disclosed multiple security vulnerabilities affecting its Proof-of-Stake (PoS) network, targeting the Bor and Heimdall clients, which could lead to denial-of-service (DoS) attacks, validator resource exhaustion, and abnormal checkpoint and milestone processing. Fixes for these flaws have been deployed to the mainnet via the recently completed Austin and Kyoto hard forks. The most critical vulnerability resides in Heimdall, where attackers can craft special transactions to force validators to execute an excessive number of processing tasks, thereby disrupting network operations. The Austin hard fork also patched two DoS risks in Bor, which could have resulted in reduced block processing speeds or node crashes. Polygon noted that no exploitation of these vulnerabilities has been detected on the mainnet, and the team proactively completed the fixes before publicly disclosing technical details. All Polygon PoS nodes must run Bor v2.10.0, while validators and full nodes also need to upgrade to Heimdall v0.11.0; nodes still running older versions have fallen out of consensus and must update to rejoin the mainnet.

Polygon PoS nodes have lost consensus, prompting Polygon Labs to issue an emergency client upgrade advisory.

Polygon Labs has issued an emergency notice, stating that Polygon PoS nodes still running older versions of Bor or Heimdall have fallen out of consensus after the activation of the Austin and Kyoto hard forks, requiring client upgrades to catch up with network progress. Austin was activated at mainnet block 91,949,700, with nodes required to run Bor v2.10.0 or above; Kyoto was activated at block height 51,533,000, requiring nodes to run Heimdall v0.11.0 or higher. The announcement adds that Austin fixed two types of Bor resource exhaustion risks: L1-to-L2 bridge state synchronization events were not included in gas limits, which could slow block processing; and the TxDependency field lacks size restrictions, potentially causing peer nodes to crash.

Polygon PoS nodes lose consensus; Polygon Labs issues urgent client upgrade notice.

Polygon Labs has issued an urgent notice stating that following the activation of the Austin and Kyoto hard forks, Polygon PoS nodes still running older versions of Bor or Heimdall have fallen out of consensus and must upgrade their clients to catch up with network progress. Austin was activated at mainnet block 91,949,700, requiring nodes to run Bor v2.10.0 or higher; Kyoto was activated at block height 51,533,000, requiring nodes to run Heimdall v0.11.0 or higher. Austin fixes two Bor resource exhaustion risks: L1-to-L2 bridge state synchronization events were not accounted for in the gas limit, which could slow block processing; the TxDependency field lacks a size limit, potentially causing peer nodes to crash.

Binance will support the Polygon (POL) network upgrade and hard fork on July 29.

According to an official announcement, Binance will support the network upgrade and hard fork of Polygon (POL). Binance is scheduled to suspend POL network token deposits and withdrawals at 21:00 (UTC+8) on July 29, 2026. The Polygon core team plans to carry out the network upgrade and hard fork at block height 50,185,000, which is expected to occur at 22:00 Beijing time on July 29. After the upgrade is completed and the network stabilizes, Binance will resume the relevant deposit and withdrawal services, with the specific resumption time to be announced separately.

Polygon Labs’ acquisition of Coinme is in its final stages, and the company has initiated layoffs.

Polygon Labs CEO Marc Boiron announced in a post that the firm’s acquisition of Coinme is in its final stages. Once the deal closes, the Coinme team will be integrated into Polygon Labs. This integration is part of a broader merger plan targeting profitability for Polygon Labs by 2027. As part of the ongoing integration, Polygon Labs cut multiple employees today. Boiron stated the company is transitioning from a blockchain foundation to a blockchain payments company, explaining that the two organizational models require distinct structures and talent setups, and the adjustment is driven by the company’s strategic direction shift—not related to the work quality of departing staff. He added that Polygon Labs currently boasts strong revenue performance, with stablecoin trading volumes hitting new highs consistently, client reserves exceeding expectations, and on-chain payment solutions having launched rapidly. The company will provide severance compensation and related support to affected employees.

Polygon CEO: Team builds 13 projects in three days using AI, six of which are already live.

Polygon Foundation CEO Sandeep posted a statement saying, “Approximately one-third of Polygon’s teams paused their regular work last week. We had them set aside their ongoing tasks temporarily to leverage AI for building truly valuable solutions, and allocated $15,000 in incentives to develop projects that can effectively drive business growth. Just three days later, we received 13 projects, six of which have officially launched, and one has already started processing real transactions on the mainnets of five public blockchains. Teams that do not carry out similar internal AI practices will soon fall behind those that do. Especially in the payments sector, the competitive edge over the next decade will belong to companies that truly integrate AI into their employees’ daily workflows. It can now be said that mastering AI capabilities is no longer an optional choice.”

PayPal USD officially launches on the Polygon network.

Paxos has announced that PayPal USD (PYUSD) is now officially native-issued on the Polygon blockchain, and is being offered to the market via Polygon’s Open Money Stack. The move aims to provide institutions and enterprises with a federally regulated on-chain USD settlement solution, covering deposit, withdrawal and compliance functions. The Polygon blockchain currently records an average daily stablecoin settlement volume of over $2.5 billion, with a total cumulative settlement volume exceeding $2.6 trillion. PYUSD is issued by Paxos, a national trust chartered institution regulated by the U.S. Office of the Comptroller of the Currency (OCC).

ZachXBT: Polymarket UMA CTF Adapter Contract on the Polygon Network Reportedly Hacked, Loss Exceeds $520,000

On May 22, on-chain sleuth ZachXBT posted in his personal channel that Polymarket’s UMA CTF Adapter contract was reportedly exploited on the Polygon network, with losses exceeding $520,000 as of press time.

Visa to Include Polygon in Global Stablecoin Settlement Program, with an Annualized Settlement Volume of $7 Billion

April 29: Visa announced it has officially integrated Polygon into its Global Stablecoin Settlement Program. Issuing and acquiring banks partnering with Visa can now settle transactions via the Polygon network. Polygon claims it’s the world’s largest USD stablecoin payment network, citing data from Allium and Dune: - 34% of USD stablecoin transfers occur on Polygon—more than twice BNB Chain’s share - 54% of USDC transfers are on Polygon, beating the total of all other chains combined - 36% of global USDC transactions take place on Polygon - Polygon has roughly 3.19 million weekly active stablecoin users - On-chain stablecoin supply hit a record $36.2 billion - 178.1 million USD stablecoin transactions were recorded in March Visa added its stablecoin settlement program’s annualized transaction volume reached $7 billion this quarter—up 50% from three months ago. Polygon emphasized its network offers sub-cent fees, ~4-second transaction finality, and has been used for re

Polygon: Ecosystem Unaffected by rsETH Exploit Event

On April 20, Polygon officials noted that they’ve been closely monitoring the rsETH exploit. Neither the Polygon Chain, Aggregator Layer, nor the broader ecosystem—including Katana and Vaultbridge—was affected by the incident. Polygon has facilitated over $2 trillion in secure transfers to date and will continue to closely monitor developments.

Polygon Mainnet will undergo the Giugliano upgrade on April 8th, and nodes need to upgrade as soon as possible

Per an official announcement from the Polygon Foundation on April 7th, the Giugliano hard fork upgrade is set to go live around 22:00 Beijing Time on April 8th at Polygon mainnet block height 85,268,500. The upgrade will deliver these key improvements: - Enable block producers to pre-announce blocks for faster finality; - Add fee parameters directly to block headers; - Introduce new RPC interfaces to support fee data. The foundation’s official reminder notes all node operators **must** upgrade Bor to version 2.7.0 or Erigon to version 3.5.0 to keep their nodes running normally.

OKX will support the Polygon, Kaia, and Flare Network upgrades

April 3rd — According to official sources, OKX will support network upgrades for Polygon, Kaia, and Flare. To ensure a smooth upgrade process, the platform will suspend: - Kaia network deposits/withdrawals starting at 08:30 UTC+8 on April 7, 2026; - Polygon network deposits/withdrawals starting at 21:30 UTC+8 on April 8, 2026; - Flare network deposits/withdrawals starting at 19:30 UTC+8 on April 14, 2026. Please avoid making deposit or withdrawal transactions for the affected tokens during the upgrades to prevent fund losses. Once the upgrades are completed and running stably, deposit/withdrawal services will resume without further notice. Trading of the affected tokens will not be disrupted during the upgrades, but note market volatility risks.

Polygon Launches Private Memory Pool to Provide MEV Protection

April 2, Polygon unveiled a Private Mempool—a private gateway for submitting transactions that shields individual transactions from front-running and sandwich attacks. Users just need to swap their RPC endpoint for the corresponding private entrypoint to use this feature; no additional steps are required.

Binance will support the Polygon (MATIC) network upgrade and hard fork, with deposits and withdrawals suspended on March 4th.

On March 3, Binance announced it will support the Polygon (POL) network upgrade and hard fork. Per the schedule, Binance will suspend deposits and withdrawals for Polygon network tokens starting at 13:00 UTC on March 4, 2026, to facilitate the upgrade and ensure a smooth user experience. The network upgrade and hard fork are expected to occur at block height 83,756,500—around 14:00 UTC on the same date. The announcement notes trading of related Polygon network tokens will not be affected, and the platform will address all technical issues for users during the upgrade. Once the upgraded network is deemed stable, deposit and withdrawal services will resume automatically; no further notice will be issued.

JP Morgan is Hiring a Blockchain and Tokenization Engineer, Involving Blockchains Such as Ethereum, Polygon, etc.

February 15 — JPMorgan Chase is recruiting a Software Engineer for its Blockchain and Tokenization Team. Key responsibilities include: - Developing the engineering roadmap for blockchain infrastructure, tokenization platforms, and digital asset services - Evaluating and integrating blockchain protocols (Ethereum, Polygon, Hyperledger, Canton, and more) aligned with product requirements - Participating in the design, architecture, and implementation of blockchain-based solutions to ensure security, scalability, and compliance with applicable regulations

Polygon Layoffs Nearly 30%, Shifts Focus to "Payments First" Strategy

Jan. 16 (BeInCrypto) — Polygon has conducted a large-scale internal layoff, with multiple sources familiar with the matter reporting roughly 30% of its staff were cut this week. This isn’t the blockchain firm’s first major workforce reduction: It laid off nearly 20% of its employees back in 2024. The timing of the layoffs aligns with Polygon’s recent restructuring announcement. Earlier this month, Polygon Labs said it’s reorganizing its team around a new “payment-first” strategy — a notable shift from its prior focus on scaling and DeFi narratives. The transformation follows Polygon’s spree of over $250 million in acquisitions, including Coinme (a U.S.-compliant fiat onramp for crypto) and Sequence (a wallet and cross-chain payment infrastructure provider).

Polygon Makes Splashy $250M+ Acquisition of Two Crypto Startups, Taking Aim at Stripe-Like Stablecoin Vision

January 13: Polygon Labs announced it has completed the acquisition of two crypto startups—Coinme and Sequence—with a total transaction value exceeding $250 million. The company did not disclose individual amounts for each deal or specify if payment was made in cash, stock, or a mix. Polygon Labs CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal noted the acquisition is a key part of Polygon’s stablecoin and payment strategy, aimed at boosting its presence in the payment infrastructure space. Seattle-based Coinme specializes in cash-to-crypto exchange services, runs a U.S. cryptocurrency ATM network, and holds multiple state-level money transmitter licenses. New York-based Sequence offers blockchain infrastructure services, including crypto wallets and other tools. Nailwal bluntly stated the move positions Polygon Labs to directly compete with Stripe. Over the past year, Stripe has acquired stablecoin startups and crypto wallet firms, launched its own blockchain f

Polygon team's associated addresses have transferred a total of 20 million POL, worth approximately $3.5 million

January 11th: Per Arkham data, an address linked to the Polygon team transferred 20 million POL total to Binance and GSR Markets addresses over the past 20 minutes, with the transfer valued at nearly $3.5 million.

Polygon Nears Deal to Acquire Bitcoin ATM Operator Coinme, Transaction Value Could Reach $125 Million

**Polygon Nears Deal to Acquire U.S. Bitcoin ATM Operator Coinme for $1B-$1.25B** Polygon is close to acquiring Coinme, a U.S. Bitcoin ATM operator, with a deal value pegged between $1 billion and $1.25 billion, sources familiar with the matter said on January 9. The transaction remains in a confidential stage. The acquisition is advised by investment bank Architect Partners. Coinme—one of the earliest Bitcoin ATM operators in the U.S.—rolled out its first compliant Bitcoin kiosk in May 2014. It now operates across roughly 49 U.S. states, supporting major cryptocurrencies at offline locations like supermarkets. Polygon closed a $450 million funding round in 2023, led by Sequoia Capital India. The potential deal is viewed as a key move for the firm to expand into crypto payments and offline access points.

Source: Polymarket is planning to launch its own L2 solution and migrate from Polygon

December 22 — Sources report @polymarketbet has summarized key takeaways from Polymarket team member Mustafa’s recent update in the project’s Discord community, as follows: 1. Polymarket intends to leave Polygon and launch its own Ethereum Layer 2 solution, POLY. The rollout of POLY is a "top priority." (Polymarket’s operations were disrupted by Polygon’s December 18 outage.) 2. Polymarket plans to cut ties with all third-party vendors (including GoldSky, Alchemy, etc.). "These providers are all way too problematic — we’ll be migrating away ASAP." 3. This week, Polymarket will launch 5-minute markets.

Polygon Labs Strategic Investment by Crypto Media Outlet Boys Club

On December 17, Polygon Labs announced a strategic investment in Boys Club—a crypto culture media and creative agency—aimed at driving Polygon’s mainstream adoption in payments, stablecoins, and everyday financial scenarios through more culturally engaging content narratives. Founded in 2021, Boys Club is known for translating complex technology into humanized, humorous, and culturally resonant storytelling. It has built a broad community via newsletters, podcasts, and events, and has collaborated with partners including Coinbase, Sotheby’s, and a16z. The investment will not impact Boys Club’s editorial and creative independence; the agency will continue working with ecosystems like Base, Solana, and Aptos. Both parties plan to collaborate on event planning, narrative development for payments and stablecoin use cases, and social content strategy—all to strengthen the link between Polygon’s technology and real-world scenarios.

South Korean custodian Bidex has expanded the Korean won stablecoin KRW1 to the Polygon blockchain.

December 4th — South Korean digital asset custody firm Bidex has expanded distribution of its Korean won-collateralized stablecoin KRW1 to the Polygon blockchain, per News1. Previously, Bidex had announced plans to issue KRW1 on Circle’s Ark blockchain. The addition of Polygon comes as the network offers high transaction throughput and low fees. KRW1 is backed by Korean won deposits held in domestic Korean bank accounts, with collateral funds sourced directly from those accounts.

Polygon CEO: Considering Reverting the POL Token Code back to MATIC

On November 26th, Polygon CEO Sandeep made a post on the X platform. He said that due to community feedback indicating that the MATIC token ticker is more recognizable than POL, there is a discussion about whether to request exchanges to change the token ticker back from POL to MATIC. Sandeep mentioned that he personally prefers to keep the current situation and continue using POL. However, the feedback received shows that project decisions should not be based solely on the views of the Crypto Twitter (CT) community, as this community accounts for less than 5% of the total cryptocurrency trading population. He stated that he hopes to understand the opinions of a broader community of users, but there is no guarantee that exchanges will agree to this change.

Binance will support the Polygon (MATIC) network upgrade and hard fork

November 21st. According to an official announcement, Binance is anticipated to halt the token deposit and withdrawal services of the Polygon (POL) network at 17:00 (UTC+8) on December 9, 2025, in order to support its network upgrade and hard fork. The project team will upgrade the network and carry out a hard fork at block height 80,084,800 (expected to be at 18:00 UTC+8 on December 9, 2025).

The fully collateralized stablecoin ARC, developed in collaboration between Polygon and Anq, is scheduled to undergo a test run in the first quarter of 2026.

On November 20th, according to a report by CoinDesk, sources disclosed that the fully-backed stablecoin ARC, which is jointly developed by Polygon and the Indian fintech company Anq, is scheduled to undergo a pilot run in the first quarter of 2026. Each ARC token will be pegged at a 1:1 ratio to the Indian Rupee and can only be minted when the issuer receives cash or cash equivalents (such as term deposits, government securities, or cash balances).

Revolut has integrated Polygon as a primary cryptocurrency payment infrastructure

On November 19th, Polygon Labs disclosed that digital bank Revolut has incorporated Polygon as its primary blockchain infrastructure for stablecoin transfers, payments, and transactions. By November 2025, Revolut users had processed a transaction volume of over $6.9 billion through Polygon. Revolut has more than 65 million users in 38 countries, among which there are 14 million cryptocurrency users. Through this integration, users can send and receive USDC and USDT stablecoins on the Revolut app by using the Polygon network. They can enjoy zero-fee remittance services and directly trade and stake the POL token.

Mastercard Partners with Polygon to Build New Cryptocurrency Transfer System

On November 18th, as per Coindesk, Mastercard has selected Polygon to establish a new encrypted transfer system. This system enables cryptocurrency transfers by using a readable username rather than complex wallet addresses. According to a press release from Mastercard, its "Cryptographic Proof" technology has standardized blockchain address verification. It achieves this by creating human-readable aliases for verified users. The encrypted payment API company Mercuryo will be in charge of identity verification and alias issuance, allowing users to bind these aliases to their self-hosted wallets. This model emulates the operation logic of applications that utilize usernames instead of bank account information for transfers. In such applications, the system assigns a unique name that can be linked to a wallet for users. Users can also apply to generate credential tokens on Polygon, indicating support for wallet verification during transfers and assisting applications in completing cred

The world's largest fund network, Calastone, has integrated with Polygon, enabling on-chain distribution of tokenized fund shares.

On November 13th, Calastone, which is the world's largest fund network, officially integrated with Polygon to carry out on-chain distribution of its Tokenized Fund Share Classes. Asset managers are now able to directly issue and transfer fund shares on-chain through Polygon.
Before this, the system was already in operation on Ethereum, Polygon, and Canton. This update indicates that Calastone's global client network can now actively participate in on-chain distribution operations via Polygon. (The Block)

Binance will stop supporting QUICKOLD deposits via the Ethereum and Polygon networks today.

On November 11th, according to an official announcement, Binance will cease to support the deposit of QuickSwap OLD (QUICKOLD) via the Ethereum and Polygon networks starting from today.

Vitalik's Post Appreciating Sandeep and Polygon's Contribution to the Ethereum Ecosystem

On October 21st, Vitalik Buterin published an article on the X platform, highly praising Polygon and its co-founder Sandeep Nailwal. He stated that they have played a crucial role in the Ethereum ecosystem. Vitalik mentioned that Polygon made early and significant investments in ZK-EVM research and development, drove the technical implementation of the Jordi team, and built infrastructure such as AggLayer. He also commended Sandeep for his contribution to public health in India through the CryptoRelief project and his voluntary return of $190 million in SHIB donations, enabling the Balvi open-source pandemic response project to move forward. Vitalik expressed the hope that Polygon would directly adopt mature ZK technology in the future to provide complete security for its PoS chain. Previously, Polygon CEO Sandeep Nailwal responded to Ethereum core developer Péter Szilágyi's open letter and bluntly stated that he had begun to "doubt his loyalty to Ethereum." He mentioned that Polygon

Bhutan is in the process of migrating its National Identity System from Polygon to Ethereum

On October 14th, as reported by Cointelegraph, Bhutan is in the midst of migrating its self-sovereign identity system from Polygon to Ethereum. This enables nearly 800,000 residents to verify their identities and gain access to government services. The integration with Ethereum has been successfully completed, and it is anticipated that the migration of all resident credentials will be finished in the first quarter of 2026. The Chairperson of the Ethereum Foundation, Aya Miyaguchi, attended the launch ceremony along with Ethereum's co-founder Vitalik Buterin, Bhutan's Prime Minister Tshering Tobgay, and Crown Prince Jigme Namgyel Wangchuk. Miyaguchi stated that this is the world's first national-level Ethereum identity system integration case. Prior to this, Bhutan had been operating its national identity system on Polygon since August 2024, with Hyperledger Indy being used previously.

Binance Will Support Polygon (MATIC) Network Upgrade and Hard Fork

On October 3rd, according to an official announcement, Binance is anticipated to halt the deposit and withdrawal of Polygon (MATIC) network tokens at 21:12 (UTC+8) on October 8th, 2025 in order to support its network upgrade and hard fork.

Polygon Labs Appoints Former Stripe Crypto Lead as Chief Product Officer

On September 15th, as per Fortune, John Egan, who previously served as the crypto lead at Stripe, announced his joining of Polygon Labs as the Chief Product Officer. His focus will be on enhancing the payment experience within the Polygon ecosystem. Egan had previously led Stripe's acquisitions of the stablecoin company Bridge ($1.1 billion) and the crypto wallet company Privy, and had driven the development of the in-house blockchain Tempo. In July, the circulation of Polygon's stablecoin reached $29 billion, with more than 4.5 million active addresses, outperforming Ethereum during the same period. Egan expressed optimism regarding Polygon's application in the stablecoin micro-payment field.

Yala Hacker mints 120 million YU on the Polygon network, has swapped 7.71 million YU obtained from sales for 1,501 ETH

September 14th. According to LookOnChain's monitoring, 14 hours ago, the Yala hacker minted 1.2 billion YU on Polygon. Subsequently, the hacker sold 7.71 million YU through cross-chain transfers on Ethereum and Solana, obtaining 7.7 million USDC. Currently, the hacker still holds 22.29 million YU on Solana and Ethereum. Additionally, 90 million YU remains on Polygon and is awaiting cross-chain transfers. The hacker has exchanged 7.7 million USDC for 1501 ETH and transferred them to multiple wallets.

Polygon Labs has partnered with investment firm Cypher Capital to expand institutional access to POL in the Middle East region.

September 12th. The core development team of the Polygon ecosystem, Polygon Labs, announced a partnership with the investment firm Cypher Capital. This partnership aims to expand institutional investors' access to the Polygon native token POL. Cypher Capital has recently acquired a significant amount of POL holdings and will collaborate with Polygon Labs to develop structured strategies. These strategies will enable institutional investors to access investment opportunities, generate returns, and enhance the growth and security of the network.