According to Blockbeats, Polymarket has confirmed its plan to migrate from Polygon and launch its own Ethereum Layer2 network, named POLY. The move is seen as a strategic shift to enhance product flexibility and economic control. Polymarket, a leading prediction market platform, has historically contributed significantly to Polygon's ecosystem, including 25% of gas consumption and a quarter of the network's total value locked. The decision is likely driven by Polymarket's upcoming token generation event (TGE), as transitioning to a full-stack system could elevate its valuation and expand its economic narrative.
Polymarket Announces Self-Built L2 Network, Exits Polygon
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Summary
Polymarket has confirmed it will exit Polygon and launch its own Ethereum Layer2 network, POLY. The move aims to boost product flexibility and economic control. The platform, known for its prediction markets, previously accounted for 25% of Polygon’s gas usage and TVL. A token launch is expected soon, with the migration likely tied to its token generation event. What is POLY? It’s the foundation for Polymarket’s full-stack strategy, designed to support its growing economic model.
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