Based on PANews, Polymarket has confirmed its plan to migrate from Polygon and launch its own Ethereum Layer 2 network, named POLY. The move is seen as a strategic shift to enhance product flexibility and economic control. Polymarket, a leading prediction market, has historically contributed significantly to Polygon's ecosystem, including 25% of TVL and gas consumption. The migration is likely timed with Polymarket's upcoming token generation event (TGE), aiming to solidify its full-stack positioning and expand its valuation narrative.
Polymarket to Migrate from Polygon, Launches Ethereum L2 Network
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Summary
Polymarket is set to migrate from Polygon and launch its own Ethereum Layer 2 network, POLY. The move aims to boost product flexibility and economic control. Users may ask, what is POLY? It is a custom-built L2 solution for the prediction market platform. Polymarket has historically driven 25% of Polygon’s TVL and gas usage. The migration aligns with the project’s token launch and token generation event, supporting its full-stack strategy.
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