Citing Odaily, Polymarket, a leading prediction market platform, confirmed its plan to migrate from Polygon and launch its own Ethereum Layer2 network, named POLY. The move is driven by the need for greater stability, customization, and economic control as the platform grows. Polymarket has historically contributed significantly to Polygon's ecosystem, accounting for roughly a quarter of the network's TVL and gas consumption. The migration is also timed with Polymarket's upcoming token generation event (TGE), as the team aims to solidify its governance and economic model before finalizing the transition.
Polymarket to Migrate from Polygon, Launches Own Ethereum Layer2 Network
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Summary
Polymarket is set to migrate from Polygon and launch its own Ethereum Layer2 network, POLY. The platform cited the need for more stability, customization, and economic control. Polymarket has historically driven a quarter of Polygon’s TVL and gas usage. The move aligns with its upcoming token launch and token generation event. The team aims to finalize governance and economic model before the transition. What is POLY? It’s the new network designed to support Polymarket’s growth.
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