Polynomial will cease operations, with plans to restart the project in the future
BlockBeats News, February 15th, the DeFi derivatives protocol Polynomial announced in a post that the on-chain derivatives market has grown 100 times in recent years. While its core strategic direction was deemed correct, the execution fell short of expectations, leading the team to decide to gradually shut down its current operations.
Polynomial stated that the platform has accumulated data from 27 million transactions, has systematically identified product moats and key competitive factors, and will prioritize building long-term barriers to entry in the next phase. The team emphasized user fund security and will follow a standardized process to complete the shutdown.
At the same time, Polynomial stated that it will not give up on its mission to "achieve the large-scale implementation of on-chain derivatives" and will relaunch the project with the same team in the future, optimize the execution path, and provide existing users with priority participation rights.
BlockBeats previously reported that on May 11, 2023, Polynomial Protocol announced the completion of a seed round of financing. The specific amount of financing was not disclosed. Road Capital, Caballeros Capital, Archetype, as well as individuals investors such as Kain Warwick from Synthetix, Jordan from Synthetix, Scott Sunarto from eGirl Capital, Eden Au from The Block, Mike from Lyra, and Pranav from Graph participated in the investment.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Major Altcoin Cleanup: 18 Cryptocurrencies Delisted from South Korean Exchanges

Synthetix releases the 2026 roadmap, focusing on six major directions including stock buybacks and multi-collateral trading

The decentralized derivatives protocol Synthetix has officially launched its perpetual contract DEX on the Ethereum mainnet.

Synthetix is set to return to the Ethereum mainnet on December 17th, with SLP launching simultaneously.
Base Protocol Coin Launch, Is It Reliable This Time?

'Barotune' Provides AI Interpretation at CMAAO Seoul Conference with Real-Time Subtitles for Technical Terms

Ethereum to Allow Gas Fee Payments Without Holding ETH, Considered for 2027 Upgrade

Bankless Latest Podcast: How to Find Undervalued Tokens from VVV to Hyperliquid?

Is the Current Pullback a Buying Opportunity as Long as We Are Not in a Rate Hike Cycle?

Philippine Central Bank to Suspend New Registrations for Payment Service Providers for 12 Months, Considering Enhanced Supervision of VASPs

Fixed Term: Which Bank Offers the Most for Investing $500,000

Banks Accelerate for Labor Assistance Funds: Offering Strong Benefits to Attract Compensation Funds

From NYU Teaching Assistant to White House Spotlight: Chainlink Founder Took No Shortcuts

The Little-Known European Destination Where You Can Save Over $20,000 in 10 Months

OpenAI just showed why one of its former researchers thinks AI could kill everyone

AI Detects Bottlenecks That Could Accelerate Linux Builds by Up to 70%

Semaglutide Prolonged the Lifespan of Aged Female Mice by 12%, According to a Study

Computer failure in UK air traffic affects over 2,000 flights

CLARITY Act: Ripple CLO urges Senate to hear crypto holders

Solana’s 300ms speed boost to outrun trading bots might come with a hidden cost

Blockchain Speed Is No Longer the Main Criterion for Blockchain Quality, According to Andreessen Horowitz

Mastercard launches Agent Connect for AI shopping

Concerns for the Industry: The Accumulated Data for 2026 is Already 12% Below the Same Period in 2023

It looks like a stock and trades like a stock, but it isn’t actually a stock – what is it?

Changelly review 2026: fees, limits, KYC and exchange rates

Economic Activity Declines as Market Doubts Grow About Government's Path to Election Year

Residency in Paraguay: the hidden cost of the new exit door for Brazilians

iOS 27 to Launch on September 14 with AI-Powered Siri

Trump Proposes Excluding Undocumented Immigrants from the 2030 Census





