Polygon Miden announces a$35million grant initiative to supportinnovation,focusing on projects that enhance DeFitrading,reduce statestorage,and ensure efficient and scalable blockchainoperations.
Points
- PolygonMidenlaunchesa$35milliongrantinitiative.
- TheinitiativeaimstosupportprojectsenhancingDeFitradingandreducingstatestorage.
- ComposabilityLabsdevelopsSpark,anon-chainCLOB,utilizingPolygonMiden’sfeatures.
- ThezkEVMroll-uptechnologyensuresefficientandscalableblockchainoperations.
- Sparkoffersadvancedordertypesandenhancedtradingefficiency.
Polygon Miden has launched a$35million grant initiative to propel innovation in the blockchainspace.The initiative aims to support projects that enhance decentralized finance（DeFi）trading and reduce statestorage,ensuring efficient and scalable blockchainoperations.
ComposabilityLabs andSpark
Composability Labs is developingSpark,anon-chaincentral limit order book（CLOB）that minimizes state storage and enhances DeFi trading on PolygonMiden.Spark leverages PolygonMiden’sstate minimization features to create a highly efficienton-chainCLOB designed for spot and perpetualexchanges.The unique account and note architecture of Polygon Miden facilitates trading efficiency andtransparency.
“Pioneer@compolabsis building a superfaston-chainCLOB with astate-minimizedapproach on PolygonMiden,“tweeted Polygon|Aggregated.
“WithMiden,Composability Labs reimagines blockchain design by baking in stateminimization,making DeFi better with@Sprkfiorderbooks,“Polygonadded.
zkEVMRoll-upTechnology
Polygon Miden utilizeszero-knowledgeproofs to reduce statebloat,ensuring efficient and scalable blockchainoperations.The zkEVMroll-uptechnology enables block creation and authentication without storing the entirestate.Users can storedata,with the rollup keeping track of verifiablecommitments.When auser’sstatechanges,azero-knowledgeproof validates thetransformation,maintaining efficiency andscalability.
KeyBenefits ofSpark
- On-ChainExecution:Ensuresgreatertransparencyandsecuritycomparedtooff-chainsolutions.
- AdvancedOrderTypes:Supportsawiderangeofordertypesandprovidesatransparentviewofmarketdepthandliquidity.
- EnhancedTradingEfficiency:ReducescriticalimplementationissuesinDeFi,enhancingtheoveralltradingexperience.
Spark’son-chainexecution model mitigates thetrade-offsassociated withoff-chainorderbooks,such as reduced transparency and potential securityrisks.By incorporating standard practices for trading strategies andalgorithms,Spark supports efficient and effective tradingoperations.
Enhancingthe Ethereum DeFiLandscape
Polygon Miden combines elements from both Bitcoin andEthereum,offering a unique blockchainexperience.It uses the concept of Bitcoin UTXOs（unspenttransactionoutputs）and enhances them with customizablelogic,known asNotes.These Notes function like cryptographiccashier’schecks with attachedlogic,enabling conditionaltransactions.
解説
- PolygonMiden’s$35milliongrantinitiativeaimstosupportinnovation,particularlyinDeFitradingandstateminimization.
- ComposabilityLabs’developmentofSparkleveragesPolygonMiden’suniquefeaturestoenhancetradingefficiencyandtransparency.
- ThezkEVMroll-uptechnologyensuresefficientandscalableblockchainoperationsbyutilizingzero-knowledgeproofs.
- Sparkofferskeybenefitssuchason-chainexecution,advancedordertypes,andenhancedtradingefficiency.
- PolygonMidencombineselementsfromBitcoinandEthereum,providingauniqueandscalableblockchainsolution.