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 enables Spark to offer advanced ordertypes,providing a transparent view of market depth andliquidity,and enhancing tradingefficiency.
pioneer@compolabsis building a superfast onchain clob with astate-minimizedapproach on polygonmiden.
withmiden,composability labs reimagines blockchain design by baking in stateminimization.
makingDeFibetterwith@Sprkfiorderbooks:https://t.co/jqUNC22F28
https://twitter.com/0xPolygon/status/1807766700785332373
Zero-KnowledgeProofs andEfficiency
Polygon Miden utilizes zkEVMroll-uptechnology,enabling block creation and authentication without storing the entirestate.Zero-knowledge（ZK）proofs allow users to storedata,with the rollup keeping track of verifiablecommitments.When auser’sstatechanges,a ZK proof validates thetransformation,ensuring efficient and scalable blockchainoperations.
KeyBenefitsofSpark
- On-ChainExecution:Ensuresgreatertransparencyandsecuritycomparedtooff-chainsolutions.
- AdvancedOrderTypes:Supportsawiderangeofordertypesandprovidesatransparentviewofmarketdepthandliquidity.
- EnhancedTradingEfficiency:ReducescriticalimplementationissuesinDeFi,enhancingtheoveralltradingexperience.
Spark’son-chainexecution model mitigates the tradeoffs associated withoff-chainorderbooks,such as reduced transparency and potential securityrisks.By incorporating standard practices for trading strategies andalgorithms,Spark supports efficient and effective tradingoperations.
AdvancingDecentralizedFinance
Composability Labs is further advancing decentralized finance by bringing executionon-chainand buildinghigh-performance,order-book-basedprotocols.PolygonMiden’sfeatures,such as account abstraction and local assetstorage,improve user experience by ensuring efficiency andsecurity.Each account in Polygon Miden is represented by a smartcontract,making potential exploits more challenging as each account must be individuallytargeted.
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$35milliongrantinitiativesupportsinnovationinDeFitradingandstatestoragereduction.
- Spark,developedbyComposabilityLabs,utilizesPolygonMiden’sstateminimizationfeaturestoenhancetradingefficiencyandtransparency.
- ThezkEVMroll-uptechnologyensuresefficientandscalableblockchainoperations,reducingstatebloat.
- Spark’son-chainexecutionmodeloffersgreatertransparencyandsecuritycomparedtooff-chainsolutions.
- PolygonMidencombinesBitcoinandEthereumelements,offeringauniqueandefficientblockchainexperience.