M&A

M&A

Ethereum scaling co Polygon acquires US-based Mir Protocol for $400-M

Inc42  

Ethereum scaling and infrastructure development platform Polygon (formerly Matic Network), has acquired Ethereum scaling startup Mir Protocol for USD 400 million. This is Polygon's second play in the zero-knowledge rollup (ZK rollup) space after it acquired Hermez Network in August 2021. Founded in 2019, US-based Mir Protocol (also known as Predicate Labs) is an Ethereum scaling startup that uses ZK-proof technology. Founders Brendan Farmer and Daniel Lubarov and the team at Mir will join Polygon, leading the rebranded vertical ‘Polygon Zero'. Polygon and Mir are reported to have closed the deal in November-end. Founded in 2017 by Anurag Arjun, Jaynti Kanani, Mihailo Bjelic and Sandeep Nailwal, Mumbai-based Polygon (formerly Matic Network) is a blockchain scalability platform. Polygon's solutions are almost synonymous with Ethereum, which have seen widespread adoption with 500+ DApps, over 567 million transactions with 6 million+ daily transactions.