Polygon Prepares a Series of Announcements for Version 2.0

Polygon (MATIC) is set to reveal its Version 2.0 roadmap, aiming to transform the project into the "value layer for the Internet."

Polygon Prepares a Series of Announcements for Version 2.0

In an announcement made on the evening of June 13, Polygon (MATIC) disclosed that over the coming weeks, it will gradually unveil its development roadmap for Version 2.0. This update will encompass a broad range of enhancements across nearly every aspect of Polygon, including the future of the Polygon PoS chain, new utility for the MATIC token, and a transition to a higher-level community governance model for the protocol and the project’s fund.

Polygon asserts that Version 2.0’s vision is to create a "value layer for the Internet," supporting decentralized applications, digital ownership, community coordination methods, and more.

Polygon 2.0 will feature a network of layer-2 solutions leveraging zero-knowledge (zk) technology, enabling seamless data interoperability, infinite scalability, and abundant liquidity. However, for the average user, Polygon will continue to function as a single blockchain. Previously, Polygon launched the Supernet initiative to assist other projects in building their own blockchains, with Aavegotchi and Immutable being notable partners.

To date, Polygon has developed only one zk solution: Polygon zkEVM, which launched in March 2023. The Polygon PoS mainnet is not yet compatible with zk technology, though the project has indicated that it is exploring ways to address this issue.

Polygon 2.0 Announcement Schedule

Next week, Polygon will unveil its new roadmap for the Polygon PoS chain on June 19, followed by updates on blockchain architecture on June 26, new utility for the MATIC token on July 10, and governance changes on July 17.

Recently, Polygon faced significant challenges as it was classified as a security in the SEC’s lawsuits against Binance and Coinbase. During the crypto market dump on June 11, MATIC’s price dropped nearly 30% to $0.50, its lowest value since July 2022, before recovering to $0.63 at the time of writing. Polygon’s development team has since issued a statement implicitly rejecting the SEC’s security classification, asserting that the MATIC token was created to help users globally access the solutions provided by the project.

MATIC has not shown any significant reaction to the upcoming announcements regarding Polygon Version 2.0.

4h Chart of MATIC/USDT on Binance as of 08:15 AM on June 13, 2023