ChainCatcher news, according to Coindesk, Indian telecom and technology company Jio Platforms (JPL) announced a partnership with the Polygon development team Polygon Labs to launch Web3 and blockchain services in India. Jio Platforms is a wholly-owned subsidiary of Reliance Industries, owned by Asia's richest man Mukesh Ambani.According to the announcement, the partnership will leverage Polygon's blockchain technology to add innovative Web3 features to Jio Platform's existing applications and services, serving over 450 million users.

ChainCatcher news, according to official sources, the Polygon community funding program has announced the launch of its second season, with a total prize pool of 35 million POL. Independent grant distributors include Eliza Labs (ai16z), Crossmint, IoTeX, Thrive, and Gitcoin, covering areas such as: AI, DePIN, and Memecoins.

ChainCatcher message, Indian Railways has partnered with Chaincode Consulting to issue NFT-based tickets for the MahaKumbh Mela festival, integrating with the Polygon blockchain for scalability. The NFTs will be minted on the Polygon blockchain and provided through the Real World Assets (RWA) and traceability platform NFTtrace.

ChainCatcher news, ai16z co-founder Shaw posted on the X platform stating that he finds the idea of DePIN agents quite interesting. Although it is still in the early stages, one can imagine how it will develop. In addition, Shaw revealed that projects currently building on Polygon using Eliza can reach out for connections. Some grants are being established, but he hopes to first understand who is already engaged in development.

ChainCatcher news, Polygon officially announced on X that the Agglayer v0.2 testnet is now live, and the mainnet will be launched in early 2025.

ChainCatcher news, according to The Block, shows that members of the Polygon community have rejected a preliminary proposal (or pre-PIP) that suggested deploying over $1 billion in stablecoin reserves to generate yield.The proposal was put forward by Web3 risk provider Allez Labs in collaboration with DeFi protocols Morpho and Yearn, aiming to utilize approximately $1.3 billion in DAI, USDC, and USDT reserves in the PoS Chain bridge for yield generation.Polygon stated that community members expressed concerns about security issues and the lack of an opt-in mechanism for affected users, casting doubt on the feasibility of the proposal. Given the community's reservations, the proposal seems unlikely to pass, but this does not hinder Polygon from exploring innovative or even bold ideas in the future.

ChainCatcher news, Trading Strategy co-founder Mikko Ohtamaa criticized Polygon for using user-bridged USDC deposits for funding markets (such as Morpho), believing this practice poses multiple risks:Undermining the illusion of self-custody: Although the Polygon bridge is controlled by a multi-signature wallet, this operation breaks users' trust in self-custody.Attracting regulatory scrutiny: The movement of billions of dollars could attract significant attention from regulators and the media.Lack of user choice: Currently, users cannot choose whether to participate in this mechanism, resulting in a lack of transparency.Double counting issue: The bridged USDC is used for lending services on Polygon while also being utilized in Morpho on the mainnet.He suggested that Polygon explore more transparent methods, such as launching an independent bridging service that allows users to choose to convert USDC into "Polygon yield-bearing USDC." Additionally, he mentioned that Circle has launched a non-bridged version of USDC on Polygon, but due to its late introduction and incompatibility with the bridged version of USDC, it has not gained widespread adoption.

ChainCatcher news, according to The Block, Lido announced on Monday that it will stop Polygon staking services and informed users that they can withdraw funds before June 16, 2025. The announcement also stated that after June 16, 2025, users will withdraw through a browser tool.The announcement indicated that multiple factors prompted Lido to reassess and ultimately exit the staking service on the Polygon PoS chain, including limited user adoption, insufficient rewards, resource-intensive maintenance requirements, and changes in ecosystem dynamics.

ChainCatcher message, Lido posted on social media to remind stMATIC holders of important dates to keep in mind:Staking on Lido on Polygon will stop on December 16;From December 16 to June 16, 2025, there will be a transition period during which withdrawals can be processed through the Lido on Polygon UI;From January 15 to January 22, 2025, the protocol will be paused and will resume operation afterward, during which no withdrawals can be processed;On June 16, 2025, front-end support will end, and withdrawals can only be made through browser tools.The Lido community had previously released a discussion proposal in October to initiate a sunset process for the staking protocol Lido on Polygon, similar to that on Polkadot and Kusama.

ChainCatcher message, the Aave community received a proposal from Aave Chan, suggesting to withdraw its lending services from the PoS chain of Polygon. This move is a response to Polygon's proposal to use cross-chain stablecoins for yield generation.

ChainCatcher news, according to The Block, Web3 risk provider Allez Labs has drafted a Pre-Polygon Improvement Proposal in collaboration with DeFi protocols Morpho and Yearn, seeking input from the Polygon community on deploying approximately $1.3 billion in stablecoin reserves (DAI, USDC, and USDT) from the Polygon PoS bridge.The proposal claims that due to the $1.3 billion in stablecoin reserves being idle, these funds represent an opportunity cost of about $70 million per year. The aim is to utilize these funds to incentivize additional activity within Polygon PoS and the broader AggLayer.The stablecoin reserves will be gradually deployed into ERC-4626 vaults tailored for each asset type. The DAI reserves are proposed to be stored in Maker's sUSDS vault, while USDC and USDT will utilize the Morpho vault as the primary source of yield. According to the proposal, these vaults will be risk-managed by Allez.The proposal will be discussed through community forums and the dedicated governance committee for Polygon.

ChainCatcher news, according to Decrypt, the "Drive-and-Earn" platform Dimo is migrating from Polygon to Base. Co-founder Rob Solomon believes this move opens the door to valuable collaborations in the future.Dimo is a platform for developers to build applications and allow car drivers to profit from data. The project is described as a "global API layer for cars," aimed at making every car smart and programmable, and users can also earn money by selling data.

ChainCatcher news, Polygon revealed in a post on platform X that a pristine first edition holographic Charizard Pokémon card issued in 1999 will be tokenized through the Ethereum scaling network Polygon and auctioned by the collectibles platform Courtyard. It is reported that the card will be securely stored in Brink's vault, with an estimated value of up to $250,000.Marc Boiron added that this auction is not just about the Charizard card, but also showcases how blockchain can fundamentally change the world of collectibles. Additionally, a representative from Polygon Labs disclosed that they acquired the card from a well-known seller. According to market data since 2020, similar first edition Charizard Pokémon cards have sold for approximately between $264,000 and $400,000.

ChainCatcher message, Vitalik praised Polygon for being able to maintain stability (low fees) and supporting important applications like Polymarket in a tweet reply.

ChainCatcher news, according to Onchain Lens monitoring, a wallet associated with the founder of Polygon deposited 10 million POL (MATIC) to Binance 1 hour ago, worth 6.97 million dollars.The wallet received 20 million POL (worth 8.09 million dollars) from Polygon 3 weeks ago and deposited it to Binance. 2 days ago, the wallet received 50 million POL tokens (worth 35.79 million dollars) from the founder of Polygon's multi-signature wallet and sent 10 million POL (worth 7.17 million dollars) to Binance. Currently, the wallet holds 30 million POL, worth 20.64 million dollars.

ChainCatcher news, according to Cryptoslate, Polygon Labs CEO Marc Boiron attributed the difficulty in achieving broader adoption of the Polygon network to racial bias against its co-founder Sandeep Nailwal. In a post on the X platform on November 25, Boiron suggested that Nailwal's Indian heritage has led to prejudice that hinders the recognition of Polygon, despite its widespread use across the blockchain industry.He wrote, "If Sandeep were not Indian, Web3 would have embraced Polygon at scale, rather than treating it as a second-class citizen even when Polygon's proof of stake is more commonly used than all other blockchains combined." When a user in the cryptocurrency community argued that Indians hold significant positions in major tech companies worldwide, Boiron responded that geography also plays a role.He pointed out that Indians like Sreeram Kannan at EigenLayer face much less bias when working in Western countries compared to those working in India. Meanwhile, the broader Web3 community remains divided on this issue. Some users believe that the challenges faced by Polygon stem from competition from emerging Ethereum Layer 2 networks or the network's own strategies, rather than bias.

ChainCatcher news, according to Ember monitoring, an address associated with the Polygon team transferred 50 million POL (21.45 million USD) to 6 addresses 32 hours ago. All 50 million POL has entered Binance in the past 2 hours.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the Polygon Ecosystem Growth address has distributed 128.9 million POL (formerly known as MATIC), worth 47.57 million USD, to 45 addresses in the past 4 hours. The recipients of POL include institutional addresses such as CoinFund, Alameda Research, Galaxy Digital, and Animoca Brands.