{"id":47687,"date":"2021-08-13T19:51:52","date_gmt":"2021-08-13T16:51:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47687"},"modified":"2025-09-01T22:34:17","modified_gmt":"2025-09-01T19:34:17","slug":"polygon-acquires-hermez-network-in-250-million-deal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/polygon-acquires-hermez-network-in-250-million-deal\/","title":{"rendered":"Polygon acquires Hermez Network in $250 million deal"},"content":{"rendered":"<p>The Polygon project has acquired Hermez Network, a platform specialising in ZK-Rollups-based scaling solutions.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1\/14 It is a big day for <a href=\\\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\\\">@0xPolygon<\/a>!<\/p>\n<p>We are announcing a strategic focus on ZK-based scaling solutions and $1B in funding for this effort.<\/p>\n<p>As our first big foray into the exciting world of ZK, we are excited to announce the merger\/acquisition of <a href=\\\"https:\/\/twitter.com\/hermez_network?ref_src=twsrc%5Etfw\\\">@hermez_network<\/a>! \ud83d\udd25<\/p>\n<p>Thread.. \ud83e\uddf5 <a href=\\\"https:\/\/t.co\/ayEjUEpSK6\\\">pic.twitter.com\/ayEjUEpSK6<\/a><\/p>\n<p>\u2014 Polygon (@0xPolygon) <a href=\\\"https:\/\/twitter.com\/0xPolygon\/status\/1426214775868985350?ref_src=twsrc%5Etfw\\\">August 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The merger entails renaming Hermez Network to Polygon Hermez, and integrating native HEZ tokens into the new platform. The agreement was reached on August 4, with a deal value of 250 million MATIC (roughly $250 million at the time).<\/p>\n<p>In the new ecosystem, Polygon Hermez will form part of the product lineup alongside Polygon PoS, <a href=\\\"https:\/\/polygon.technology\/polygon-sdk\/\\\"> Polygon SDK<\/a> and <a href=\\\"https:\/\/blog.polygon.technology\/introducing-avail-by-polygon-a-robust-general-purpose-scalable-data-availability-layer-98bc9814c048\\\">Polygon Avail<\/a>.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">5\/14 Now back to Hermez. \ud83d\ude0a<\/p>\n<p>Starting today, we will initiate the process of merging Hermez into the Polygon ecosystem, where it will be operating under the new name: Polygon Hermez, along with other Polygon solutions such as Polygon PoS, Polygon SDK, Polygon Avail, etc.<\/p>\n<p>\u2014 Polygon (@0xPolygon) <a href=\\\"https:\/\/twitter.com\/0xPolygon\/status\/1426214788569305096?ref_src=twsrc%5Etfw\\\">August 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Polygon has allocated $1 billion for the development of ZK-Rollups-related solutions.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">4\/14 As mentioned above, we are committing $1B from our treasury to fund this effort. The funds will be used for:<\/p>\n<p>\u27a1\ufe0f Acquiring world-class ZK projects and teams;<br \/>\u27a1\ufe0f Building ZK based solutions;<br \/>\u27a1\ufe0f Hiring premium talent;<br \/>\u27a1\ufe0f Adoption of ZK solutions;<br \/>\u27a1\ufe0f Research funding etc.<\/p>\n<p>\u2014 Polygon (@0xPolygon) <a href=\\\"https:\/\/twitter.com\/0xPolygon\/status\/1426214785725583362?ref_src=twsrc%5Etfw\\\">August 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The program includes:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>acquiring projects focused on this technology;<\/li>\n<li>developing solutions based on ZK-rollups;<\/li>\n<li>hiring staff;<\/li>\n<li>deploying technological solutions;<\/li>\n<li>funding research.<\/li>\n<\/ul>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">8\/14 <\/p>\n<p>\ud83d\udd18 Hermez is a great team. <\/p>\n<p>Hermez is a team of 26 great people with various expertise. The team is spearheaded by the legendary <a href=\\\"https:\/\/twitter.com\/jbaylina?ref_src=twsrc%5Etfw\\\">@jbaylina<\/a>, one of the most prominent Ethereum researchers and contributors.<\/p>\n<p>\u2014 Polygon (@0xPolygon) <a href=\\\"https:\/\/twitter.com\/0xPolygon\/status\/1426214797213765634?ref_src=twsrc%5Etfw\\\">August 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abHermez \u2014 \u044d\u0442\u043e \u043a\u043e\u043c\u0430\u043d\u0434\u0430 \u0438\u0437 26 \u043e\u043f\u044b\u0442\u043d\u044b\u0445 \u043b\u044e\u0434\u0435\u0439, \u043e\u0431\u043b\u0430\u0434\u0430\u044e\u0449\u0438\u0445 \u0440\u0430\u0437\u043b\u0438\u0447\u043d\u044b\u043c\u0438 \u0437\u043d\u0430\u043d\u0438\u044f\u043c\u0438. \u041a\u043e\u043c\u0430\u043d\u0434\u0443 \u0432\u043e\u0437\u0433\u043b\u0430\u0432\u043b\u044f\u0435\u0442 \u043b\u0435\u0433\u0435\u043d\u0434\u0430\u0440\u043d\u044b\u0439 \u0414\u0436\u043e\u0440\u0434\u0438 \u0411\u0435\u0439\u043b\u0438\u043d\u0430, \u043e\u0434\u0438\u043d \u0438\u0437 \u0441\u0430\u043c\u044b\u0445 \u0432\u044b\u0434\u0430\u044e\u0449\u0438\u0445\u0441\u044f \u0438\u0441\u0441\u043b\u0435\u0434\u043e\u0432\u0430\u0442\u0435\u043b\u0435\u0439 \u0438 \u043a\u043e\u043d\u0442\u0440\u0438\u0431\u044c\u044e\u0442\u043e\u0440\u043e\u0432 Ethereum\u00bb.<\/p>\n<\/blockquote>\n<p>In July, Polygon <a href=\"https:\/\/u1f987.com\/en\/news\/polygon-launches-polygon-studios-to-promote-blockchain-games-and-nfts\">presented<\/a> a blockchain gaming- and NFT-focused division, Polygon Studios.<\/p>\n<p>Earlier in the Polygon ecosystem <a href=\"https:\/\/u1f987.com\/en\/news\/mark-cuban-invests-in-polygon-network-as-matic-surges-30-in-24-hours\">invested<\/a> billionaire Mark Cuban<\/a>.<\/p>\n<p>Read more about Polygon&#8217;s infrastructure, ecosystem, achievements and plans <a href=\"https:\/\/u1f987.com\/en\/news\/aave-curve-and-sushiswap-why-leading-defi-projects-are-integrating-with-polygon\">in our piece<\/a>.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Polygon project has acquired Hermez Network, a platform specialising in ZK-Rollups-based scaling solutions.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1179,1235,1264],"class_list":["post-47687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-layer-2-solutions","tag-mergers-and-acquisitions","tag-polygon-matic"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47687"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47687\/revisions"}],"predecessor-version":[{"id":47688,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47687\/revisions\/47688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}