Mina announces partnership with Polygon

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2021-09-13 15:25:12

About the partnership

Mina and Polygon will bring enhanced scalability, privacy, and verifiability to the DeFi economy.

Mina Protocol and Polygon currently working on implementing Mina support on Polygon PoS. This bridge will allow developers building applications on Polygon to leverage privacy and verifiability through Mina’s zero knowledge-SNARK-based protocol.

Sandeep Nailwal, co-founder of Polygon, said:

“Ethereum has become the default blockchain to support the DeFi platform allowing anyone, even the unbanked, to access important financial services such as savings, loans, and insurance. Polygon PoS extends Ethereum’s DeFi ecosystem and is bringing millions to web 3.0.

This announcement marks a hugely important step in the evolution of DeFi and will allow developers to build on the Polygon PoS chain to seamlessly combine enhanced privacy and Mina-powered verification. Protocols”.

Evan Shapiro, CEO of the Mina Foundation, said:

“Mina Foundation and Polygon share a dream of a completely decentralized dapp ecosystem that empowers users to control their private data. We are excited about the privacy-preserving and verifiable applications to be launched on Polygon using the Mina Protocol. “

Potential Dapps that can be built

Here are some potential dapps that can be built on top of Polygon by leveraging Mina’s zero-knowledge SNARK-enabled protocol:

  • DeFi platforms that require KYC can privately and securely obtain user information using Mina’s Snapps (zero knowledge-SNARK-based powered apps).
  • NFT builders who want to keep certain elements private, such as ownership data, can use Mina to do that.
  • Social Media dapps can verify that the user exists without asking them to share the PII.

Next plan

The Mina Foundation and the Ethereum Foundation are reviewing submissions from the joint request for proposals to build zero knowledge-SNARK-based applications on the Ethereum Blockchain to create a beneficial bridge for dapps on the Polygon chain. PoS and chains are compatible with other Ethereum virtual machines.

Polygon and Ethereum developers interested in implementing Mina/Snapps on Polygon can fill out this form: https://bit.ly/mina-polygon to register. Developers building on Polygon will have access to millions of users in the community.

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