Polygon Spin-Off Miden Secures $25M to Boost Institutional Blockchain Privacy and Speed

Miden, a protocol specializing in privacy and high-speed transactions for large institutions, has raised $25 million in a seed round led by a16z crypto, 1kx, and Hack VC. Born out of Polygon’s ecosystem in 2021, Miden is now spinning off to focus solely on delivering zero-knowledge privacy solutions ideal for handling large transaction batches required by major organizations. The funding will drive the expansion of Miden’s ecosystem and developer tooling as the protocol prepares to launch its main network by the end of the year. Although Polygon’s total value locked has significantly dropped from its peak, this spin-off is viewed by Polygon Labs as a transformative step towards a more modular blockchain architecture, setting a new blueprint that dramatically contrasts with existing infrastructures like Ethereum or Solana.