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Polygon and Hermez Network Merge for $250M

This is the first time a blockchain network is completely merging with another.

Polygon x Matic

As part of a 250 million MATIC deal announced Friday, Polygon will merge with Hermez Network, an Ethereum-based rollup.

A new version of the software, releasing under Polygon Hermez, integrates into Polygon’s SDK and Avail products. Each of the Hermez project components will be incorporated into Polygon’s ecosystem. This includes its personnel, its technology, and its native HEZ token.

It’s the first time a blockchain network has wholly merged with another.

Integrating Service

When two Ethereum projects announced earlier this year that they would integrate their systems into a DAO called “Keanu,” they said they would maintain their trademarks and enterprises independent. In addition, Yearn Finance makes regular announcements about acquisitions and collaborations without revealing what is going on behind the scenes.

In contrast, Polygon absorbed Hermez’s staff, which is entirely another issue altogether.

Polygon’s acquisition of Hermez’s staff and protocol is an altogether separate matter.

“We consider ZK cryptography the single most important strategic resource for blockchain scaling and infrastructure development, and we have a clear goal of becoming the leading force and contributor in this field for years to come,” Polygon co-founder Mihailo Bjelic wrote in a comment.

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