Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
DeFi derivatives protocol Polynomial will cease operations

DeFi derivatives protocol Polynomial will cease operations

ForesightNewsForesightNews2026/02/15 03:44
Show original

Foresight News reported that the DeFi derivatives protocol Polynomial announced on Twitter that it has ceased operations and entered the winding-down phase as of February 14, Beijing time. Both Polynomial Chain and Polynomial Trade will be shut down, with forced liquidation scheduled for February 18, the liquidity layer closing on February 24, and the chain ceasing operation on March 3.


Polynomial stated that the previously announced TGE plan, which was scheduled for Q1, will also be canceled, as they are unwilling "to issue tokens for a product that is about to disappear." However, participant data will be retained, and early supporters will have priority access to new company products.


Polynomial also mentioned that technology is not the moat for the derivatives market, but liquidity is. Unfortunately, Polynomial lacked liquidity, with its TVL peaking at only $8 million. The team stated that the new company will still be related to derivatives.


Foresight News previously reported that in May 2023, Polynomial announced the completion of a seed round of financing, with participation from Road Capital and some Synthetix executives. The amount raised was not disclosed.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Pfizer (PFE.US), BioNTech (BNTX.US), and Moderna (MRNA.US) seek dismissal of Bayer’s Monsanto mRNA patent lawsuit, but the judge rejects the request

A federal judge in Delaware on Monday rejected the requests from Pfizer, BioNTech, and Moderna to dismiss a lawsuit filed against them by Monsanto, a subsidiary of the German pharmaceutical giant Bayer. The lawsuit concerns these pharmaceutical companies' use of a patent related to mRNA technology.

智通财经•2026/09/29 02:46

After years of waiting and another delay, Tesla (TSLA.US) postpones the Roadster debut to October 15 as severe weather forces the event to stop.

Tesla has rescheduled the unveiling event for its next-generation Roadster, originally planned for this week, to October 15.

智通财经•2026/09/29 02:46

Debt and inflation become the biggest constraints! Deutsche Bank warns: The global market "policy safety net" is failing and future volatility may intensify

Deutsche Bank Research stated in its latest report that the era of large-scale policy interventions used to cushion global economic shocks over the past decades is coming to an end. The continuous rise in sovereign debt, high interest rates, and persistent inflation are all weakening the traditional “safety net” relied upon by governments and central banks.

智通财经•2026/09/29 02:46