Miden Raises $25M for Privacy-Focused ZK-Rollup L2 Blockchain, Spun Out From Polygon Labs

Miden, a privacy-focused blockchain project, has successfully completed a $25 million seed funding round. The round was led by a16z, Hack VC, and 1kx, with participation from other investors including Finality Capital Partners and Symbolic Capital.

Originally incubated by Polygon Labs, Miden has now spun out to operate independently as a ZK-rollup L2 blockchain on Ethereum. The project, led by a 17-person team, aims to enhance transaction privacy through zero-knowledge proofs while maintaining blockchain performance and decentralization. Notable angel investors include Rune Christensen, Avery Ching, and Sreeram Kannan.

Polygon Labs, although not a direct investor in the seed round, has agreed to allocate approximately 10% of Miden's future token supply to Polygon token holders. Miden's ambitions include rivaling Solana and Aptos, and it plans to integrate with Polygon's AggLayer for shared liquidity.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.