Polynomial to Cease Operations, Plans to Restart Project in the Future

Odaily News DeFi derivatives protocol Polynomial announced in a post that the on-chain derivatives market has achieved 100x growth in recent years. While its core strategic direction is correct, the execution has not met expectations. The team has decided to orderly wind down its current operations.

Polynomial stated that the platform has accumulated 27 million transaction records. It has systematically identified the product's moat and key competitive factors, and will prioritize building long-term barriers in the next phase. The team emphasized user fund safety, committing to complete the shutdown following standardized procedures.

Meanwhile, Polynomial expressed it will not abandon its mission of "enabling the large-scale adoption of on-chain derivatives." The same team plans to restart the project in the future, optimizing the execution path, and will offer existing users priority participation rights.