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Polygon, former scaling leader, changes

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Welcome to the protocol, CoinDesk’s weekly wraps of the most important story of cryptocurrency tech development. We are Margaux Nijkerk and Sam Kessler, CoinDesk’s Tech & Protocol team.

In this issue:

Sandeep Nailwal controls the Polygon Foundation, chart of the new course, retired Zkevm
The Ethereum Foundation opens new Treasury policy with 15% Opex Cap
Bitcoin Core 30 to increase OP_RETURN’s data limit after the Developer Debate ends
Plume launched Genesis Mainnet to bring real-world assets to Defi

Network news

Sandeep Nailwal controls the Polygon Foundation, retired to ZKEVM: Polygon co-founder Sandeep Nailwal has officially assumed the CEO of the Polygon Foundation CEO, marked a pivot in the leading organization and a massage of the network’s longterm. Nailwal, who launched the project in 2017 when it was called the Matic Network, combined the team’s control and reorganization to Agglayer-the new Polygon cross-chain protocol that promises seamless interoperability on networks. The foundation will also retire to ZKEVM, Polygon’s Rollup Network. “This modified control marks the beginning of a strategic push for the polygon to regain its position before the web3,” the team wrote in a press release shared with CoinDesk – Marguax Nijkerkk Read more.

Ethereum Foundation’s New Treasury Policy: The Ethereum Foundation has published an updated Treasury policy, which outlines a series of new plans around token sales, buying FIAT and transparency skills designed to ensure “long-term agency, maintenance, and legitimacy.” The EF, a Swiss non-profit, plays a major role in the Ethereum blockchain ecosystem. In addition to the use of researchers, builders and community contacts, the foundation has been given a large trove of Ether (ETH) tokens in the Genesis of Ethereum it uses to fund its operations and support other ecosystem projects. In a blog post, the Foundation said it plans to announce 15% of its treasury on operating costs (“OPEX”), with a 2.5-year buffer that is kept all in its reserves. “We aim to reduce the annual Opex almost sequence in the next five years, ending with a lasting 5% baseline,” the foundation wrote. “This policy reflects our belief that 2025-26 is likely to be pivotal for Ethereum, guaranteeing the improved focus on critical delivery.” – Margaux Nijkerkk Read more.

Bitcoin Core 30 to increase OP_RETURN data limit: Developers of Bitcoin Core, the main open-source software for connecting the blockchain behind the world’s largest cryptocurrency, the 30-release version of October says will increase the default limit For OP_RETURN data Transactions from current 80 bytes to about 4MB, a limit imposed by the size of the Bitcoin block. The proposal for change, which confirmed to an update on GitHubhas caused a debate within the Bitcoin community. Critics argue that removal of the limit can encourage increasing increasing data, which potentially leads to network spam and a transition from Bitcoin’s primary function as a financial tool. – Sam Reynolds Read more.

Plume Mainnet lives: Plume, a blockchain network dedicated to real-world assets, announced the launch of the hot-looking Genesis Mainnet. The launch, according to a statement shared by the plume team, marked the “next generation” of the asset-backed defi-tokenizing traditional financial instruments, or real-world tools (rwa Blockchain -based financial. RWAs have taken the blockchain world, as viewed As a market that is so Be worth the dollar trillion with traditional financial institutions that continue to sink into crypto. – Margaux Nijkerkk Read more.

In other news

Safe, the popular multiparty crypto wallet previously called Gnosis Safe, launched a new development unit, the Safe Labs, in one step aimed at combining its operations and sharpening its roadmap product after it was targeted into the $ 1.4 billion hack of February -the biggest crypto heist to date. At the same time the change, the safe is building a more “opinionated” V2 of its platform that targets enterprise customers. – Sam Kessler Read more.
Morpho, an unauthorized cryptocurrency lending protocol, has opened an update aimed at further aligning decentralized financial (DEFI) with traditional lending by bringing more in the method of exporation, predictable loan terms. Morpho V2 delivers a fixed market rate, fixed loans with customizable terms, featuring previously invisible to the DeFI, which is necessary to meet the demands of institutions and businesses seeking to produce or switch on on-chain products, Morpho said in a press release on Thursday. Ian Allison Read more.

Regulation and policy

The US Securities and Exchange Commission has been working on policy to exclude platforms of decentralized financial (DEFI) from regulatory barriers, said Chairman Paul Atkins. Software developers who build Defi tools have no business to blame for how they are used, Atkins and other Republicans have argued with Final of Five Crypto Roundtables held by the agency since the turnover leadership under President Donald Trump. The Chairman said to a roundtable of experts at Defi that he ordered the SEC staff to look at changes in the policies of the agency “to provide the necessary homes for the givers and mediators to seek to oversee the chain’s financial systems.” Atkins called the potential exemptive relief “a change in change” that will allow entities under the SEC constituents to bring on-chain products and market services “fast. – Jesse Hamilton Read more.
The international unit owned by Alipay Ant Group is planning to find Stablecoin licenses in Hong Kong and Singapore, Bloomberg reported on Thursday. Ant International will apply for a Stablecoin release license once the regulation regulated in August, according to the report, citing people familiar with this matter. The firm also plans to apply for a similar license to Singapore native, as well as Luxembourg. – Jamie Crawley Read more.