polyverse

ChainCatcher news, Ethereum Layer 2 developer Polymer Labs has announced the launch of the Polyverse testnet, which will reward developers, infrastructure operators, and builders for their contributions to enhancing Ethereum scalability through Layer 2 solutions, expanding cross-chain applications, and promoting IBC within the Cosmos ecosystem.The Polyverse testnet is divided into three phases. The first phase, Basecamp (now live and running until April), allows the development of dApps using Polymer, aimed at fostering innovative dApp development and seamless interoperability, while enhancing developer tools within the ecosystem. The second phase is scheduled to launch this month, during which Polymer will select a subset of dApps developed in the first phase and establish additional incentives for end users to join the testnet. The third phase of Polyverse emphasizes fundamental infrastructure components, developing more tools to support relayer operations, and soliciting feedback on the relayer incentive program, with the goal of refining and optimizing the incentive mechanisms to encourage participation and improve the overall security and effectiveness of cross-chain communication.According to RootData data, Polymer Labs completed a $23 million Series A funding round in January 2024, led by Blockchain Capital, Maven 11, and Distributed Global.