Foresight News reports that DeFi derivatives protocol Polynomial announced it has ceased operations starting February 14th Beijing time and is entering the winding-down phase. Polynomial Chain and Polynomial Trade will both shut down, with forced liquidation scheduled for February 18th, the liquidity layer will be closed on February 24th, and the chain will cease operation on March 3rd.
Polynomial stated that the previously announced TGE plan scheduled for the first quarter will also be canceled, as they do not want 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 the new company’s products.
Polynomial also mentioned that technology is not the moat in the derivatives market—liquidity is. However, Polynomial lacks liquidity, with its TVL peaking at only $8 million. The team said that the new company will still be related to derivatives.
Foresight News previously reported that Polynomial announced the completion of a seed round of funding in May 2023, with Road Capital and some Synthetix executives participating; the funding amount was not disclosed.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Hong Kong Securities and Futures Commission approves two major RWA projects in a row for 7 days. How can traditional enterprises seize the 2026 compliance benefits?
Written by: Lulu
At the start of 2026, the Hong Kong Securities and Futures Commission (SFC) made a series of major moves in the compliant digital asset space, directly reshaping the industry landscape of RWA (Real-World Asset Tokenization).
On February 23, the SFC announced that it had granted a license to Esperanza Securities, a subsidiary of Yisheng Financial Technology, on February 13, allowing them to conduct compliant tokenized securities business for entertainment assets—such as the 40th anniversary Red Pavilion concert of Huang Kaichen, and offline entertainment assets like the Korean boy band Malaysia tour—officially bringing these into the regulated digital securities issuance category. Qualified investors can participate in concert investments by purchasing security tokens in small shares, sharing in industry dividends.
Just one day later, on February 26, Delin Holdings issued a notice that its Central Hong Kong Delin Building and other real estate RWA projects had been...
TechubNews8m ago
Monad integrates cbBTC to unlock $5 billion worth of Bitcoin DeFi potential
Chainlink CCIP has completed the cross-chain bridging of Coinbase's wrapped Bitcoin token cbBTC, allowing over $5 billion in assets to enter the Monad DeFi ecosystem. This marks Bitcoin's transition from "hold-only, no use" to "on-chain yield asset," accelerating its liquidity options within DeFi.
MarketWhisper25m ago
Japan's SBI Launches Trust-Based Stablecoin! "JPYSC" to Enter Institutional Settlement and Cross-Border Payments
SBI and Startale collaborate to launch a trust-based Japanese Yen stablecoin $JPYSC, expected to go live in Q2 2026. The stablecoin surpasses the 1 million Japanese Yen remittance limit, suitable for large-scale transactions and cross-border payments, with legal protections. Japan's rapidly growing crypto market will promote the formation of a digital Yen ecosystem. This plan has attracted the attention of multiple financial institutions and will challenge the US dollar stablecoin market.
CryptoCity1h ago
12 European banks promote Euro stablecoin, expected to launch in 2026
A coalition of 12 major European banks under the Qivalis initiative plans to launch a euro-pegged stablecoin by late 2026. This effort aims to compete with USD-pegged stablecoins, ensuring full collateralization and compliance with EU regulations.
TapChiBitcoin1h ago
Pump.fun mobile supports the issuance of tokens on competing platforms and other non-native assets
Pump.fun, a meme coin platform in the Solana ecosystem, announced that its mobile app now supports competitor platform tokens and non-native assets. Users can trade tokens issued by other platforms and wrapped Bitcoin and Ethereum, aiming to reduce trading friction and enhance user experience.
GateNews2h ago
Head of Growth at Base: The custom tagging feature has been launched on Base.
Odaily Planet Daily reports that Antonio García Martínez, Head of Growth at Base, announced on the X platform that the developer code allowing applications or protocols to add tags for themselves is now live on Base. This feature will provide on-chain attribution data for activities on the Base network.
He stated that this mechanism can support new business models for different applications and will serve as a data source for various future Base reward programs.
GateNews2h ago
