According to Odaily Odaily, DeFi derivatives protocol Polynomial announced that the on-chain derivatives market has grown 100 times in recent years, and its core judgment was correct, but the execution did not meet expectations. The team has decided to shut down the current business in an orderly manner.
Polynomial stated that the platform has accumulated 27 million transaction data points and has systematically identified its product moat and key competitive elements. In the next phase, it will prioritize building long-term barriers to entry. The team emphasized user fund security and will complete the shutdown process according to standardized procedures.
Meanwhile, Polynomial stated that it will not abandon its mission of "making on-chain derivatives available at scale" and will restart the project with the same team, optimize the execution path, and provide priority participation to existing users.
