According to official news, Ethereum Layer 2 developer Polymer Labs announced the launch of the Polyverse test network, which will reward developers, infrastructure operators and Builders for enhancing Ethereum expansion, developing cross-chain applications and promoting in the Cosmos ecosystem through Layer 2 solutions. for contributions from IBC.
The Polyverse testnet is divided into three phases, including:
The first phase of Basecamp (already live and running until April) allows for the development of DApps using Polymer to facilitate the development and seamless interoperability of innovative DApps and enhance developer tools within the ecosystem;
The second phase is scheduled for release in March, during which time Polymer will select a subset of DApps developed in the first phase and develop additional incentives for end users to join the testnet. Phase 3, planned for release in late April, emphasizes important infrastructure components, including developing additional tools to support repeater operations and soliciting feedback on the repeater incentive program.
Prior to news in January, Polymer Labs completed a $23 million Series A round of financing, led by Blockchain Capital, Maven 11 and Distributed Global, with participation from Coinbase Ventures, Placeholder, Digital Money Group, North Island Ventures and Figment Capital.