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What is Polyhedra and How to Get Token?
04/17/2023

What is Polyhedra and How to Get Token?

04/17/2023
4,4

Polyhedra Network is building the next generation of infrastructure for Web3 interoperability, scalability, and privacy through advanced Zero-knowledge proof (ZKP) technology. Learn more about Polyhedra with Cryptonica guidance

What is Polyhedra Network?

Source and Copyright: © Polyhedra Network

Polyhedra Network provides trust-minimized and highly-efficient interoperability solutions for asset transfers, message passing, and data sharing between various Web2 and Web3 systems.

As the Web3 ecosystem continues to evolve, interoperability will become increasingly important. Interoperability refers to the ability of different blockchains, protocols, and systems to communicate and work together seamlessly. Polyhedra believes that the future of Web3 is interoperable, connecting blockchains, Metaverses, and the Internet.

Interoperability is challenging, even for secure cross-chain bridging between blockchain networks.

The cross-chain bridge protocol is a crucial component for enabling interoperability across different blockchain networks. However, the existing cross-chain solutions rely heavily on trust assumptions, which are vulnerable to various security threats.

Over time, attacks targeting cross-chain bridges have resulted in losses of over 1.8 billion USD for users.

Polyhedra’s Products

zkBridge

The testnet of zkBridge is live. It provides trustless and efficient cross-chain infrastructures for the layer-1 and layer-2 interoperability by using deVirgo, a novel distributed proof system.

ZK-DID

The ZK-DID is a verifiable credential system which is secure, interoperable, scalable and easy-to-use. It protects users’ privacy with advanced zero-knowledge proofs that can be used for both Web2 and Web3 scenarios.

ZK-NFT

ZK-NFT is a programmable NFT protocol with dynamic asset and data containers, realizing maximum interoperability. ZK-NFT is powered by zero-knowledge proofs with stealth address models to protect privacy of related assets.

Project Team and Funding

The team behind Polyhedra Network consists of leading engineers, developers, and researchers from prestigious institutions like UC Berkeley, Tsinghua University, and Stanford University. In February 2023, Polyhedra successfully raised $10 million in a strategic funding round co-led by Binance Labs and Polychain Capital. The project also received support from Animoca Brands, ABCDE Capital, Sparkle Ventures, and more. And here's more good news for the project:

Does Polyhedra Network have a Token?

Polyhedra Network has not officially announced a token launch. However, it is a blockchain infrastructure provider, so it stands to reason that it needs a token to support its ecosystem and facilitate the functioning of the platform. According to its roadmap, the team is currently focusing on integrating its bridge and decentralized identity infrastructure with other blockchain networks, and launching application programming interfaces (API) and software development kits (SDK) for developers.

How to Receive Potential Polyhedra Network Token Airdrop?

Disclaimer. Not financial advice. Following these steps doesn't guarantee you an airdrop. Don't risk funds you can't afford to lose.

1. Claim Testnet Tokens from Faucets

You will need testnet tokens on different chains to cover gas fees. You can get some from these faucets: ETH Goerli Faucet, BNB Faucet, Oasis Faucet, Polygon Faucet, Avalanche Faucet, and Fantom Faucet.

2. Create New NFTs with Polyhedra CreatorTool

Use the Polyhedra CreatorTool to create new NFTs. Set a name and description, and select a Testnet network of your choice. You can view all created and owned NFTs on the My NFTs page.

3. Import NFT to Polyhedra zkBridge

Go to the My NFTs page and click on the “zkBridge” button. Select a testnet receiver blockchain of your choice and transfer the NFT. Make sure you have gas fees on the other end as well.

Claim your NFT on the testnet receiver chain, and that’s it! Repeat the process on different testnet blockchains to enhance visibility of your on-chain activities.

4. Provide Feedback on Discord

Share your feedback, including wallet address, screenshots, and transaction IDs, in the “suggestions-and-support” Discord channel.

Airdrop Review

When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

  • Likelihood of Airdrop: Polyhedra Network hasn’t confirmed a token launch yet, but as a blockchain infrastructure provider, it likely requires a token to support its ecosystem and facilitate platform operations.
  • Airdropped Token Allocation: There is no tokenomics yet.
  • Airdrop Difficulty: The steps are fairly easy to follow. All you have to do is create an NFT on Polyhedra and transfer it to different testnet chains. You will need some testnet tokens to cover gas fees.
  • Token Utility: There is no token yet, but it is likely it will be used for governance, ecosystem support, platform operations, and network security.
  • Token Lockup: There is no tokenomics yet.

Summary

Polyhedra Network hasn’t announced a token launch, but it’s likely to introduce one as a blockchain infrastructure provider. No tokenomics are available, but the expected token utility includes governance, ecosystem support, platform operations, and network security. Participating in the potential airdrop is relatively easy. Create an NFT on Polyhedra and transfer it across different testnet chains, with testnet tokens needed for gas fees.

What’s Next?

With the support of the investors, Polyhedra will integrate zkBridge and zkDID infrastructure with additional blockchain networks, and launch APIs and SDKs to provide builders with the tools for streamlined development and collaboration. They will continue to refine the paraPlonk protocol to attract developers seeking a highly efficient and distributed zk-rollup solution in the Web3 space.

Polyhedra believes that every network should be interconnected in Web2, Web3 and the Metaverse.

Learn more at https://polyhedra.network

Twitter: https://twitter.com/PolyhedraZK

Discord: https://discord.com/invite/WkjUe5tfZP

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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

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