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Polygon Introduces Governance Hub

The hub will facilitate protocol governance, system smart contract governance, and the management of Polygon Improvement Proposals (PIPs).

Quick Take

  • Polygon introduces a Governance Hub.

  • ETH ETF launch expected July 2nd. 

  • Infinex craterun farming campaign.

  • Uniswap goes live on ZKsync Era.

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Polygon Introduces Governance Hub

Polygon introduced the Governance Hub, a new governance portal developed in partnership with DAO tooling provider Aragon. The hub integrates two fundamental aspects of Polygon governance: Protocol Governance and System Smart Contract (SSC) Governance. It will also facilitate the submission and management of Polygon Improvement Proposals (PIPs). A new council will manage the governance of System Smart Contracts, with POL tokenholders having the ability to vote on or veto the council's decisions. The governance hub is currently in development and will be rolled out in phases, featuring iterative enhancements. The hub aims to become the central point for all Polygon upgrades.

ETH ETF Launch Expected July 2nd

Bloomberg analyst Eric Balchunas anticipates that trading for Spot ETH ETFs will commence by Tuesday, July 2nd. He stated that today, SEC staff issued minor comments on the S-1 forms submitted by issuers and requested their return within a week. The Form S-1 filings must be approved before trading can commence. On May 23rd, the SEC gave the green light to 19b-4 filings for eight Spot ETH ETFs. While the approval of S1 forms typically takes weeks to months, Balchunas suggests the agency might expedite approvals before the upcoming holiday weekend. Following the news, ETH's price increased by $100, moving from $3,410 to just over $3,500.

Infinex Announces Launch Season

Infinex, a CEX-focused interface for trading Synthetix Perps, launched Craterun, the final phase of its governance farming initiative. This campaign aims to distribute governance power via Patron NFTs to foster community-driven participation. Users holding funds on Infinex will earn crates, which function as raffle tickets, offering a chance to win a portion of $5 million in prizes. Participants from the previous phase will receive a 25% bonus if their assets remain deposited in the new campaign. Infinex is also adding support for ETH and SOL deposits. Founded by Synthetix founder Kain Warwick, Infinex aims to compete with CEXs by prioritizing UX and using smart accounts to minimize friction.

Uniswap Deploys On ZKsync Era

Uniswap is now live on ZKsync Era, marking it as the 10th supported EVM-compatible chain on the DEX. Users can swap and provide liquidity on ZKsync directly through the Uniswap interface. Uniswap is also hosting a quest campaign on Layer3. ZKsync Era, a ZK Rollup, launched on mainnet in March 2023 and currently has a total value locked (TVL) of $728 million. ZKsync is set to launch its native ZK token on Monday, June 17th.

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