Hong Kong emerges as hub of web3 activity after Hong Kong FinTech Week
Hong Kong emerges as hub of web3 activity after Hong Kong FinTech Week
During Hong Kong FinTech Week, several notable events took place, including the drop of exclusive NFTs by The Aftermint and the Hong Kong Monetary Authority, the prototyping of a DID solution by HSBC using Polygon, and the empowerment of builders through a hackathon by Animoca Brands, AWS, and Polygon Labs. Additionally, an enablement program was introduced by Cyberport, AWS, and Polygon Labs, and Sandeep Nailwal spoke at CVCF2023.
Polygon Announces 33 Grant Recipients for Season 2 Direct Track
Polygon has selected 33 projects as recipients for their Community Grants Program Season 2 Direct Track. These projects will receive support to develop solutions within the Polygon ecosystem. The grant program, which opened applications in January 2025 with a 35M POL allocation, focused on several key areas: - AI agents - Apps and infrastructure - DePIN (Decentralized Physical Infrastructure Networks) - Memecoin projects Independent Grant Administrators including @ai16zdao, @crossmint, @iotex_io, @thriveprotocol, and @gitcoin helped oversee the selection process. Individual project spotlights will be featured in the coming weeks.
Morpho and Gelato Launch Seamless DeFi Lending on Polygon
Morpho has partnered with Gelato to launch a new crypto-backed lending service on Polygon. The integration offers a frictionless borrowing experience with several key features: - No custody requirements - No transaction signing - Zero gas fees - No credit checks needed The service targets exchanges, wallets, custodians, and apps looking to embed lending functionality. Implementation takes hours rather than months using Gelato's Smart Wallet SDK, which eliminates common Web3 friction points like wallet extensions and seed phrases. Learn more: [Morpho Announcement](https://morpho.org)
Agglayer v0.3 Launches with Pessimistic Proofs
Agglayer has released version 0.3, building on their successful v0.2 testnet launch. The protocol introduces **pessimistic proofs** - a groundbreaking implementation for unifying EVM chains. Key features: - First-ever pessimistic proof system for cross-chain communication - Cryptographic safety guarantees for cross-chain balances - Secure message passing between different blockchain stacks The project has progressed from devnet through testnet, reaching this significant mainnet milestone. Development can be tracked at [Agglayer GitHub](https://github.com/AggLayer).
Agglayer v0.3 Upgrade Enables Non-CDK Chain Integration
Agglayer announces v0.3 upgrade, marking a significant expansion in cross-chain compatibility. The update will enable non-CDK chains to join the network, with Polygon PoS integration planned for Q3. Key improvements: - Enhanced pessimistic proof security - New chain-specific execution proof verification - Sub-10 second interoperability target - Expanded balance verification system The upgrade represents a crucial step toward chain-agnostic infrastructure, focusing on secure and rapid cross-chain communication. This development builds on February's pessimistic proof implementation, further strengthening the protocol's security framework.
Soon.on Polygon
Polygon continues its development trajectory with a new milestone approaching. The platform, known for its Ethereum scaling solutions and ZK-rollup technology, is preparing for a significant update. - Timeline indicates progression from May 2022 announcements - Multiple confirmations of 'Soon' status suggest final testing phases - Implementation expected on Polygon mainnet *Stay tuned for technical specifications and launch details.* For developers and users: Prepare your applications for potential network updates.