Polygon Miden: Core Architectural Concepts and Transaction Models

Polygon released its Q3 2024 report showcasing network adoption and usage metrics. **Key highlights:** - Report produced by Token Relations featuring network statistics - Discussion led by co-founders Marc Boiron and Sandeep Nailwal - **Notable mention of Polymarket** as example of platform growth - Live presentation available on YouTube The quarterly report provides insights into Polygon's ecosystem development and user engagement across its proof-of-stake and zkEVM networks. [Watch the full report](https://youtube.com/live/Zctztg0VFsQ?feature=share)

**Tether has released WDK (Wallet Development Kit)**, an open-source infrastructure designed for next-generation wallets. Key features include: - **Modular, self-custodial architecture** built for both humans and AI agents - **Native support for USDT0 and XAUt0** tokens to accelerate payments - **Built specifically for Polygon** network integration The WDK aims to provide developers with the tools needed to create advanced wallet solutions that can handle both traditional users and automated agents. This builds on Polygon's existing support for over 6 million wallets with native stable and asset-backed liquidity. *The open-source nature allows developers to customize and integrate the infrastructure according to their specific needs.*

**Visa and Allium Labs released a comprehensive report** revealing Polygon's dominance in stablecoin lending markets. **Key findings:** - Polygon processed **$192+ billion** in stablecoin lending volume this year - Outperformed major competitors including Ethereum, Arbitrum, Base, and Solana - Report highlights **$670 billion** in stablecoin loans originated over the past 5 years **Market implications:** - Demonstrates Polygon's growing role in DeFi infrastructure - Shows institutional interest in blockchain-based lending solutions - Validates stablecoin utility beyond simple payments The report features companies like Huma, which has facilitated **$7 billion** in transaction volume by providing stablecoin liquidity to payment institutions. [Read the full Visa report](https://corporate.visa.com/content/dam/VCOM/corporate/solutions/documents/stablecoins-beyond-payments-onchain-lending-opportunity.pdf)

**Polygon Labs CPO John3gan** shares how his personal experiences living across different countries highlighted the **practical challenges of accessing money globally**. - Moving cash from point A to point B remains difficult for many people worldwide - **Polygon rails are designed to lower these barriers** and improve financial connectivity - The mission extends beyond personal needs to **solving financial access for everyone** This perspective comes as Polygon continues to lead in **small payment market share** and gains ground in medium payments, positioning itself as the go-to infrastructure for everyday, low-fee peer-to-peer transactions.

**Traditional finance is experiencing a paradigm shift** as stablecoins prove to be more than just digital assets. **Key developments:** - Stablecoins serving as the **catalyst** for broader TradFi adoption - Financial institutions now recognizing crypto as **core infrastructure** rather than alternative investments - Live discussion from NYSE featuring industry leaders on this transformation **The bigger picture:** - Major institutions like Goldman Sachs pushing deeper into onchain finance - Regulatory frameworks evolving across regions for stablecoins and digital assets - **Growing convergence** between traditional finance and blockchain technology This shift represents a fundamental change in how established financial players view cryptocurrency - moving from skepticism to integration as essential financial infrastructure.