Miden, a protocol centered on privacy and high processing speeds, is moving towards independence from the Polygon ecosystem. Developed to ensure data privacy and scalability for large institutions, Miden has announced receiving approximately $25 million in seed investment. This funding aims to define Miden’s roadmap, expand its ecosystem, and enhance developer tools.
Investment and Technological Strengthening
Leading the investment round were a16z crypto, 1kx, and Hack VC, with participation from Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, and MH Ventures. This financial package is intended to strengthen Miden’s technological infrastructure for its future strategic moves.
Using zero-knowledge technology, Miden is designed to help institutions maintain privacy during substantial payment transactions. The protocol allows for choosing between conducting public or private transactions for significant payments.
Azeem Khan, (Co-Founder of Miden) “Large corporations like Apple need transaction privacy when paying suppliers. Institutions are seeking a privacy solution that is compliant with regulations and offers high performance.”
Bobbin Threadbare, (Co-Founder of Miden) “Technically, we have a structure quite different from other blockchains. This structure doesn’t seem applicable on platforms like Ethereum 
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Miden and Its Relationship with Polygon
Miden was developed under the incubation program within Polygon in 2021. However, with Polygon’s strategic shift, Miden has focused on a different scaling solution. The total value locked in Polygon networks has decreased from approximately $4.4 billion during Miden’s announcement to $864 million today.
Sandeep Nailwal, (Founder of Polygon Labs) “Miden represents the future of blockchain technologies. This structure provides a blueprint for the ultimate form of blockchain.”
The mainnet of the protocol is expected to become operational by the end of the year. Miden’s solution-driven structure for large institutions’ privacy needs and its performance focus are closely monitored by the industry. The developed infrastructure aims to create more reliable and flexible transaction environments.
