The Polygon Network Now Has NFT Support From Magic Eden

https://twitter.com/Web3Grandpappa

Magic Eden has improved its capacity to collaborate with gaming projects on the Polygon network by adding support for trade of non-fungible tokens (NFTs). The company intends to develop and take advantage of the growing blockchain gaming market on Polygon rather than only serving as a forum for NFT trading. The initiative switched to using multiple blockchains earlier this year, initially launching its marketplace on the Ethereum blockchain in August https://www.theblock.co/post/189035/magic-eden-expands-nft-support-to-polygon-network-embargo-9-am-et?utm_source=cryptopanic&amp%3Butm_medium=rss

Babylon Finance to shut down Nov. 15 after failing to recover from Rari/FEI hack

The Rari/FEI exploit caused Babylon Finance investment gardens to lose $3.4 million, whch led to users losing confidence and withdrawing 75% of its TVL. DeFi asset management protocol Babylon Finance will shut down its services on Nov. 15, according to an announcement by its founder Ramon Recuero on Aug. 31.

The announcement revealed that the protocol did not recover from the $80 million hack Rari/FEI, with the current market conditions making it hard to bounce back. Before the Rari/FEI hack, the protocol was in a relatively strong position as it had reached a total value locked of $30 million and created a top 10 lending pool on Rari. However, the Rari/FEI exploit resulted in its investment gardens losing $3.4 million, and its users withdrew 75% — around $14 million — of its TVL within two days. #togrp7 #Web3GrandPappa #mimeXmime

Full Story https://cryptoslate.com/defi-protocol-babylon-finance-to-shut-down-on-nov-15-blamed-rari-fei-hack/

Muse to Release Next Album on Polygon-based NFT Platform Serenade #togrp7

Formed in 2014, Muse won NME Award for Best British Band in 2007, 2010, and 2011, MTV Europe Music Award for Best World Stage Performance in 2019, and Grammy Award for Best Rock Album in 2011 and 2016, among many other accolades. Back in 2020, Mused also worked with Dapper Lab’s CryptoKitties project to create digital collectibles.

According to Serenade’s website, the platform uses layer-2 solution Polygon to mint NFTs—the company calls Polygon’s proof-of-stake (PoS) mechanism “far more efficient” than Ethereum’s current proof-of-work (PoW) consensus algorithm. Serenade’s one notable feature is that the platform doesn’t require users to create a crypto wallet before purchasing NFTs, and people can use debit and credit cards to purchase NFTs on the site. Users can also use their existing Bitcoin or Ethereum wallets linked to Coinbase.#togrp7

Mummy.io Collaborates With Polygon Studios to Enhance P&E Metaverse #togrp7

Immersive Play-And-Earn MMORPG, Mummy.io announces collaboration with Polygon Studios, an ecosystem that hosts umpteen Web3 companies for lending dApps and decentralized exchanges to sports betting and play-to-earn games, NFTs and DAOs. To scale the Mummy metaverse and allow its community to access various opportunities and future partnerships for digital assets, Mummy.io chose this collaboration.#togrp7

Polygon’s Q2 data shows significant growth in the ecosystem #togrp7

The average transaction cost on Polygon (MATIC) declined 49% to $0.018 during the second quarter, according to statistics released on July 26. The network reported that the total transactions it processed during the second quarter rose 4% to $284 million, and its revenue came in at over $5 million. Meanwhile, more developers used the network during the period as new contract creators increased by 273%, with more than 90,000 developers publishing their first contract on Polygon.Bungee, a bridge aggregator, saw its transaction volume spike by 972%, while its user base rose by over 1000%. #togrp7