Thread by @PolygonHermez

We’re delighted to announce that @0xPolygon and @hermez_network have agreed on a public network merge.

Thread 👇

Right after this announcement, we’ll start the process of integrating the Hermez Network into the Polygon ecosystem, under the name Polygon Hermez.

#PolygonHermez will be maintained and developed with the support of Polygon, which will fund the Hermez team operations.

The main focus of the project will be the development of the #zkEVM.

This was announced by @jbaylina at #EthCC Paris during his talk "Introducing zkEVM."

The $HEZ token will cease to exist after a specific date yet to be defined. $MATIC will become the utility token of Polygon Hermez.

A smart contract will be published to enable the swap of HEZ for MATIC. The peg between HEZ and MATIC will be as follows: 1 HEZ = 3.5 MATIC.

The ratio was established on the 4th of August at 11:00 according to the USD value of both tokens on @Bitfinex as communicated in our tweet last week.

https://twitter.com/hermez_network/status/1422907045993492488

Polygon and Hermez are aligned in their vision of bringing the world to #Ethereum and scaling it.

The Hermez team is delighted to be part of the Polygon family, and we’re committed to helping onboard one billion users to the Polygon ecosystem.

We’ve published this information on our blog post, which you can read here 👉 blog.hermez.io/polygon-hermez…

The Hermez and Polygon teams are looking forward to this new chapter in our collaboration.

We want to invite our communities to interact and merge.

The Hermez Team