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DeFi derivatives protocol Polynomial will cease operations

DeFi derivatives protocol Polynomial will cease operations

ForesightNewsForesightNews2026/02/15 03:44
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Foresight News reported that the DeFi derivatives protocol Polynomial announced on Twitter that it has ceased operations and entered the winding-down phase as of February 14, Beijing time. Both Polynomial Chain and Polynomial Trade will be shut down, with forced liquidation scheduled for February 18, the liquidity layer closing on February 24, and the chain ceasing operation on March 3.


Polynomial stated that the previously announced TGE plan, which was scheduled for Q1, will also be canceled, as they are unwilling "to issue tokens for a product that is about to disappear." However, participant data will be retained, and early supporters will have priority access to new company products.


Polynomial also mentioned that technology is not the moat for the derivatives market, but liquidity is. Unfortunately, Polynomial lacked liquidity, with its TVL peaking at only $8 million. The team stated that the new company will still be related to derivatives.


Foresight News previously reported that in May 2023, Polynomial announced the completion of a seed round of financing, with participation from Road Capital and some Synthetix executives. The amount raised was not disclosed.

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