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Miden, an independent project spun out of Polygon Labs, announced on April 29, 2025, that it has successfully completed a $25 million funding round led by Andreessen Horowitz (a16z Crypto).
The round also saw participation from leading funds such as 1kx, Hack VC, Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, and MH Ventures, along with notable angel investors like Rune Christensen, founder of MakerDAO, and Sreeram Kannan from EigenLayer.
Powerful Privacy with ZK Technology, Superior Performance with Edge Execution
Miden offers a privacy-focused blockchain infrastructure powered by zero-knowledge proofs (ZK proofs). Designed especially for institutional users, this framework allows for both public and private transactions to be executed with full confidentiality.
One of the project’s standout features is its edge execution model. This innovative technology enables transactions to be processed directly on users’ devices, eliminating the bottlenecks commonly encountered in traditional blockchain networks, while maintaining decentralization.
Bobbin Threadbare, Miden’s co-founder and a former Meta engineer, emphasized that this model not only enhances scalability but also makes privacy a built-in feature, rather than an optional add-on:
“Edge execution allows blockchains to scale without relying on supernodes and integrates privacy into the design from the beginning.”
Strategic Partnership with Polygon and Token Airdrop
Instead of joining the funding round directly, Polygon Labs is supporting the project through a strategic partnership. As part of the agreement, around 10% of Miden’s future native tokens will be airdropped to Polygon (POL) holders and stakers. This move is intended to strengthen Miden’s ties to the Polygon ecosystem while attracting community support.
Miden Mainnet to Launch in Q4 2025
Miden plans to use the raised capital to accelerate technical development and prepare for its mainnet launch, which is scheduled for the fourth quarter of 2025.
Sandeep Nailwal, founder of Polygon Labs, shared his vision for the project:
“Miden represents the future of blockchains. With edge execution at its core, it’s not just an upgrade — it’s a step toward the ultimate form of blockchain architecture.”
Positioning itself as a competitor to Solana, Sui, and Aptos, Miden also aims to play a central role in the Agglayer ecosystem.
Among a new generation of privacy-first blockchain projects, Miden continues to attract attention with its cutting-edge infrastructure and strong investor backing.