Miden Secures $25M to Pioneer Privacy-Focused ’Edge Blockchain’—Because the World Needed Another L1

Zero-knowledge proofs meet enterprise scalability as Polygon spinout Miden targets confidential DeFi and gaming apps.

The funding round—led by crypto VCs who missed the last bull run—will fuel a Q3 mainnet launch. Miden’s virtual machine promises 10,000 TPS while keeping transaction details encrypted.

Another layer-1 solution enters the fray. Because what Web3 really needs is more fragmentation and another token to speculate on.

Confidentiality and auditability

By decentralizing execution to the client side, Miden allows developers to build apps with hybrid public-private states and complex logic, while maintaining confidentiality and auditability. 

It plans to integrate with Polygon’s Agglayer and follow in the footsteps of other Breakout Program projects by distributing around 10% of its native token to POL stakers.

Miden is currently in the final alpha phase, with early developers onboarded via its Pioneer program. According to 1kx’s Wei Dai, the project solves three critical problems in blockchain infrastructure: fragmentation, scaling bottlenecks, and privacy.

The funding will support protocol development, ecosystem growth, and developer tooling. A mainnet launch is expected later this year.