Dear Linen community members and investors,

We wanted to share with you a quick update related to the Web3 ecosystem that validates our vision for the industry. 

It’s recent news that Polygon raised $450M in a financing round with some of the biggest names in venture capital, including Sequoia Capital, Andreessen Horowitz, Tiger Global, and Republic Capital. 

As you already know, we are betting big on the Polygon Network ourselves by choosing it as the first network to integrate into Linen Wallet after Ethereum. For this reason, we couldn’t be prouder to see top VCs firms investing in the Polygon blockchain and validating our vision.

The Polygon team plans to allocate $100 million of the funding to an “ecosystem fund” supporting the development of new projects on its network. (1) We are already seeing millions poured into blockchain gaming or social media. For example, companies like Aave are building protocols for social media powered by the Polygon blockchain.

The continuous development of the Polygon ecosystem is great news for us—more and more users are coming to Polygon and Linen will play a critical role to onboard them thanks to our user-friendly, and key-less wallet. 

Also worth mentioning is that both Polygon and Aave sponsored our recent marketing campaign for the Linen Wallet launch on the network, helping us set up a $25,000 giveaway that attracted thousands of users. 

Things are evolving rapidly and there is an exciting future ahead—we’re so early! We are super excited to be part of it and proud to have our loved community of investors on our side. 

The Linen team