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The acquisition means that Polygon has invested over $1 billion in zero-knowledge technology and firms, the team shared in a press release. Sources close to the deal told CoinDesk that the acquisition is near $30-50 million.

The migration from POL to MATIC will also bring in some tokenomics changes with a new emission rate of 2%.

The program will tap into funds made available by Polygon’s Community Treasury, and the team shared that roughly 100 million POL tokens will be given out each year.

The Ethereum-focused developer firm attributes the layoffs to working more effectively, rather than financial reasons.

The new "AggLayer," set for launch next month, relies on zero-knowledge proofs, a type of cryptography that Polygon Labs is betting on as a core underpinning of future blockchain architecture.

The announcement means that existing EVM chains or optimistic rollups can connect to the prover without modification, then plug into Polygon’s newly released Aggregation layer, providing access to "all of the liquidity and value on Ethereum itself,”

The news comes three months after Avail, the data availability company, disclosed its $27 million seed funding round.

The purchase is part of a deal with hardware maker Fabric, that is also producing custom zero-knowledge chips for Polygon's AggLayer.

The migration from POL to MATIC will also bring in some tokenomics changes with a new emission rate of 2%.

Polygon introduced last week the upgraded version the network's token, POL, migrating from its longstanding token MATIC with some tokenomics changes.